BETASEARCH PROPERTY WORKSHEET

Property worksheet

11031 Grissom Lane, Dallas, TX 75229

AI starting value$1,950,000

AI starting opinion

AI gives the value. This worksheet lets you prove it or adjust it. Use the research, choose comps and refine assumptions to support your conversations with a banker, lender, partner or buyer.

AI estimated value
$1,950,000
Estimated range
$1,750,000 – $2,150,000

Estimated market value as of September 17, 2026. Verified facts: the property is actively offered at $2,250,000; it contains approximately 11,608 SF on 0.97 acre and was built in 2003. The value is estimated—not an appraisal—and reflects the lengthy marketing period, market pricing, income potential and depreciated replacement cost.

Starting assumptions and sources
  • Arm's-length sale with typical financing and reasonable exposure time.
  • Buildings are in average-to-good condition without major structural, environmental or title issues.
  • The advertised 11,608 SF building area and 0.97-acre site are accurate.
  • No unusual leases, equipment or business value are included.

Property use
Single-tenant light-industrial office/showroom/warehouse property comprising two buildings: approximately 4,608 SF office and 7,000 SF warehouse; fenced and paved yard.
Gross building area (SF)
Units / rentable spaces (optional)Used for the separate $/unit comparison and applicable unit-based income. Missing units never blocks $/SF.
Lot area (SF)
42,253.2
Year built / stories
2,003 / 1
Research basis

Submitted address matches the identified property and Dallas County parcel 006608000001A0000. Public offering materials list 11,608 SF on approximately 0.97 acre and an asking price of $2,250,000 as of September 17, 2026; source: Morgan Realty Group listing distributed through LoopNet/Cityfeet.

AI Sales starting opinionEstimated at roughly $168/SF. Verified benchmarks include the property's $193.83/SF asking price, Q2 2026 DFW industrial pricing near $148–$157/SF, and Q1 pricing around $143/SF. A premium is applied for its small, infill owner-user size, substantial office component, secured yard and freeway access; a discount is applied to the asking price because it is an offer rather than a closed sale and has had extended market exposure.
$1,950,000
Sales estimated range
$1,750,000 – $2,150,000
Sales starting assumptions and sources
  • Comparable closed-sale details were limited; broad market benchmarks were adjusted judgmentally.
  • Office/showroom improvements and small-building scarcity support above-market-average pricing.
  • Marketing and transaction costs are not deducted.

Use the details below to prove or adjust this opinion. In Value summary, choose the AI opinion, your worksheet calculation or your own value.

Reconciled starting assumptions: The selected-comp calculation starts at $2,356,879. The editable overall adjustment of -17.263457% was calculated to reproduce the $1,950,000 AI Sales opinion. It is not an independently supported comp adjustment. Original comp prices and selections remain available to review. These assumptions reproduce the AI opinion; they are not independent confirmation of it.

How Sales works: Sales starts with the AI opinion above. Compare the property with similar properties using prices per square foot or per unit, then choose Worksheet calculation in Value summary to use your selected comps. Asking prices are seller expectations, not completed transactions; the price basis is shown below.

Improve your estimate: Click any property address to see what Google finds, then fill in or correct the comp’s price, building size and other details here. Our research focuses on your subject property, so we don’t fully investigate every comparable. Verifying and completing the comps you choose is one of the best ways to make your estimate more accurate.

Show comps40 of 40 shown · 40 selected

All comps are selected to start, with equal weights. Change any selection or weight. Grades are guidance and do not change weights. All candidates stay in this table. Use selects a comp for calculations and print; unchecking it keeps the row here. A/B/C filters only change visibility. $/SF and $/unit work independently.

UseAddressStatusPriceBuilding SFUnits$/SF$/unitSold dateMilesGradeWeight
11211 Gemini Lane, Dallas, TX 75229
Details

Current offering identifies a single-tenant industrial building on 1.19 acres with convenient access to I-35E, Loop 12 and I-635.

