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

    989 Keller Pkwy Keller, TX 76248-3610

    • Drive through restaurants
    • 4,633 SF
    • 0.83 lot acres
    OFF-MARKET
    Value Estimations
    $460,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-2838523
    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

    • Smirna Phillips / Hospice

    Property Details for 989 Keller Pkwy

    Year built
    1992
    Lot size
    0.83 lot acres
    Property size
    4,633 SF
    Property type
    Drive through restaurants
    APN
    2850-8-2
    APU
    285082

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $400,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $523,000
      Market price range: $250k - $713k

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $535,000
      Current use
      OFFICE BUILDING
      $645,000
      Change: +20% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Keller
    County
    Tarrant
    State
    Texas
    Longitude
    -97.2298
    Latitude
    32.9348
    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
    $26,990
    $518,314
    $923,686
    $1,442,000
    -
    $518,314
    $923,686
    $1,442,000

    Comparable in this City

    • Value Estimation
      $330,000
      1,938 SF

      962 Keller Pkwy

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,938 SF
      962 Keller Pkwy, Keller, TX 76248
      View Details
    • Value Estimation
      $520,000
      4,266 SF

      455 Keller Pkwy

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,266 SF
      455 Keller Pkwy, Keller, TX 76248-2302
      View Details
    • Value Estimation
      $480,000
      3,429 SF

      1471 Keller Pkwy

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,429 SF
      1471 Keller Pkwy, Keller, TX 76248-3620
      View Details
    • Value Estimation
      $360,000
      1,911 SF

      951 Keller Pkwy

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,911 SF
      951 Keller Pkwy, Keller, TX 76248-3610
      View Details
    • Value Estimation
      $375,000
      2,476 SF

      1125 Main St

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,476 SF
      1125 Main St, Keller, TX 76248
      View Details
    • Value Estimation
      $330,000
      2,308 SF

      751 Keller Pkwy

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,308 SF
      751 Keller Pkwy, Keller, TX 76248-2404
      View Details

    Similar Nearby for Sale

    • $1,800,000
      5,000 SF

      New Shell Building in Keller

      5,000 SF shell building in historic Old Town Keller.
      207 S Elm St, Keller, TX 76248
      View Details
    • Contact for pricing
      8,620 SF

      Restaurant in Old Town Keller

      8,620 SF fully equipped restaurant for sale.
      250 S Main St, Keller, TX 76248
      View Details
    • $875,000
      0.41 Acres

      Keller Retail/Bar Opportunity For Sale

      Established bar with loyal clientele and outdoor seating in Keller.
      444 Keller Pkwy, Keller, TX 76248
      View Details
    • Contact for pricing
      22,500 SF

      Prime Retail Location in Keller

      Retail building with ample land in central Keller, Texas.
      550 N Main St, Keller, TX 76248
      View Details
    • $2,375,000
      0.92 Acres

      Retail Zoned Property in Keller

      Retail zoned property with parking and immediate occupancy potential.
      200 Meadowlands Blvd, Keller, TX 76248
      View Details
    • Contact for pricing
      6,065 SF

      Retail Space Near Kroger Center

      Former fitness space with patio, across from Kroger.
      861 N Tarrant Pkwy, Keller, TX 76248
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,081 SF

      Restaurant with Drive-Thru Available

      Second generation restaurant with drive-thru for sublease.
      103 N Main St, Keller, TX 76248
      View Details
    • $35 SF/Yr
      7,500 SF

      Keller Commons: Prime Office Space

      Modern Office Suites, Q2 2025 Delivery
      1637 Keller Pkwy, Keller, TX 76248
      View Details
    • Contact for pricing
      2,406 SF

      Keller Parkway Retail/Restaurant/Office Space

      Available retail, restaurant, and office spaces on Keller Parkway.
      721 Keller Pkwy, Keller, TX 76248
      View Details
    • $1.00 SF/Yr
      2,000 SF

      Keller Shopping Center Office Space

      Prime Keller Office: 2,000 sq ft, Single Tenant
      841 Tarrant Pkwy, Keller, TX 76248
      View Details
    • Contact for pricing
      93,541 SF

      Keller Place Retail Spaces

      Prime Keller location, multiple spaces available
      2041-2061 Rufe Snow Dr, Keller, TX 76248
      View Details
    • Contact for pricing
      1,875 SF

      Keller Retail Space Available

      Newly renovated restaurant space, prime location.
      2041 Rufe Snow Dr, Keller, TX 76248
      View Details

    Property Visit Statistics

    • Visits by month
      33.0k
    • Visitors by month
      18.5k
    • Avg Time on site
      12 min
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    989 Keller Pkwy
    Keller, TX 76248-3610
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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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