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    Property profile & analytics

    6331 Prospect Ave Dallas, TX 75214-3938

    • Medical offices
    • 4,536 SF
    • 0.60 lot acres
    OFF-MARKET
    Value Estimations
    $365,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-3397275
    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

    • Baylor Family Medicine at Lakewood / Medical Clinic
    • Lakewood Family Health / Medical Clinic
    • Kendra Breithaupt, FNP / Nurse Practitioner
    • Tara Cavazos, FNP / Nurse Practitioner
    • Alyssa Haycock, FNP / Nurse Practitioner

    Property Details for 6331 Prospect Ave

    Year built
    1951
    Construction
    TILT-UP CONCRETE
    Lot size
    0.60 lot acres
    Property size
    4,536 SF
    Zone code
    Z239
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    200140000000
    APU
    200140000000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $370,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $279,000
      Market price range: $113k - $473k

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

    Location Insight

    • Map
    • Local Demand
    City
    Dallas
    County
    Dallas
    State
    Texas
    Longitude
    -96.7541
    Latitude
    32.8153
    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
    $15,054
    $526,160
    $129,840
    $656,000
    -
    $526,160
    $129,840
    $656,000

    Comparable in this City

    • Value Estimation
      $335,000
      3,816 SF

      6329 Oram St

      MEDICAL BUILDING • 3,816 SF
      6329 Oram St, Dallas, TX 75214-3931
      View Details
    • Value Estimation
      $1,150,000
      271,911 SF

      4829 Lawther Dr

      HOMES (RETIRED, NURSING) • 271,911 SF
      4829 Lawther Dr, Dallas, TX 75214-1858
      View Details
    • Value Estimation
      $1,090,000
      138,836 SF

      1234 Abrams Rd

      HOMES (RETIRED, NURSING) • 138,836 SF
      1234 Abrams Rd, Dallas, TX 75214-4850
      View Details
    • Value Estimation by Request
      2,965 SF

      5832 Live Oak St

      Day care centers • 2,965 SF
      5832 Live Oak St, Dallas, TX 75214
      View Details
    • Value Estimation
      $535,000
      6,286 SF

      6130 La Vis Dr Ste, Unit 100

      OFFICE BUILDING • 6,286 SF
      6130 La Vis Dr Ste, Dallas, TX 75214-4354
      View Details
    • Value Estimation
      $770,000
      42,370 SF

      6301 Gaston Ave

      OFFICE BUILDING • 42,370 SF
      6301 Gaston Ave, Dallas, TX 75214-3922
      View Details

    Similar Nearby for Sale

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      Multifamily Site in East Dallas

      21,706 SF property zoned for multifamily development.
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    • $415,000
      0.17 Acres

      Residential Land Near Downtown Dallas

      Unimproved land suitable for townhomes or apartments near downtown Dallas.
      4913 E Side Ave, Dallas, TX 75214
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    Similar Nearby for Lease

    • $19 SF/Yr
      30,720 SF

      Abrams Center Office Suites

      Single-story medical/office space available.
      5510 Abrams Rd, Dallas, TX 75214
      View Details
    • Contact for pricing
      10,100 SF

      Lakewood Tower Office Suites

      Dallas Office Space: 524 - 10,100 SF Available
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      View Details
    • Contact for pricing
      2,238 SF

      Retail or Medical Space Available

      2,238 SF retail or medical space for lease.
      5004 Columbia Ave, Dallas, TX 75214
      View Details
    • Contact for pricing
      75,000 SF

      Lakewood Retail Center Opportunity

      Dallas County Retail Space Available
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      View Details
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      2,274 SF

      Retail and Restaurant Space Available

      Retail and restaurant spaces for lease in Lakewood district.
      5815 Live Oak St, Dallas, TX 75214
      View Details
    • Contact for pricing
      64,913 SF

      Lakewood Shopping Center: Dallas Retail

      Prime Dallas retail space, multiple suites available.
      6308 Gaston Ave, Dallas, TX 75214
      View Details

    Property Visit Statistics

    • Visits by month
      3.4k
    • Visitors by month
      3.1k
    • Avg Time on site
      23 min
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    6331 Prospect Ave
    Dallas, TX 75214-3938
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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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