Immediate Northwest Dallas location; industrial use and 23,915 SF is near the upper end of the preferred range.

activeAsking price$130.00$3,108,950—0.6
10582 Spangler Road, Dallas, TX 75220
Details

Offering describes Building A at approximately 4,720 SF and Building B at approximately 8,200 SF on 1.11 acres, with outdoor storage, heavy power and two grade-level doors. Current detailed page is unpriced.

Nearby Northwest Dallas industrial location; two-building configuration, yard utility and 12,920 SF closely match the subject.

Incomplete lead retained
activeAsking price———2.4
10964 Shady Trail, Dallas, TX 75220
Details

Crexi warehouse inventory presents the property as an 11,000 SF industrial offering at a $2,000,000 asking price.

Nearby Northwest Dallas industrial corridor and nearly identical 11,000 SF scale.

activeAsking price$181.82——1.3
2020 W Northwest Highway, Dallas, TX 75220
Details

Two 5,500 SF buildings on 0.84 acre, constructed in 2002 and renovated in 2023; marketed for retail/warehouse or owner-user occupancy with parking and 14-16 foot ceilings.

Nearby Northwest Dallas location, two-building layout and 11,000 SF size are highly similar; retail component is a secondary difference.

activeAsking price$217.27$597,500—2.6
11252 Goodnight Lane, Dallas, TX 75229
Details

Current Dallas warehouse inventory identifies a 5,580 SF industrial/mixed-use offering at $1,200,000.

Immediate subject ZIP code and compatible industrial use, but 5,580 SF is slightly below the preferred range.

activeAsking price$215.05——1.0
11666 & 11670 Harry Hines Boulevard, Dallas, TX 75229
Details

Marketed as the City Motor Supply Building near I-35E and I-635; asking price is $4,100,000. PropertyShark reports approximately 33,436 SF.

Very close Northwest Dallas location and compatible use, but the approximately 33,436 SF size materially exceeds the preferred range.

activeAsking price$122.62——0.6
1746 Rhome Street, Dallas, TX 75229
Details

Current Northwest Dallas warehouse offering is advertised at $2,995,000 for 28,130 SF.

Immediate subject ZIP and industrial use, but 28,130 SF is above the preferred size range.

activeAsking price$106.47——1.7
10711 Shady Trail, Dallas, TX 75220
Details

Crexi identifies an unpriced 7,200 SF industrial/land offering on Shady Trail.

Nearby Northwest Dallas industrial location and 7,200 SF building within the preferred range.

Incomplete lead retained
activeAsking price———1.9
10105 W Technology Boulevard, Dallas, TX 75220
Details

Current offering reports 20,678 SF at $3,290,000. Available space descriptions include offices and HVAC warehouse area.

Nearby Northwest Dallas location with office and warehouse functionality; 20,678 SF is within the preferred range.

activeAsking price$159.11——2.8
2839 Nagle Street, Dallas, TX 75220
Details

Marketed as a 10,350 SF industrial, warehouse and flex property; asking price is undisclosed.

Nearby Northwest Dallas location, compatible flex/warehouse use and 10,350 SF scale closely match the subject.

Incomplete lead retained
activeAsking price———2.5
10401 Harry Hines Boulevard, Dallas, TX 75220
Details

Bradford reports a completed sale of the 1970-built warehouse on 1.02 acres after multiple offers; buyer and seller were identified, but price and exact closing date were not published.

Excellent Northwest Dallas corridor similarity and compatible use, but 30,400 SF is materially larger than the subject.

Incomplete lead retained
soldClosed sale price———2.4
3109 Garden Brook Drive, Farmers Branch, TX 75234
Details

Offering reports 6,000 SF of office, three office pods, three dock-high doors, heavy power and potential partial owner occupancy with remaining space rented.

