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    Property profile & analytics

    7999 Virginia Dr Dallas, TX 75237

    • Medical Office Space
    • 14,968 SF
    • 1.39 lot acres
    For Lease
    View listing
    $21 SF/Yr
    Value Estimations
    $645,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-3301455
    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

    • Latha Velusamy, MD / Physician / Medical Clinic
    • John Westkaemper, M.D. / Physician
    • Ajay Kallam, MD / Physician / Medical Clinic
    • Srividya Venkataraman, MD / Physician / Medical Clinic
    • De Shawndranique Gray, MD / Physician

    Property Details for 7999 Virginia Dr

    Year built
    2008
    Construction
    FRAME
    Lot size
    1.39 lot acres
    Property size
    14,968 SF
    Zone code
    Z151
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    754700030050000
    APU
    754700030050000

    Description

    This exceptional 8,668 square foot medical office building in Dallas, Texas, presents a unique leasing opportunity. Located at 7999 W Virginia Dr, in Dallas County, zip code 75237, the property offers a total of three suites, currently fully vacant and available for lease. The building is categorized as a multi-tenant office space, specifically designed for medical practices. Flexible space options are available, with a minimum leasable area of 2,110 square feet and a maximum contiguous space of 4,518 square feet. This allows for adaptability to various medical practices' needs, whether a single large tenant or multiple smaller ones. The property's prime location in Dallas offers excellent visibility and accessibility for patients and staff. The building's total square footage is 8,668 square feet, providing ample space for a variety of medical services. Interested parties are encouraged to inquire about lease terms and conditions. This is an excellent opportunity to establish or expand a medical practice in a thriving Dallas location. The property is conveniently situated at 32.6496088 latitude and -96.8765986 longitude. All 8,668 square feet are currently available.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $590,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $695,000
      Market price range: $374k - $921k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $680,000
      Current use
      RETAIL STORES
      $665,000
      Change: -2% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $595,000
      Change: -13% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Dallas
    County
    Dallas
    State
    Texas
    Longitude
    -96.8764
    Latitude
    32.6496
    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
    $56,745
    $302,460
    $2,098,160
    $2,400,620
    -
    $302,460
    $2,098,160
    $2,400,620

    Comparable in this City

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      7125 Marvin D Love Fwy

      MEDICAL BUILDING • 29,028 SF
      7125 Marvin D Love Fwy, Dallas, TX 75237-3175
      View Details
    • Value Estimation
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      10,000 SF

      8057 Virginia Dr

      MEDICAL BUILDING • 10,000 SF
      8057 Virginia Dr, Dallas, TX 75237-3767
      View Details
    • Value Estimation by Request
      8,819 SF

      3940 Wheatland Rd

      MEDICAL BUILDING • 8,819 SF
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      View Details
    • Value Estimation
      $560,000
      17,000 SF

      7989 Virginia Dr

      MEDICAL BUILDING • 17,000 SF
      7989 Virginia Dr, Dallas, TX 75237-3837
      View Details

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    Similar Nearby for Lease

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      Dallas Medical Office Space For Lease

      8,668 SF Medical Office Building - Dallas, TX
      7999 Virginia Dr, Dallas, TX 75237
      View Details
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    Dallas, TX 75237
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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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