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    • Hotels
    • 57,135 SF
    • 2.02 lot acres
    Off-Market
    Last Sale Dec 14, 2023
    Property ID
    US82-4968372
    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.
    Value Estimations
    $945,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Homewood Suites by Hilton Dallas-Park Central Area / Hotel & Motel / Vacation Rental

    Property Details

    Year built
    1997
    Construction
    FRAME
    Lot size
    2.02 lot acres
    Zone code
    Z151
    Property type
    Hotels
    APN
    008415000001C0000
    APU
    008415000001C0000

    Description

    This exceptional 78-key Homewood Suites by Hilton, located at 9169 Markville Dr, Dallas, TX 75243, presents a compelling investment opportunity. The three-story, 57,135 square foot hotel, built in 1997 and extensively renovated in 2019, offers a contemporary guest experience. Situated on an 87,935 square foot lot, the property boasts a favorable price per key of $117,947 and a price per square foot of $161.02, reflecting strong value in the current market. The hotel's Class B designation and convenient parking ratio of 1.35 spaces per 1,000 square feet enhance its appeal. This prime Dallas location, within a thriving neighborhood experiencing population growth and strong income demographics, promises a robust return on investment. The asking price is $8,799,900. This is a rare chance to acquire a well-maintained, high-performing hotel in a desirable area with significant upside potential. The property's recent renovations ensure it's ready for immediate operation and continued success. Don't miss this chance to own a piece of Dallas's thriving hospitality sector.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $915,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $968,000
      Market price range: $488k - $2.23M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $1,215,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Dallas
    County
    Dallas
    State
    Texas
    Longitude
    -96.7426
    Latitude
    32.9141
    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
    $113,930
    $1,319,030
    $3,380,970
    $4,700,000
    -
    $1,319,030
    $3,380,970
    $4,700,000

    Comparable in this City

    • Value Estimation
      $1,180,000
      78,600 SF

      12411 Central Expy

      HOTEL
      12411 Central Expy, Dallas, TX 75243-1701
      View Details
    • Value Estimation
      $900,000
      59,060 SF

      12525 Greenville Ave

      HOTEL
      12525 Greenville Ave, Dallas, TX 75243-2058
      View Details
    • Value Estimation
      $805,000
      44,508 SF

      9230 Lyndon B Johnson Fwy

      HOTEL
      9230 Lyndon B Johnson Fwy, Dallas, TX 75243-3402
      View Details
    • Value Estimation
      $1,660,000
      140,007 SF

      9519 Frst Ln

      HOTEL
      9519 Frst Ln, Dallas, TX 75243-5901
      View Details
    • Value Estimation by Request
      17,193 SF

      13348 Central Expy

      HOTEL
      13348 Central Expy, Dallas, TX 75243
      View Details
    • Value Estimation
      $940,000
      48,759 SF

      12301 Central Expy

      HOTEL
      12301 Central Expy, Dallas, TX 75243-3721
      View Details

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    Similar Nearby for Lease

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      Retail space available near I-635E with high consumer spending.
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      Functional Flex Space in Dallas

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      LBJ Freeway Office Space Available

      Full floor office spaces with large open area for rent.
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      22,772 SF

      Dallas Warehouse Space Available

      Industrial warehouse space available for lease in Dallas, Texas.
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      View Details
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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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