Immediate neighboring Northwest Dallas submarket, compatible office/flex-industrial use and 20,368 SF within the preferred range.

activeAsking price$179.01——3.7
3106-3108 Garden Brook Drive, Farmers Branch, TX 75234
Details

PropertyShark's Farmers Branch sale inventory reports an 11,660 SF industrial property offered at $2,200,000.

Immediate neighboring industrial submarket with nearly identical 11,660 SF scale.

activeAsking price$188.68——3.7
13738 Neutron Road, Farmers Branch, TX 75244
Details

PropertyShark identifies a 7,325 SF industrial building built in 1972 and currently offered with pricing by inquiry.

Immediate neighboring Northwest Dallas industrial submarket and 7,325 SF is within the preferred range.

Incomplete lead retained
activeAsking price———4.0
2824 Valley View Lane, Farmers Branch, TX 75234
Details

Weitzman labels the property sold and reports a 5,974 SF building on 0.68 acre; sale price and exact sale date were not published.

Nearby location and 5,974 SF scale are useful, but the reported existing use is office rather than light industrial warehouse.

Incomplete lead retained
soldClosed sale price———1.7
4821 Simonton Road, Farmers Branch, TX 75244
Details

Bankruptcy-sale source labels the facility sold and describes 63,940 SF on 5.52 acres with six docks, light-industrial zoning and inactive rail spur. Published $2,733,000 figure was a minimum bid, not treated as the closed price.

Nearby Northwest Dallas submarket and compatible industrial use, but 63,940 SF is substantially larger than the subject.

Incomplete lead retained
soldClosed sale price———4.2
1450 & 1452 Halsey Way, Carrollton, TX 75007
Details

Current Carrollton warehouse offering reports 16,000 SF at a $3,950,000 asking price.

Neighboring-town industrial property with a comparable 16,000 SF scale.

activeAsking price$246.88——6.5
2440 Lacy Lane, Carrollton, TX 75006
Details

Crexi identifies an unpriced 17,556 SF industrial offering.

Neighboring Carrollton industrial location and 17,556 SF size fall within the preferred range.

Incomplete lead retained
activeAsking price———2.7
1935 Old Denton Road, Carrollton, TX 75006
Details

Marketed as a multipurpose building in Carrollton at a $1,150,000 asking price; accessible evidence does not state building area.

Neighboring Carrollton location and potential light-industrial functionality are useful, though building SF was not reported in the accessible listing evidence.

Incomplete lead retained
activeAsking price———4.9
4241 & 4245 Marsh Ridge Road, Carrollton, TX 75010
Details

Listing describes two office buildings, each with warehouse functionality, totaling approximately 8,085 SF; asking price is undisclosed.

Neighboring-town office/warehouse use and 8,085 SF scale are reasonably comparable.

Incomplete lead retained
activeAsking price———8.9
4305 Marsh Ridge Road, Carrollton, TX 75010
Details

Current offering identifies a 5,685 SF office/flex property at $1,350,000.

Neighboring-town flex use is compatible; 5,685 SF is just below the preferred range.

activeAsking price$237.47——9.0
3033 W Royal Lane, Building 2, Irving, TX 75063
Details

Marketed as a Las Colinas office/showroom/warehouse with abundant parking and outside storage at $3,295,000.

Nearby Irving/DFW Airport submarket, highly similar office-showroom-warehouse use, outside storage and 16,197 SF scale.

activeAsking price$203.43——5.8
2120 Regency Drive, Irving, TX 75062
Details

Current Irving industrial inventory reports an 8,280 SF offering at $4,000,000.

Nearby Irving industrial location and 8,280 SF size within the preferred range; available evidence does not confirm office/showroom ratio or yard.

activeAsking price$483.09——4.4
2205 Regency Drive, Irving, TX 75062
Details

Current listing identifies a 24,000 SF industrial property with pricing undisclosed.

Nearby Irving industrial location, but 24,000 SF is slightly above the preferred range and detailed use features are incomplete.

