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

    620 Carroll Ave Southlake, TX 76092-6488

    • Office buildings
    • 5,956 SF
    • 0.43 lot acres
    OFF-MARKET
    Value Estimations
    $360,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-2941120
    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

    • Office buildings

    Property Details for 620 Carroll Ave

    Year built
    2006
    Lot size
    0.43 lot acres
    Property size
    5,956 SF
    Property type
    Office buildings
    APN
    6523-1-2
    APU
    652312

    Description

    This exceptional 901-square-foot Class A office suite is ideally situated near Southlake Town Square. Built in 2006, this single-story building offers a complete and stylish office space perfect for a variety of businesses. The suite boasts a welcoming reception area, four private offices (one easily adaptable as a conference room), a convenient kitchenette, a dedicated wiring closet, and a private restroom. The space is pre-wired for FIOS fiber-optic access and CAT5, ensuring seamless connectivity. Ample open parking is available for tenants and clients. Enhance your professional image with available monument and door signage (tenant expense). This meticulously designed suite is part of a larger 5,956-square-foot building with a total of one suite. The property is zoned for office commercial use (excluding medical practices). Enjoy the convenience of the Carroll Terrace courtyard and its water fountain, easily accessible from the side building entrance. This turnkey solution offers immediate occupancy in a highly desirable Southlake location. The minimum leasable space is 901 square feet, representing the entire available suite within the building.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $355,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $364,000
      Market price range: $259k - $467k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $365,000
      Current use
      RESTAURANT
      $575,000
      Change: +58% Conversion: Moderate
      RETAIL STORES
      $515,000
      Change: +40% Conversion: Moderate
      MEDICAL BUILDING
      $420,000
      Change: +15% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Southlake
    County
    Tarrant
    State
    Texas
    Longitude
    -97.1347
    Latitude
    32.948
    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
    $25,077
    $169,749
    $1,244,801
    $1,414,550
    -
    $169,749
    $1,244,801
    $1,414,550

    Comparable in this City

    • Value Estimation
      $870,000
      13,364 SF

      700 Carroll Ave

      OFFICE BUILDING • 13,364 SF
      700 Carroll Ave, Southlake, TX 76092-6458
      View Details
    • Value Estimation
      $545,000
      13,542 SF

      2241 Continental Blvd

      OFFICE BUILDING • 13,542 SF
      2241 Continental Blvd, Southlake, TX 76092-9781
      View Details
    • Value Estimation
      $930,000
      26,510 SF

      405 Nolen Dr

      OFFICE BUILDING • 26,510 SF
      405 Nolen Dr, Southlake, TX 76092-7504
      View Details
    • Value Estimation
      $375,000
      5,462 SF

      300 Morrison Park Dr

      OFFICE BUILDING • 5,462 SF
      300 Morrison Park Dr, Southlake, TX 76092-1485
      View Details
    • Value Estimation
      $355,000
      6,294 SF

      505 Southlake Blvd

      OFFICE BUILDING • 6,294 SF
      505 Southlake Blvd, Southlake, TX 76092-6145
      View Details
    • Value Estimation
      $355,000
      5,475 SF

      1695 Southlake Blvd

      OFFICE BUILDING • 5,475 SF
      1695 Southlake Blvd, Southlake, TX 76092-6583
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,351 SF

      Southlake Office Building For Sale

      Office building in prime location near Southlake Town Square.
      270 Miron Dr, Southlake, TX 76092
      View Details
    • $2,426,500
      5,745 SF

      Southlake Office Building For Sale

      Office building with 5,745 square feet of space.
      680 N Carroll Ave, Southlake, TX 76092
      View Details
    • $1,650,000

      Highway Frontage Office/Medical Building

      Office or medical building with highway frontage and high traffic.
      2118 E State Highway 114, Southlake, TX 76092
      View Details
    • Contact for pricing
      6,110 SF

      Southlake Professional Office Building

      Class A office building in a high-demographic market.
      201 Players Cir, Southlake, TX 76092
      View Details
    • $13,300,000
      18.42 Acres

      Prime Southlake Commercial Land Parcel

      18+ acres of commercial land in premier Southlake location.
      1101 N Carroll Ave, Southlake, TX 76092
      View Details
    • $3,482,871
      8,729 SF

      Southlake Office Building For Sale

      Office building with 8729 square feet of space.
      2545 E Southlake Blvd, Southlake, TX 76092
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      26,493 SF

      Southlake Office Space Available

      Office space available for lease in Southlake, Texas.
      425 S Kimball Ave, Southlake, TX 76092
      View Details
    • $2,490,000
      5,878 SF

      Southlake Office Space Available

      Office building with 5,878 square feet available for rent.
      2271 E Continental Blvd, Southlake, TX 76092
      View Details
    • Contact for pricing
      150,000 SF

      Class A Office Space Available

      Modern office building with abundant parking and signage opportunities.
      1411-1431 N White Chapel Blvd, Southlake, TX 76092
      View Details
    • $43 SF/Yr
      2,230 SF

      New Office Space in Southlake

      Class AA office space with amenities in Southlake Town Square.
      601 State St, Southlake, TX 76092
      View Details
    • Contact for pricing
      100,000 SF

      Class A Office Space Available

      Modern office building with abundant parking and highway visibility.
      1431 N White Chapel Blvd, Southlake, TX 76092
      View Details
    • $30 SF/Yr
      6,000 SF

      New Office Building in Southlake

      Newly constructed office space for lease in a prime location.
      171 W Southlake Blvd, Southlake, TX 76092
      View Details
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    620 Carroll Ave
    Southlake, TX 76092-6488
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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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