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

    8445 Freeport Pkwy Irving, TX 75063

    • Office buildings
    • 79,747 SF
    • 3.51 lot acres
    For Lease
    View listing
    $21 SF/Yr
    Value Estimations
    $1,165,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-3663902
    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

    • Insight Benefits Management / Insurance Agency
    • Pioneer Air and Gas Systems / Manufacturer
    • WFG National Title Company / Title Company
    • Shah Smith & Associates / Engineering Consultant / Engineer
    • TPA technologies / Business Management Consultant

    Property Details for 8445 Freeport Pkwy

    Year built
    1982
    Construction
    FRAME
    Lot size
    3.51 lot acres
    Property size
    79,747 SF
    Zone code
    Z84
    Property type
    Office buildings
    APN
    32096580070000000
    APU
    32096580070000000

    Description

    Parkway Tower, located at 8445 Freeport Parkway in Irving, Texas, offers 81,056 square feet of prime office space in the prestigious Las Colinas business center. This six-story building provides flexible options for businesses of all sizes, with spaces ranging from 635 to 13,864 contiguous square feet. Currently, 30,365 square feet of space is available for lease. The building boasts convenient access to major thoroughfares including SH-114, SH-121, and IH-635, as well as proximity to DFW International Airport. Amenities include ample parking (3.5 spaces per 1,000 square feet), a Subway restaurant, recently updated common areas, and on-site engineering. The location offers easy access to public transportation, including a nearby DART bus line and light rail station. Parkway Tower is surrounded by a wealth of amenities, including hotels, restaurants, retail shops, North Lake College, Las Colinas Medical Center, Grapevine Mills Mall, and Hackberry Creek Country Club. The building's location in the heart of Las Colinas places it near numerous corporate headquarters, such as those of NEC, Nokia, ExxonMobil, Verizon, and the Big XII Conference. This exceptional location and comprehensive amenities make Parkway Tower an ideal choice for businesses seeking a thriving and convenient office environment in Dallas County, Texas, zip code 75063.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $875,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,454,000
      Market price range: $863k - $3.44M

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

    Location Insight

    • Map
    • Local Demand
    City
    Irving
    County
    Dallas
    State
    Texas
    Longitude
    -97.0196
    Latitude
    32.9235
    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
    $192,530
    $2,290,820
    $6,509,180
    $8,800,000
    -
    $2,290,820
    $6,509,180
    $8,800,000

    Comparable in this City

    • Value Estimation
      $1,590,000
      80,000 SF

      4650 Regent Blvd

      OFFICE BUILDING • 80,000 SF
      4650 Regent Blvd, Irving, TX 75063-2482
      View Details
    • Value Estimation
      $1,275,000
      80,997 SF

      8001 Ridgepoint Dr

      OFFICE BUILDING • 80,997 SF
      8001 Ridgepoint Dr, Irving, TX 75063-3156
      View Details
    • Value Estimation
      $905,000
      45,523 SF

      4529 Royal Ln

      OFFICE BUILDING • 45,523 SF
      4529 Royal Ln, Irving, TX 75063-2556
      View Details
    • Value Estimation
      $1,020,000
      269,280 SF

      8900 Freeport Pkwy

      OFFICE BUILDING • 269,280 SF
      8900 Freeport Pkwy, Irving, TX 75063-2409
      View Details
    • Value Estimation
      $1,650,000
      95,268 SF

      8650 Freeport Pkwy

      OFFICE BUILDING • 95,268 SF
      8650 Freeport Pkwy, Irving, TX 75063-2779
      View Details
    • Value Estimation
      $785,000
      40,150 SF

      2425 Gtwy Dr

      OFFICE BUILDING • 40,150 SF
      2425 Gtwy Dr, Irving, TX 75063-2728
      View Details

    Similar Nearby for Sale

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      5.70 Acres

      Updated Office Ready for Conversion

      Updated commercial office suitable for school, daycare, or professional use.
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      View Details
    • $5,750,000

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      Office property for sale in Irving, Texas.
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      60,915 SF

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      Multi-tenant office and office/warehouse spaces near DFW Airport.
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      69,363 SF

      Irving Warehouse with 32' Clearance

      69,160 SF warehouse with 32' clearance and ESFR sprinkler.
      7815 Jetstar Dr, Irving, TX 75063
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    • $4,900,000
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      Valley Ranch Retail/Childcare Opportunity

      15,295 SF building on 1.37 acres in Irving, TX.
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      105,675 SF

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      105,675 SF distribution warehouse with dock and grade-level doors.
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      View Details

    Similar Nearby for Lease

    • Contact for pricing
      7,866 SF

      Irving Office Space For Rent

      Multi-tenant office buildings near DFW International Airport.
      2801 Gateway Dr, Irving, TX 75063
      View Details
    • Contact for pricing
      81,780 SF

      Irving Office Space For Lease

      Office space for lease with excellent visibility and access.
      8333 Ridgepoint Dr, Irving, TX 75063
      View Details
    • Contact for pricing
      21,150 SF

      Class A Office Building

      Class A office building with rooftop terrace and conference center.
      4795 Regent Blvd, Irving, TX 75063
      View Details
    • Contact for pricing
      36,471 SF

      Office Building Near DFW Airport

      78,464 RSF office building available near DFW Airport.
      8001 Ridgepoint Dr, Irving, TX 75063
      View Details
    • Contact for pricing
      24,121 SF

      Two-Story Office Building For Lease

      Two-story office building with expansion land and ample parking.
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      View Details
    • Contact for pricing
      41,807 SF

      Irving Office Space For Lease

      Large floor plates available near DFW Airport.
      3929 W John Carpenter Fwy, Irving, TX 75063
      View Details
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    Irving, TX 75063
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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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