Incomplete lead retained
activeAsking price———4.3
2075 Maryland Drive, Irving, TX 75061
Details

Useful smaller industrial lead retained from current Irving sale inventory; asking price is undisclosed.

Nearby Irving location and compatible use, but 3,240 SF is substantially smaller than the subject.

Incomplete lead retained
activeAsking price———4.6
1957 E Irving Boulevard, Irving, TX 75060
Details

Offering describes a functioning studio and approximately 1,050 SF production room within a manufacturing/flex property; total building SF and asking price were not disclosed in accessible evidence.

Nearby Irving location and compatible manufacturing/flex use; building size is missing from accessible evidence.

Incomplete lead retained
activeAsking price———6.8
635 Robbie Drive, Irving, TX 75061
Details

Current Irving industrial inventory reports a 6,525 SF retail-classified offering with a 6.5% stated cap rate; asking price is undisclosed.

Nearby Irving location and 6,525 SF scale are useful, but reported retail emphasis is less similar than a dedicated office/warehouse.

Incomplete lead retained
activeAsking price———8.4
2050 Irving Boulevard, Dallas, TX 75207
Details

Marketed as 6,750 SF of office, warehouse and showroom space for sale or lease in the Design District; sale asking price is undisclosed.

Same-city infill industrial/showroom use and 6,750 SF within the preferred range, but farther from the subject corridor.

Incomplete lead retained
activeAsking price———7.9
2344-2348 Irving Boulevard, Dallas, TX 75207
Details

Current industrial offering totals 9,718 SF; asking price is undisclosed.

Same-city industrial evidence with comparable 9,718 SF scale; Design District location is farther from the subject.

Incomplete lead retained
activeAsking price———7.6
2062 Irving Boulevard, Dallas, TX 75207
Details

Marketed as 13,410 SF of office/showroom/warehouse space for sale or lease in the Design District; sale asking price is undisclosed.

Highly compatible use and 13,410 SF scale in Dallas, though farther from the subject's Northwest Dallas location.

Incomplete lead retained
activeAsking price———7.9
2028-2032 Farrington Street, Dallas, TX 75207
Details

Current Dallas industrial inventory reports an 11,951 SF offering with asking price undisclosed.

Same-city industrial use and nearly identical 11,951 SF scale; location is farther south than the subject corridor.

Incomplete lead retained
activeAsking price———7.8
923-925 Slocum Street, Dallas, TX 75207
Details

Marketed as a 16,847 SF duplex suitable for industrial, creative-office and showroom uses; asking price is undisclosed.

Compatible showroom/industrial use and 16,847 SF size, but Design District location and duplex configuration differ from the subject.

Incomplete lead retained
activeAsking price———8.9
4027 Main Street, Dallas, TX 75226
Details

Current offering describes a 16,400 SF office/showroom/warehouse at a $2,450,000 asking price.

Highly compatible use and 16,400 SF scale in Dallas, but farther from Northwest Dallas.

activeAsking price$149.39——10.2
13550 Vargon Street, Dallas, TX 75243
Details

Marketed as an 8,094 SF flex/industrial building in Floyd Circle at $2,250,000.

Same-city compatible flex-industrial use and 8,094 SF size, but northeast Dallas location is less similar.

activeAsking price$277.98——8.5
10426 C F Hawn Freeway, Dallas, TX 75217
Details

Offering describes a 5,000 SF office-warehouse/showroom with one roll-up grade door, highway frontage and fenced yard on nearly three-quarters of an acre.

Very similar functional use and fenced-yard feature, but only 5,000 SF and located in southeast Dallas.

activeAsking price$159.00$795,000—19.8
11909-11931 C F Hawn Freeway, Dallas, TX 75253
Details

Current offering reports 7,073 total SF on 0.99 acre and a fully fenced site; asking price is undisclosed.

