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    7240 Glenview Dr Richland Hills, TX 76180-8612
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    Property profile & analytics

    7240 Glenview Dr Richland Hills, TX 76180-8612

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    • Office buildings
    • 2,522 SF
    • 0.39 lot acres
    Off-Market
    Last Sale May 15, 2020
    Property ID
    US82-3940040
    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

    • Office buildings

    Property Details for 7240 Glenview Dr

    Year built
    1951
    Lot size
    0.39 lot acres
    Property size
    2,522 SF
    Property type
    Office buildings
    APN
    34090-19-11
    APU
    340901911

    Description

    This exceptional single-story commercial building, located at 7240 Glenview Drive in Richland Hills, Texas, offers 2,522 square feet of versatile space currently configured as a retail and office space. Situated on a 17,000 square foot lot, the property boasts excellent visibility on Glenview Drive. The interior features a large open area, several sizable rooms suitable for offices or retail use, and numerous additional offices in the rear. The building includes two central air conditioning units, a mix of wood and laminate flooring, a small kitchen, and one restroom. A small storage building is also located on the property. Convenient washer/dryer hookups and a mop sink are included. Adequate parking is available on-site, with additional parking located at the rear of the building. The property is zoned for Professional Office Corridor Specific Use

    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
    Richland Hills
    County
    Tarrant
    State
    Texas
    Longitude
    -97.2259
    Latitude
    32.8235
    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
    $4,432
    $85,000
    $114,000
    $199,000
    -
    $85,000
    $114,000
    $199,000

    Comparable in this City

    • Value Estimation
      $6,220,000
      200,612 SF

      5201 Rufe Snow Dr

      OFFICE BUILDING • 200,612 SF
      5201 Rufe Snow Dr, North Richland Hills, TX 76180-6036
      View Details
    • Value Estimation
      $2,480,000
      102,944 SF

      7001 Blvd 26

      OFFICE BUILDING (MULTI-STORY) • 102,944 SF
      7001 Blvd 26, North Richland Hills, TX 76180-8811
      View Details
    • Value Estimation by Request
      2,916 SF

      8625 Airport Fwy

      OFFICE BUILDING • 2,916 SF
      8625 Airport Fwy, North Richland Hills, TX 76180-7254
      View Details
    • Value Estimation
      $560,000
      6,000 SF

      5324 Davis Blvd

      OFFICE BUILDING • 6,000 SF
      5324 Davis Blvd, North Richland Hills, TX 76180-6824
      View Details
    • Value Estimation
      $905,000
      11,200 SF

      4808 Davis Blvd

      OFFICE BUILDING • 11,200 SF
      4808 Davis Blvd, North Richland Hills, TX 76180-7001
      View Details
    • Value Estimation by Request
      3,390 SF

      6340 Davis Blvd

      OFFICE BUILDING • 3,390 SF
      6340 Davis Blvd, North Richland Hills, TX 76180-4762
      View Details

    Similar Nearby for Sale

    • $795,000

      North Richland Hills Retail/Office Building

      3,021 SF building in a high-traffic retail and business area.
      753 Mid Cities Blvd, North Richland Hills, TX 76180
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    • $525,000
      0.51 Acres

      Freestanding Richland Hills Office Building

      Freestanding office building in Richland Hills with convenient access.
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      3,621 SF

      North Richland Hills Office Building

      Well-maintained 3,621 SF commercial building in North Richland Hills.
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      8,588 SF

      North Richland Hills Commercial Property

      Fully occupied commercial property in a high-traffic North Richland Hills location.
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      View Details
    • $799,000
      0.39 Acres

      Turnkey Venue in Richland Hills

      Renovated indoor-outdoor venue suitable for events and retail.
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      North Richland Hills Retail Building

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    Similar Nearby for Lease

    • $395 /Mo
      32,670 SF

      Premier Office Space Available

      Exceptional office space with modern amenities and highway access.
      4925 Davis Blvd, North Richland Hills, TX 76180
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      Mixed-Use Development For Lease

      Retail, office, and residential spaces available in North Richland Hills.
      6020 Parker Blvd, North Richland Hills, TX 76180
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    • Contact for pricing
      1,500 SF

      North Richland Hills Office Space

      1500 SF office space with 9 rooms available for rent.
      4028 Daley Ave, North Richland Hills, TX 76180
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    • Contact for pricing

      Premier Office Space Available

      Exceptional office space with easy highway access in North Texas.
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      North Richland Hills Retail Center

      Shopping center with retail, restaurant, and office space available.
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    • Contact for pricing

      Office Space Available For Rent

      Office space for rent at 5198 Rufe Snow Dr, TX.
      5198 Rufe Snow Dr, North Richland Hills, TX 76180
      View Details
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    Richland Hills, TX 76180-8612
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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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