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    612 N Story Rd Irving, TX 75061
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    612 N Story Rd Irving, TX 75061

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    • Office buildings
    • 7,316 SF
    • 0.64 lot acres
    For Lease
    $15 SF/Yr
    View Listing →
    Accessible Irving Office Space Available For Lease
    $15 SF/Yr
    7,316 SF

    Accessible Irving Office Space Available

    1,075 SF office space ideal for retail or office.

    612 N Story Rd, Irving, TX 75061
    View Listing
    Property ID
    US82-4386929
    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.
    Value Estimations
    $505,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Guido Construction Inc / Construction Company
    • Holistico es mejor / Physician / Alternative Medicine Practice
    • El Poder De La Naturaleza / Medical Clinic
    • DHT Architects / HVAC Service / General Contractor
    • Peter Kelsall / Pediatrician / Physician

    Property Details for 612 N Story Rd

    Year built
    1984
    Construction
    FRAME
    Lot size
    0.64 lot acres
    Property size
    7,316 SF
    Zone code
    Z392
    Property type
    Office buildings
    APN
    325425900A0010000
    APU
    325425900A0010000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $380,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $629,000
      Market price range: $305k - $1.07M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $790,000
      Current use
      AUTO REPAIR, GARAGE
      $730,000
      Change: -7% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Irving
    County
    Dallas
    State
    Texas
    Longitude
    -96.9758
    Latitude
    32.8214
    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
    $15,678
    $69,990
    $655,010
    $725,000
    -
    $69,990
    $655,010
    $725,000

    Comparable in this City

    • Value Estimation
      $2,090,000
      75,036 SF

      2520 Irving Blvd

      OFFICE BUILDING • 75,036 SF
      2520 Irving Blvd, Irving, TX 75061-4232
      View Details
    • Value Estimation
      $1,750,000
      13,253 SF

      1212 Loop 12

      OFFICE BUILDING • 13,253 SF
      1212 Loop 12, Irving, TX 75061-5615
      View Details
    • Value Estimation
      $530,000
      3,657 SF

      925 Pioneer Dr

      OFFICE BUILDING • 3,657 SF
      925 Pioneer Dr, Irving, TX 75061-7717
      View Details
    • Value Estimation
      $680,000
      13,136 SF

      1634 Irving Blvd

      OFFICE BUILDING • 13,136 SF
      1634 Irving Blvd, Irving, TX 75061-7200
      View Details
    • Value Estimation by Request
      4,631 SF

      2629 Grauwyler Rd

      OFFICE BUILDING • 4,631 SF
      2629 Grauwyler Rd, Irving, TX 75061-3412
      View Details
    • Value Estimation
      $845,000
      9,702 SF

      2505 Pioneer Dr

      OFFICE BUILDING • 9,702 SF
      2505 Pioneer Dr, Irving, TX 75061
      View Details

    Similar Nearby for Sale

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      Office building with 16,950 square feet available for sale.
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      76,900 SF

      Professional Office Building For Sale

      Office building with strong visibility and contemporary glass facade.
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      Dental Investment Opportunity

      Dental office building with long-term lease in place.
      737 Irby Ln, Irving, TX 75061
      View Details
    • $1,100,000
      0.51 Acres

      Accessible Irving Office Building

      One-story office building suitable for medical or commercial use.
      1425 N O Connor Rd, Irving, TX 75061
      View Details
    • $629,900
      3,166 SF

      Dental Opportunity in Irving, Texas

      Rare dental opportunity to lease or purchase with existing equipment.
      737 Irby Ln, Irving, TX 75061
      View Details
    • $1,600,000
      12,419 SF

      Irving Warehouse with Living Space

      Versatile warehouse with living space in Irving, Texas.
      2340 Hinton Dr, Irving, TX 75061
      View Details

    Similar Nearby for Lease

    • $3,000 /Mo
      22,782 SF

      Versatile Office Building with Charm

      Spacious office building with five rooms and three bathrooms.
      1905-a Hard Rock Rd, Irving, TX 75061
      View Details
    • $1,550 /Mo
      37,897 SF

      Office Space Near Hwy 83

      Office space for rent, close to Hwy 83 and shopping.
      1202 W Pioneer Dr, Irving, TX 75061
      View Details
    • Contact for pricing

      Medical Office Building For Lease

      Class A medical office building on Baylor Scott & White campus.
      2005 W Park Dr, Irving, TX 75061
      View Details
    • Contact for pricing
      2,607 SF

      Retail and Office Space Available

      Retail and office spaces for lease in Irving, Texas.
      4030 N Macarthur Blvd, Irving, TX 75061
      View Details
    • Contact for pricing
      6,845 SF

      Office Space in Sierra Office Park

      Office space for rent in master-planned Sierra Office Park.
      6565 N Macarthur Blvd, Irving, TX 75061
      View Details
    • Contact for pricing
      1,761 SF

      Medical Office Space Available

      Ground floor medical office space with customizable suites for rent.
      2021 N Macarthur Blvd, Irving, TX 75061
      View Details
    View Listing
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    612 N Story Rd
    Irving, TX 75061
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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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