Compatible service-industrial use, 7,073 SF scale and fenced site, but distant southeast Dallas location reduces comparability.

Incomplete lead retained
activeAsking price———21.5
5515 Parkdale Drive, Dallas, TX 75227
Details

Current offering identifies a 5,200 SF industrial building at a $1,200,000 asking price.

Same-city industrial evidence, but 5,200 SF is below the preferred range and southeast Dallas is less similar.

activeAsking price$230.77——12.4
1467-1471 Prudential Drive, Dallas, TX 75235
Details

Current industrial sale inventory reports 13,491 SF with pricing subject to offer.

Relatively close Medical District/Stemmons location and comparable 13,491 SF industrial scale.

Incomplete lead retained
activeAsking price———5.4
5131 Sharp Street, Dallas, TX 75247
Details

Current Dallas industrial inventory identifies a 12,600 SF offering; no dollar asking price was published.

Brookhollow/Stemmons industrial location and 12,600 SF size are closely comparable; detailed office and yard features are unavailable.

Incomplete lead retained
activeAsking price———6.2
1233 Medical District Drive, Dallas, TX 75207
Details

Current Dallas warehouse inventory reports a 15,000 SF industrial offering at $2,500,000.

Relatively close Stemmons/Medical District location and comparable 15,000 SF industrial scale.

activeAsking price$166.67——7.1
Research basis

Focused research began in the subject's Northwest Dallas/75229 corridor, then expanded to Farmers Branch, Carrollton, Irving and other Dallas industrial districts. Publicly accessible sources produced three explicit closed-sale leads, but none disclosed a verified closing price; those records are retained with null prices rather than substituting asking prices or minimum bids. The remaining candidates are current sale offerings, and every stated dollar figure is labeled as an asking price.

Current offering identifies a single-tenant industrial building on 1.19 acres with convenient access to I-35E, Loop 12 and I-635.

Offering describes Building A at approximately 4,720 SF and Building B at approximately 8,200 SF on 1.11 acres, with outdoor storage, heavy power and two grade-level doors. Current detailed page is unpriced.

Crexi warehouse inventory presents the property as an 11,000 SF industrial offering at a $2,000,000 asking price.

Two 5,500 SF buildings on 0.84 acre, constructed in 2002 and renovated in 2023; marketed for retail/warehouse or owner-user occupancy with parking and 14-16 foot ceilings.

Current Dallas warehouse inventory identifies a 5,580 SF industrial/mixed-use offering at $1,200,000.

Marketed as the City Motor Supply Building near I-35E and I-635; asking price is $4,100,000. PropertyShark reports approximately 33,436 SF.

Selected comps · by building area0 closed sales · 18 asking prices
$203.04/SF → $2,356,879

Closed sales

Selected closed sales only. Each calculation uses the available SF or unit count independently.

Limited closed-sale evidence. Income and Cost remain independent cross-checks.

By building area0 compatible closed sales
—/SF → —
By unit0 compatible closed sales
—/unit → —

Asking market check

Active and pending asking prices are shown separately here so you can compare them with closed sales. The comp calculations use all selected priced comps; the AI estimate remains separate.

By building area18 compatible asking comps
$203.04/SF → $2,356,879
By unit3 compatible asking comps
$1,500,483/unit → —
Sales before overall adjustmentAsking prices
$2,356,879
Overall Sales adjustment (%)One editable adjustment to the chosen comp calculation. Comp prices and selections stay editable.
Sales worksheet calculationSelected-comp value × (1 + overall adjustment / 100).
$1,950,000

AI Income starting opinionEstimated stabilized NOI of approximately $130,000–$140,000, capitalized near 7.25%. The estimate assumes blended NNN market rent around $13.50–$14.50/SF, reflecting higher-value office/showroom space and lower-value warehouse space. The selected cap rate exceeds institutional averages because this is a small, Class C, single-tenant property with elevated Northwest Dallas vacancy risk.
$1,850,000
Income estimated range
$1,550,000 – $2,100,000
Income starting assumptions and sources
  • Market rent averages approximately $14/SF NNN across the mixed office/warehouse area.
  • Stabilized vacancy and collection loss is 8%–10%.
  • Landlord-paid reserves, management and nonrecoverable expenses equal roughly 8%–12% of effective revenue.
  • A 7.0%–8.0% capitalization-rate range is appropriate; actual lease terms were unavailable.

