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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    606 Airport Fwy Irving, TX 75062-6308

    • Specialty properties
    • 9,986 SF
    • 3.03 lot acres
    OFF-MARKET
    Last Sale
    Jul 26, 2021
    Value Estimations
    $570,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-3195032
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Donnelly's Colonial Funeral Home / Social Service Agency

    Property Details for 606 Airport Fwy

    Year built
    1963
    Construction
    FRAME
    Lot size
    3.03 lot acres
    Property size
    9,986 SF
    Zone code
    Z58
    Property type
    Specialty properties
    APN
    65118280210110000
    APU
    65118280210110000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $480,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $662,000
      Market price range: $393k - $689k

    • Alternative Use

      Use
      Estimation
      CEMETERY, FUNERAL HOME, MORTUARY (COMMERCIAL)
      $555,000
      Current use
      RETAIL STORES
      $540,000
      Change: -2% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Irving
    County
    Dallas
    State
    Texas
    Longitude
    -96.9531
    Latitude
    32.8357
    CBSA code
    19100
    CBSA name
    DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $28,895
    $694,360
    $641,860
    $1,336,220
    -
    $694,360
    $641,860
    $1,336,220

    Comparable in this City

    • Value Estimation
      $910,000
      16,394 SF

      700 Airport Fwy

      VETERINARY, ANIMAL HOSPITAL • 16,394 SF
      700 Airport Fwy, Irving, TX 75062-6310
      View Details
    • Value Estimation
      $535,000
      8,880 SF

      3131 O Connor Rd

      DAY CARE, PRE-SCHOOL • 8,880 SF
      3131 O Connor Rd, Irving, TX 75062-4407
      View Details
    • Value Estimation by Request
      3,872 SF

      2227 Cheyenne St

      DAY CARE, PRE-SCHOOL • 3,872 SF
      2227 Cheyenne St, Irving, TX 75062-7264
      View Details
    • Value Estimation by Request
      4,634 SF

      3430 Rochelle Rd

      DAY CARE, PRE-SCHOOL • 4,634 SF
      3430 Rochelle Rd, Irving, TX 75062-6860
      View Details
    • Value Estimation by Request
      1,534 SF

      2610 William Brewster Dr

      DAY CARE, PRE-SCHOOL • 1,534 SF
      2610 William Brewster Dr, Irving, TX 75062-7004
      View Details
    • Value Estimation by Request
      100 SF

      2901 O Connor Rd

      DAY CARE, PRE-SCHOOL • 100 SF
      2901 O Connor Rd, Irving, TX 75062-4402
      View Details

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      111-Unit Multifamily Investment Opportunity
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      Condominium near Las Colinas with attached two-car garage.
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      Commercial Land with Utilities

      Commercial land with all utilities available in Irving, Texas.
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    • $1,348,000
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      Strategically located commercial land parcel in Irving, Texas, near DFW.
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    Similar Nearby for Lease

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      Prime Irving Office Space, Flexible Suites
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      Turnkey Daycare/School Facility in Las Colinas

      Fully equipped daycare/school facility ready for immediate operation.
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    • $14 SF/Yr
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      Turnkey Daycare-School Facility For Lease

      Fully equipped daycare-school facility ready for immediate operation in Las Colinas.
      3131 N O'connor Rd, Irving, TX 75062
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    • $17 SF/Yr
      204,665 SF

      Prime Irving Retail Space

      Class A retail space, multiple units available.
      500 John W Carpenter Fwy, Irving, TX 75062
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    • Contact for pricing
      7,667 SF

      Modern Office Tower in Irving

      Premier office space in Las Colinas Urban Center gateway.
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    • Contact for pricing

      Class A Single Tenant Office

      16,950 SF office building with highway frontage and ample parking.
      698 E Airport Fwy, Irving, TX 75062
      View Details
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    606 Airport Fwy
    Irving, TX 75062-6308
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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