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    628 Centre St Dallas, TX 75208
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    Property profile & analytics

    628 Centre St, Dallas, TX 75208

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    • Office buildings
    • 6,886 SF
    • 0.48 lot acres
    For Sale
    $2,000,000
    View Listing →
    Single Story Office Building For Sale
    $2,000,000
    6,886 SF

    Single Story Office Building

    Single-story office building with high ceilings and ample parking.

    628 Centre St, Dallas, TX
    View Listing
    Property ID
    US83-4211312
    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

    • Michael C. Raven, BSW / Doctor / Counselor
    • Tabatha Furlough / Foster Care Service / Social Service Agency
    • Jesus J. Gonzalez, LPC / Counselor
    • Susan Clark, LMSW / Counselor / Doctor
    • Transicare / Medical Clinic

    Property Details for 628 Centre St

    Year built
    1958
    Construction
    TILT-UP CONCRETE
    Lot size
    0.48 lot acres
    Zone code
    Z239
    Property type
    Office buildings
    APN
    257623000000
    APU
    257623000000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 28, 2020 — Black Operations LLC 628 Centre LLC Grant Deed $1.2M · Bancorpsouth
    Sep 12, 2018 — 628 Centre LLC Centro De Mi Salud LLC Quit Claim Deed —
    Jun 19, 2015 — Centro De Mi Salud LLC Norma Melo Westurn Special Warranty Deed $300k · Ben Riggs
    Dec 27, 2012 — Westurn,norma M Westurn,don H Quit Claim Deed · related $193k · Bank Of Nat'l Tr & Svgs
    Oct 30, 2006 — Don Westurn Lopez A A & M N Living Trust Warranty Deed $229k · Bank Of America
    Feb 22, 2002 — Lopez,tr Wallace,kent W & Martha S Grant Deed $102k · Bank Of America
    — — Centro De Mi Salud LLC — Deed Of Trust · related $400k · Bank Of America
    — — Norma M Westurn — Deed Of Trust · related $219k · Compass Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $775,000
      Current use
      RESTAURANT
      $995,000
      Change: +28% Conversion: Moderate
      RETAIL STORES
      $845,000
      Change: +9% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $805,000
      Change: +3% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $715,000
      Change: -8% Conversion: Easy
      MEDICAL BUILDING
      $700,000
      Change: -10% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Dallas
    County
    Dallas
    State
    Texas
    Longitude
    -96.8334
    Latitude
    32.7421
    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
    $37,405
    $525,000
    $1,105,000
    $1,630,000
    -
    $525,000
    $1,105,000
    $1,630,000

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      View Details

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      6,886 SF

      Single Story Office Building

      Single-story office building with high ceilings and ample parking.
      628 Centre St, Dallas, TX 75208
      View Details
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      5,000 SF

      Two-Story Live-Work Office Building

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      Modern, flexible commercial building suitable for office or live-work.
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      Professional Office Suite with Parking

      Well-kept office with multiple large rooms, restrooms, break room, and front parking.
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      Freestanding Office Building on Acre Lot

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      Trinity Groves Office-Warehouse Space

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      Dallas Flex Space For Lease

      Flex space with warehouse and office areas available for lease.
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      Two-Story Flex Office Building

      Brand-new two-story building with dual entrances and gated parking, suited for office use or a live-work setup.
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      6,621 SF

      Flexible Office Building Lease

      Free-standing space with reception, consultation rooms, multiple offices, and an open area suited for medical or retail concepts.
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    • Contact for pricing

      Retail and Restaurant Space Available

      Located in the historic Bishop Arts District near downtown Dallas.
      400 N Zang Blvd, Dallas, TX 75208
      View Details
    View Listing
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    Dallas, TX 75208
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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.

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