Use the details below to prove or adjust this opinion. In Value summary, choose the AI opinion, your worksheet calculation or your own value.

Reconciled starting assumptions: The $13.50/SF/year blended NNN rent and 7.25% cap rate use the AI ranges for the office/warehouse mix. The worksheet retains 95% occupancy, versus 90%–92% in the AI answer. Derived expenses are approximately 9.9% of effective rent. Separate expense reimbursements are zero because this simplified scenario uses net landlord expenses. Annual expenses of $14,748 were calculated to reproduce $1,850,000. These are editable starting assumptions, not actual operating accounts. These assumptions reproduce the AI opinion; they are not independent confirmation of it.

How Income works: Estimate the annual income left after vacancy and operating expenses, before loan payments and income taxes. This net operating income (NOI), divided by a market capitalization rate (cap rate), gives an income-based value indication.

Commercial lane: rent is handled by rentable square feet per year.

Research basis

Estimated NNN market rent of $13.00/SF/year. Northwest Dallas' Q2 2026 direct NNN average was $11.37/SF/year, while nearby current NNN flex/light-industrial offerings range from $9.50 to $14.00/SF/year. The subject's 2003 construction, approximately 40% office/showroom component, five grade-level doors, and fenced paved yard support a rate above the broad submarket average but below the upper nearby NNN observation.

Q2 2026 total industrial vacancy for the Northwest Dallas submarket was 11.3%; this exact local submarket measure is used rather than the subject's occupancy or the lower 8.8% DFW-wide rate.

Estimated at $4.00/SF/year for real estate taxes, building insurance, paved-yard/building maintenance, and administrative or management costs. Local guidance places DFW industrial taxes near $1.50-$2.50/SF and aggregate NNN charges near $2.00-$4.00/SF; the upper end is applied because the subject's published assessment is $1.70 million and it has two buildings plus a large paved and fenced yard. Market rent is modeled NNN, so the same $46,432 is included as collected expense reimbursements in other_income_annual. Tenant-paid utilities and operating costs outside owner accounts are excluded, preventing double subtraction. Exact current tax bill and insurance premium were not publicly established.

Practical stabilized NOI cap-rate estimate synthesized from Q4 2025 DFW industrial transaction averages of 6.2%-6.4% and a mid-2026 market cap rate of 6.2% with reported transactions averaging 6.9%. The 6.75% selection reflects the subject's small private-investor size, Class C designation, specialized office/showroom mix, and single-tenant rollover or reletting risk relative to institutional logistics properties.

Income inputs assume stabilized leasing on a NNN basis for 11,608 rentable SF. The subject is marketed for sale at $2,250,000, but no independent evidence of an existing lease, actual contract rent, or subject asking rent was located; the sale price was not used to derive rent or capitalization rate. No potential income, NOI, income value, or reconciliation was calculated.

Subject identity and physical characteristics · 11031 Grissom Ln, Dallas, TX 75229 · 11,608 rentable SF · Current sale offering identifies two buildings: approximately 4,608 SF office and 7,000 SF warehouse on 0.97 acre, built 2003, with 16'-18' clear height, five grade-level doors, and paved fenced secured yard. Published assessment is $1,700,000. No subject lease rent was reported.

Immediate-corridor modified-gross asking rent · 10836 Grissom Ln, Dallas, TX 75229 · 10.56 $/SF/year · Current 2,500-SF light-manufacturing/flex offering; $2,200/month or $10.56/SF/year; modified-gross lease, three-year term. Same street but smaller, older (1974), and only 12-foot clear height.

