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

    9241 Lyndon B Johnson Fwy Dallas, TX 75243-3478

    • Office buildings
    • 24,361 SF
    • 1.02 lot acres
    OFF-MARKET
    Value Estimations
    $600,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-2913716
    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

    • Garrett Creek Ranch Inc / Business Service Center / Conference Center
    • Midnight Movers Transport Solutions / Freight Service / Logistics Company
    • Humane Home Health Services Incorporated / Home Health Care Service
    • Refugee Services of Texas - Administration Office / Corporate Office
    • Shawn W. Mash / Counselor

    Property Details for 9241 Lyndon B Johnson Fwy

    Year built
    1980
    Construction
    TILT-UP CONCRETE
    Lot size
    1.02 lot acres
    Property size
    24,361 SF
    Zone code
    Z200
    Property type
    Office buildings
    APN
    811090300000
    APU
    811090300000

    Description

    This exceptional two-story office building, situated at 9241 Lyndon B Johnson Freeway in Dallas, Texas, offers approximately 27,090 square feet of versatile space, ideal for a variety of uses including medical and traditional office settings. Built in 1980, this Class B property boasts a convenient location overlooking Highway 635, providing easy access to major thoroughfares such as US 75, Interstate 35, and the Dallas Tollway. Its proximity to key areas like the Galleria Mall, Texas Instruments, and numerous cities including Richardson, Mesquite, and Plano, ensures excellent connectivity. Dallas International Airport and Downtown Dallas are also within a 20-minute drive. The building features a clean interior, a second-story elevator and stair access, ample parking with over 100 surface spaces and 30 shared spaces, and an original built-up gravel roof. The property sits on one acre of land and currently has 48% occupancy. With over 270,000 vehicles passing daily, this high-visibility location is perfect for businesses seeking maximum exposure. Each floor comprises approximately 13,495 square feet. The building's size ranges from 26,343 to 27,090 square feet. This property presents a compelling opportunity for businesses seeking a strategic location in the thriving North Dallas market. The zip code is 75243.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $720,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $480,000
      Market price range: $376k - $1.90M

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

    Location Insight

    • Map
    • Local Demand
    City
    Dallas
    County
    Dallas
    State
    Texas
    Longitude
    -96.7401
    Latitude
    32.9157
    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
    $30,527
    $398,660
    $860,690
    $1,259,350
    -
    $398,660
    $860,690
    $1,259,350

    Comparable in this City

    • Value Estimation by Request
      3,974 SF

      8808 Greenville Ave

      OFFICE BUILDING • 3,974 SF
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      View Details
    • Value Estimation
      $1,970,000
      126,000 SF

      8360 Lyndon B Johnson Fwy

      OFFICE BUILDING • 126,000 SF
      8360 Lyndon B Johnson Fwy, Dallas, TX 75243-1130
      View Details
    • Value Estimation
      $3,840,000
      214,816 SF

      8390 Lyndon B Johnson Fwy

      OFFICE BUILDING • 214,816 SF
      8390 Lyndon B Johnson Fwy, Dallas, TX 75243-1188
      View Details
    • Value Estimation
      $1,360,000
      73,584 SF

      11300 Central Expy

      OFFICE BUILDING • 73,584 SF
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      View Details
    • Value Estimation by Request
      10,366 SF

      10956 Audelia Rd

      OFFICE BUILDING • 10,366 SF
      10956 Audelia Rd, Dallas, TX 75243-8204
      View Details
    • Value Estimation
      $1,315,000
      90,200 SF

      9535 Frst Ln

      OFFICE BUILDING • 90,200 SF
      9535 Frst Ln, Dallas, TX 75243-5900
      View Details

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    Dallas, TX 75243-3478
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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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