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

    7301 State Highway 161 Irving, TX 75039

    • Office buildings
    • 200,133 SF
    • 10.38 lot acres
    For Lease
    View listing
    Last Sale
    Jan 02, 2025
    Value Estimations
    $1,360,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-4560947
    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

    • Dr. Kenneth S. Williams, DDS / Dentist
    • Dr. Raja Abdul-Baki, DDS / Dentist
    • Dr. Ramin R. Jafari, DDS / Dentist
    • Dr. Michael A. Robertson, DDS / Dentist
    • Dr. Elbert K. Kwak, DDS / Dentist

    Property Details for 7301 State Highway 161

    Year built
    1998
    Construction
    FRAME
    Lot size
    10.38 lot acres
    Property size
    200,133 SF
    Zone code
    Z57
    Property type
    Office buildings
    APN
    321497100A0020000
    APU
    321497100A0020000

    Description

    Plaza One61, a prestigious Class A office building, offers 195,173 square feet of modern workspace in Irving, Texas. This four-story building, constructed in 1999 and extensively renovated in 2022, boasts a prime location at 7301 State Hwy 161, providing easy access to major thoroughfares like MacArthur Blvd., LBJ Freeway, and SH 114. The property sits on 10.38 acres and includes 950 parking spaces, featuring both covered and surface options (6:1000 surface parking ratio). Four high-speed elevators efficiently serve all four floors. Currently, there is 110,543 square feet of vacant space available, divisible into units ranging from 2,299 to a maximum contiguous 57,052 square feet. On-site amenities include 24/7 security and an on-site management staff. The building's strategic location offers proximity to Hackberry Creek Country Club, numerous businesses in Las Colinas, and a wide array of retail, dining, hospitality, and fitness options. DFW International Airport and Dallas Love Field are both within a 20-minute drive. This exceptional property presents a unique opportunity for businesses seeking a modern, well-maintained, and conveniently located office space in the thriving Irving submarket of Dallas County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $1,115,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,601,000
      Market price range: $668k - $3.97M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,705,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Irving
    County
    Dallas
    State
    Texas
    Longitude
    -96.9565
    Latitude
    32.9079
    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
    $623,427
    $5,423,220
    $24,012,230
    $29,435,450
    -
    $5,423,220
    $24,012,230
    $29,435,450

    Comparable in this City

    • Value Estimation
      $1,240,000
      276,149 SF

      6535 State Hwy 161

      OFFICE BUILDING • 276,149 SF
      6535 State Hwy 161, Irving, TX 75039-2402
      View Details
    • Value Estimation
      $385,000
      1,917 SF

      3910 Teleport Blvd

      OFFICE BUILDING • 1,917 SF
      3910 Teleport Blvd, Irving, TX 75039-5614
      View Details
    • Value Estimation
      $890,000
      266,763 SF

      6565 Macarthur Blvd

      OFFICE BUILDING • 266,763 SF
      6565 Macarthur Blvd, Irving, TX 75039-2490
      View Details
    • Value Estimation
      $980,000
      49,394 SF

      150 John Carpenter Fwy

      OFFICE BUILDING • 49,394 SF
      150 John Carpenter Fwy, Irving, TX 75039-2005
      View Details
    • Value Estimation
      $1,690,000
      844,904 SF

      401 Las Colinas W Blvd

      OFFICE BUILDING • 844,904 SF
      401 Las Colinas W Blvd, Irving, TX 75039-5400
      View Details
    • Value Estimation
      $1,535,000
      126,736 SF

      6801 Colwell Blvd

      OFFICE BUILDING • 126,736 SF
      6801 Colwell Blvd, Irving, TX 75039-3198
      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
      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
    • $1,000,000
      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
    • 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
    • Contact for pricing
      1,500 SF

      One Fourteen Office Park: Irving, TX

      Medical Office Suites: For Sale/Lease
      200 John Carpenter Fwy, Irving, TX 75039
      View Details
    • $5,233,300
      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

    Similar Nearby for Lease

    • Contact for pricing
      48,846 SF

      Irving Office Space Available

      Office space for rent in Irving, Texas.
      100 E Royal Ln, Irving, TX 75039
      View Details
    • Contact for pricing
      57,410 SF

      Las Colinas Office Space Available

      Prime office space in a sought-after Dallas development.
      6655 N Macarthur Blvd, Irving, TX 75039
      View Details
    • Contact for pricing
      24,706 SF

      Las Colinas Office Space Available

      Office space for lease in Irving, Texas.
      5959 Las Colinas Blvd, Irving, TX 75039
      View Details
    • Contact for pricing
      65,620 SF

      Irving Office Space For Lease

      Office space for lease in Irving, Texas with ample parking.
      200 W John Carpenter Fwy, Irving, TX 75039
      View Details
    • $450 /Mo
      1,231 SF

      Las Colinas Office Sublease Space

      Sublease office space in the heart of Las Colinas.
      600 E John Carpenter Fwy, Irving, TX 75039
      View Details
    • $25 SF/Yr
      2,500 SF

      Irving Office Space For Rent

      2,500 SF office space available for lease in Irving.
      825 W Royal Ln, Irving, TX 75039
      View Details
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    7301 State Highway 161
    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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