Immediate-area NNN asking rent · 11414 Reeder Rd, Dallas, TX 75229 · 14 $/SF/year · Current 5,353-SF flex offering at $14.00/SF/year NNN, three-to-five-year term; 16-foot clear height and Northwest Dallas location.

Rentable area (SF)
Market rent / SF / yearBetaSearch market-rent estimate from current local research.
$13.00
Rent used in calculation / SF / yearReconciled starting assumption described above. Change it to use your own figure.
Assumed occupancy (%)Starts at 95%, allowing 5% for vacancy and collection loss. This is an editable worksheet assumption, not verified current occupancy.
Researched vacancy / collection loss (%)Research context only. The calculation uses your assumed occupancy above.
11.3
Potential rental incomeRentable area × annual rent used.
$156,708
Other annual income ($)
Effective gross incomePotential income minus vacancy loss, plus other annual income.
$148,873
Annual operating expenses ($)Reconciled expense assumption described above; replace it with actual expenses when available.
Net operating incomeEffective gross income minus annual operating expenses.
$134,125
Capitalization rate (%)NOI ÷ cap rate = Income indication.
Income worksheet calculation
$1,850,000

AI Cost starting opinionEstimated depreciated replacement cost. A blended replacement cost was applied to approximately 7,000 SF of warehouse and 4,608 SF of office, plus paving, fencing, utilities, professional fees and land. Physical and functional depreciation was then deducted for the approximately 23-year-old improvements. This approach is less precise because detailed construction quality, effective age and independent land comparables were unavailable.
$2,050,000
Cost estimated range
$1,750,000 – $2,350,000
Cost starting assumptions and sources
  • Blended direct and indirect replacement cost is approximately $165–$195/SF because nearly 40% of the building is office.
  • Site improvements contribute approximately $200,000–$300,000 before depreciation.
  • Land value is approximately $350,000–$500,000, exceeding the reported $274,080 tax land assessment.
  • Total improvement depreciation is approximately 25%–35%.

Use the details below to prove or adjust this opinion. In Value summary, choose the AI opinion, your worksheet calculation or your own value.

Reconciled starting assumptions: $190/SF replacement cost plus an assumed $250,000 for paving, fencing and other site improvements is expressed as one equivalent $211.54/SF improvement rate. Assumed land is $425,000, within the AI opinion’s range; the separate saved Cost research estimated $950,000 and remains available in Research basis. Depreciation includes the two-building layout and substantial office content. This sample is office/warehouse flex, approximately 39.7% office; the research correctly uses its industrial context. Total depreciation of 33.822571% was calculated to reproduce $2,050,000 including land. These assumptions reproduce the AI opinion; they do not independently verify it. These assumptions reproduce the AI opinion; they are not independent confirmation of it.

How Cost works: Estimate what it would cost to replace the building today, subtract depreciation for age, condition and obsolescence, then add the land value.

Research basis

Practical September 2026 replacement-cost input for the subject's 11,608 gross SF, two-building configuration. The selection recognizes approximately 39.7% office/showroom and 60.3% warehouse, small-project cost premiums, 16-18-foot clear height, five grade-level doors, and the paved/fenced site. Local observations range from $75-$100/SF for DFW industrial ground-up to $150-$220/SF for light-industrial/PEMB construction; $190/SF is appropriate toward the upper portion because the subject has substantially more finished office area than a typical warehouse. Scope and condition were not independently inspected.

Overall real-property depreciation estimate as of September 17, 2026. The improvements are approximately 23 years old. A roughly 19-year effective age against an assumed 50-year economic life supports about 38% depreciation. The current listing describes the buildings as well maintained, but no documented major renovation was found and the condition statement is broker-provided. The two-building layout and approximately 40% office content create some functional-market uncertainty, although the clear height, grade-level doors, fenced yard and infill industrial location remain serviceable. No material external obsolescence was identified. Reasonable uncertainty is approximately plus or minus 8 percentage points pending inspection and renovation history.

