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Property profile & analytics
OFF-MARKET
Estimated value
$22,475,000
Distribution centers
951 Pleasant Run Rd Lancaster, TX 75146-6501
Entity Owned
3-yr Hold
Free & Clear
Property ID
US82-3214561
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
2023
Construction
STEEL FRAME
Total area
269,008 SF
Lot
16.18 ac (704,975 SF)
APN
360040000102R0000
UPID
US82-3214561
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
North Texas Parking Lot Striping General Contractor Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$26.05M
Comparable Approach
Comparable
$18.90M
Blend (final)
Blend
$22.48M
Owner & transaction history
Bixby Land Company · 3 yrs held
Bixby Land Company
since 2023
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$36.7M
+248.8%
Retail stores
$33.0M
+213.8%
Auto repair, garage
$31.6M
+200.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Lancaster submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lancaster submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$28,220,000
6.5%
$26,050,000
7%
$24,190,000
Alternative Use
Use
Estimation
RESTAURANT
$36,705,000
Change: +249% · Conversion: Difficult
RETAIL STORES
$33,020,000
Change: +214% · Conversion: Moderate
AUTO REPAIR, GARAGE
$31,640,000
Change: +201% · Conversion: Easy
OFFICE BUILDING
$26,205,000
Change: +149% · Conversion: Difficult
MEDICAL BUILDING
$24,070,000
Change: +129% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$16,620,000
Change: +58% · Conversion: Moderate
Blend value · Realmo final
$22.48M
Range $20.23M – $24.72M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$84 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$616,455
Tax year 2024
Assessed value
$25,568,980
Assessed 2024
Previous assessed
$2,819,900
+806.7% YoY
Effective rate
2.41%
On assessed value
Assessed land
$1,762,440
Assessed improvement
$23,806,540
Land market value
$1,762,440
Improvement market value
$23,806,540
Total market value
$25,568,980
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
2023
Construction
STEEL FRAME
Heating
PARTIAL
Cooling
PARTIAL
Stories
1
Units
1
Total area
269,008 SF
Lot
16.18 ac (704,975 SF)
APN
360040000102R0000
UPID
US82-3214561
Jurisdiction
DALLAS
Metro division
DALLAS-PLANO-IRVING, TX METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$36.7M
RETAIL STORES
Est. value
$33.0M
AUTO REPAIR, GARAGE
Est. value
$31.6M
OFFICE BUILDING
Est. value
$26.2M
MEDICAL BUILDING
Est. value
$24.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$16.6M
RESTAURANT
RETAIL STORES
AUTO REPAIR, GARAGE
OFFICE BUILDING
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2023
Construction
STEEL FRAME
Heating
PARTIAL
Cooling
Yes
Stories
1
Units
1
Lot
16.18 ac
Current owner
From public records · entity-resolved
Bixby Land Company
Entity
Free & Clear · 3 yrs held
Mailing address
1501 QUAIL ST STE #230, NEWPORT BEACH, CA 92660-2740
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 21, 2023
—
Bixby Land Company
Lancaster 100 LLC
Special Warranty Deed
—
May 19, 2022
—
Lancaster 100 LLC
Hira INC
Special Warranty Deed
$24,336,304 · First Horizon Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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