Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    8615 Lullwater Dr Dallas, TX 75238-4754

    • Apartment buildings
    • 93,653 SF
    • 6.04 lot acres
    OFF-MARKET
    Value Estimations
    $580,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-5173151
    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

    • The Villages of Lake Highlands / Nursing Home / Assisted Living Facility
    • Outpatient - Villages of Lake Highlands / Physical Therapy Clinic / Occupational Therapist

    Property Details for 8615 Lullwater Dr

    Year built
    2009
    Construction
    FRAME
    Lot size
    6.04 lot acres
    Property size
    93,653 SF
    Zone code
    Z239
    Property type
    Apartment buildings
    APN
    007081000A0030000
    APU
    007081000A0030000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $715,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $438,000
      Market price range: $309k - $655k

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $455,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Dallas
    County
    Dallas
    State
    Texas
    Longitude
    -96.7052
    Latitude
    32.8663
    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
    $278,765
    $2,105,860
    $9,394,140
    $11,500,000
    -
    $2,105,860
    $9,394,140
    $11,500,000

    Comparable in this City

    • Value Estimation
      $645,000
      71,824 SF

      10749 Enw Hwy

      APARTMENT HOUSE (5+ UNITS) • 71,824 SF
      10749 Enw Hwy, Dallas, TX 75238-4801
      View Details
    • Value Estimation
      $700,000
      135,242 SF

      11363 Amanda Ln

      APARTMENT HOUSE (5+ UNITS) • 135,242 SF
      11363 Amanda Ln, Dallas, TX 75238-4095
      View Details
    • Value Estimation
      $940,000
      225,142 SF

      11333 Amanda Ln

      APARTMENT HOUSE (5+ UNITS) • 225,142 SF
      11333 Amanda Ln, Dallas, TX 75238-4094
      View Details
    • Value Estimation
      $875,000
      208,383 SF

      11330 Amanda Ln

      APARTMENT HOUSE (5+ UNITS) • 208,383 SF
      11330 Amanda Ln, Dallas, TX 75238-4096
      View Details
    • Value Estimation
      $1,155,000
      280,370 SF

      10151 Shoreview Rd

      APARTMENT HOUSE (5+ UNITS) • 280,370 SF
      10151 Shoreview Rd, Dallas, TX 75238-4471
      View Details
    • Value Estimation
      $650,000
      146,892 SF

      8783 Ferndale Rd

      APARTMENT HOUSE (5+ UNITS) • 146,892 SF
      8783 Ferndale Rd, Dallas, TX 75238-3517
      View Details

    Similar Nearby for Sale

    • $450,000
      0.21 Acres

      Updated Duplex in Dallas

      Updated duplex with strong rental income potential in Dallas.
      12816 Pandora Dr, Dallas, TX 75238
      View Details
    • $450,000

      Updated Dallas Duplex Investment

      Updated duplex with reliable cash flow in high-demand Dallas market.
      12816/12818 Pandora Dr, Dallas, TX 75238
      View Details
    • $540,000
      0.22 Acres

      Renovated Duplex in Dallas, TX

      Turnkey duplex with modern finishes, spacious layouts, and private yards.
      11353 Quail Run St, Dallas, TX 75238
      View Details
    • $250,000
      1,215 SF

      Lake Highlands Creative Office Condo

      Spacious Dallas office, updated, great location.
      12989 Jupiter Rd, Dallas, TX 75238
      View Details
    • Contact for pricing
      21,624 SF

      Office Buildings For Sale

      Two office buildings totaling 21,624 square feet in Dallas.
      10055 Shoreview Rd, Dallas, TX 75238
      View Details
    • New
      $800,000
      0.17 Acres

      Cleared Corner Lot in Dallas

      Cleared corner lot in coveted Lake Highlands neighborhood, Dallas, TX.
      8058 Eagle Trl, Dallas, TX 75238
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      14,710 SF

      Audelia Plaza: Medical Office Suites

      Lake Highlands medical office space for lease.
      10725 Audelia Rd, Dallas, TX 75238
      View Details
    • Contact for pricing
      111,250 SF

      Modern Distribution Center Available

      State-of-the-art distribution center suitable for distributors and manufacturers.
      1110 Northpoint Dr, Dallas, TX 75238
      View Details
    • Contact for pricing
      24,077 SF

      Warehouse Space with I-635 Access

      Warehouse space featuring HVAC and immediate access to I-635.
      10401-10411 Miller Rd, Dallas, TX 75238
      View Details
    • $3 SF/Yr
      11,303 SF

      Industrial Space Available For Lease

      Industrial property with 11,303 square feet available for lease.
      10821 Sanden Dr, Dallas, TX 75238
      View Details
    • $10 SF/Yr
      1,890 SF

      Northeast Dallas Warehouse Space

      Office/tech/warehouse space with easy access to major highways.
      10850 Switzer Ave, Dallas, TX 75238
      View Details
    • Contact for pricing
      91 SF

      Adaptable Flex Warehouse Spaces

      Versatile flex warehouse spaces in a prime Dallas business hub.
      11110 Petal St, Dallas, TX 75238
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    8615 Lullwater Dr
    Dallas, TX 75238-4754
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.