Estimated market land indication of approximately $22.50 per subject lot SF, applied to 42,253 SF and rounded to $950,000. This is synthesized primarily from active Northwest Dallas industrial/infill land offerings at approximately $21.14/SF and $29.98/SF. The subject is an interior industrial site without the freeway-corner exposure of the higher-priced pad-site evidence, supporting a selection near the lower end. Listings are asking prices rather than verified closed sales. The subject's $274,080 assessed land allocation, approximately $6.49/SF, is retained only as assessment context and was not treated as market value.

Subject property identity and physical characteristics · 11031 Grissom Ln, Dallas, TX 75229 · 11,608 gross building SF · Current offering identifies two well-maintained buildings comprising approximately 4,608 SF office and 7,000 SF warehouse on 0.97 acre; built 2003, 16-foot-8-inch clear height, five grade-level doors, fenced lot and IR zoning.

Newmark 2025 DFW industrial ground-up benchmark · Dallas-Fort Worth, TX · 75 USD per SF lower endpoint · Newmark's 2025 Construction Cost Market Guide reports $75-$100/SF for industrial ground-up in Dallas-Fort Worth. The same guide reports $350-$470/SF for office ground-up and $95-$160/SF for office interiors, illustrating the premium associated with the subject's large finished-office component.

2026 DFW warehouse construction range · Dallas-Fort Worth, TX · 95 USD per SF lower endpoint · Local builder reports an overall 2026 warehouse range of $95-$180/SF. Standard warehousing and storage is quoted at $95-$135/SF; a typical 20,000-SF warehouse with minimal office is stated at $2-$3 million including site work.

2026 Dallas industrial/flex directional range · Dallas, TX · 85 USD per SF lower endpoint · Local developer reports approximately $85-$160/SF for Dallas tilt-wall warehouse and flex industrial. It states Dallas proper is roughly 8%-15% above suburban DFW and that office percentage, clear height, doors, slab specifications and infill constraints materially affect cost.

2026 DFW light-industrial/PEMB range · Dallas-Fort Worth, TX · 150 USD per SF lower endpoint · DFW construction guide quotes $150-$220/SF for light-industrial/PEMB facilities. This is more applicable than large distribution-shell benchmarks to the subject's smaller office/showroom/warehouse configuration.

Building SF
11,608
Replacement cost / SFReconciled replacement-cost assumption described above.
Replacement cost newBuilding SF × replacement cost / SF.
$2,455,520
Total depreciation (%)Reconciled overall depreciation, including physical and economic obsolescence. Editable.
Depreciated building valueReplacement cost new after total depreciation.
$1,625,000
Land value ($)Market land indication from research. Change it if you want your own assumption.
Cost worksheet calculationDepreciated building value + market land value.
$2,050,000

Value summary

These editable worksheet assumptions start at the AI approach opinions. Changing inputs changes the calculated values below. Original AI opinions remain visible; select one again at any time. Your final conclusion is yours.

Sales indication$1,950,000AI: $1,950,000 · Worksheet: $1,950,000
Income indication$1,850,000AI: $1,850,000 · Worksheet: $1,850,000
Cost indication$2,050,000AI: $2,050,000 · Worksheet: $2,050,000

AI suggested weights: 55% Sales · 25% Income · 20% Cost. Sales receives 55% because this is most likely an owner-user purchase and the active offering provides direct market evidence. Income receives 25% because rental and lease information is estimated rather than verified. Cost receives 20% as a useful reasonableness check, but depreciation, land value and construction specifications are uncertain.

Total approach weight
100%
Your weighted approach valueEach approach indication × its weight, added together.
$1,945,000
Your value conclusion ($)Starts with the AI opinion. Use your worksheet calculation or enter your own conclusion when ready.