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    6221 Riverside Dr Irving, TX 75039
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    Property profile & analytics

    6221 Riverside Dr Irving, TX 75039

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    • Industrial properties
    • 143,498 SF
    • 6.94 lot acres
    For Sale
    $2,085,000
    View Listing →
    Las Colinas Redevelopment Opportunity For Sale
    $2,085,000
    143,430 SF

    Las Colinas Redevelopment Opportunity

    Value-add opportunity in desirable Las Colinas location.

    6221 Riverside Drive, Irving, TX
    View Listing
    Property ID
    US82-3818192
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Berg Productions / Film Production / Television Studio
    • Tanner Layne Mattison / Physician
    • DELOAR HOSSAIN / Physician
    • Averodx Mattison Pathology Llp / Medical Clinic
    • Dr. Tanner L. Mattison, MD / Physician

    Property Details for 6221 Riverside Dr

    Year built
    1986
    Construction
    TILT-UP CONCRETE
    Lot size
    6.94 lot acres
    Property size
    143,498 SF
    Zone code
    Z393
    Property type
    Industrial properties
    APN
    320874900A01R0000
    APU
    320874900A01R0000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Irving
    County
    Dallas
    State
    Texas
    Longitude
    -96.94
    Latitude
    32.8927
    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
    $247,440
    $2,568,340
    $9,114,660
    $11,683,000
    -
    $2,568,340
    $9,114,660
    $11,683,000

    Comparable in this City

    • Value Estimation
      $1,335,000
      72,000 SF

      6301 Riverside Dr

      INDUSTRIAL (GENERAL) • 72,000 SF
      6301 Riverside Dr, Irving, TX 75039-3531
      View Details
    • Value Estimation
      $1,035,000
      46,206 SF

      625 Royal Ln

      INDUSTRIAL (GENERAL) • 46,206 SF
      625 Royal Ln, Irving, TX 75039-3504
      View Details
    • Value Estimation by Request
      100 SF

      6024 Riverside Dr

      MINI-WAREHOUSE, STORAGE • 100 SF
      6024 Riverside Dr, Irving, TX 75039
      View Details
    • Value Estimation
      $1,875,000
      48,965 SF

      7390 Riverside Dr

      MINI-WAREHOUSE, STORAGE • 48,965 SF
      7390 Riverside Dr, Irving, TX 75039-3647
      View Details
    • Value Estimation by Request
      100 SF

      6000 Riverside Dr

      MINI-WAREHOUSE, STORAGE • 100 SF
      6000 Riverside Dr, Irving, TX 75039-3523
      View Details
    • Value Estimation
      $1,895,000
      42,000 SF

      2 Royal Ln

      DISTRIBUTION WAREHOUSE • 42,000 SF
      2 Royal Ln, Irving, TX 75039
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      143,430 SF

      Las Colinas Redevelopment Opportunity

      Value-add opportunity in desirable Las Colinas location.
      6221 Riverside Dr, Irving, TX 75039
      View Details
    • Contact for pricing
      11,430 SF

      Fully Occupied Retail Center in Irving

      Multi-tenant retail center in Irving, Texas, 100% occupied.
      925 W Royal Ln, Irving, TX 75039
      View Details
    • Contact for pricing
      43,790 SF

      Irving Office Building For Sale

      Two-story office building in Irving, Texas, totaling 43,790 square feet.
      4950 N O Connor Blvd, Irving, TX 75039
      View Details
    • Contact for pricing
      2,200 SF

      Premium Office Space in Irving

      Class A office space in North Irving / Las Colinas.
      1173 W John Carpenter Fwy, Irving, TX 75039
      View Details
    • $224,000
      Pending

      Las Colinas Condo with Parking

      One-bedroom condo in Las Colinas with two deeded parking spaces.
      330 Las Colinas Blvd E, Irving, TX 75039
      View Details
    • Contact for pricing
      159,478 SF

      Dallas Office Complex - Irving, TX

      159,478 SF Multi-Tenant Office Building
      350 Royal Ln, Irving, TX 75039
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Office, Studio, Warehouse Space Available

      Two-story office, studio, and warehouse building in Dallas.
      400 E Royal Ln, Irving, TX 75039
      View Details
    • Contact for pricing

      The Urban Towers

      Discover many ways to work your way in The Urban Towers
      222 Las Colinas Blvd, Irving, TX 75039
      View Details
    • Contact for pricing
      5,267 SF

      Irving Flex Space Available

      5,267 SF flex space available for rent in Irving.
      350 E Royal Ln, Irving, TX 75039
      View Details
    • Contact for pricing
      271,778 SF

      Irving Office Space Available

      271,778 square foot office building for lease.
      6535 State Highway 161, Irving, TX 75039
      View Details
    • Contact for pricing
      56,600 SF

      Highway 161 Office Space

      Office space with highway visibility and efficient floor plates.
      7100 N State Highway 161, Irving, TX 75039
      View Details
    • Contact for pricing
      2,800 SF

      Retail Space on Royal Lane

      Retail spaces available in Irving, surrounded by apartments and offices.
      411 W Royal Ln, Irving, TX 75039
      View Details
    View Listing
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    Irving, TX 75039
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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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