• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

On-call Rapid Transit Access Value In Dfw?

Status
Not open for further replies.

techbiker

Sophomore Member
Joined
Dec 4, 2015
Professional Status
General Public
State
Texas
With your help, my family purchased a small but unique freestanding office building in Plano, TX earlier this year.

We plan to offer premium executive (or serviced) office rentals in a portion of our interior space. My father will utilize the other portion for his high tech orthopedic practice. As marketing and renovation efforts began ramping up in earnest, we discovered that our property is in an exclusive "DART On-Call" access zone.

DART On-Call appears to operate much like a private shuttle, except that the On-Call shuttles service a small area (just a few blocks around our office). The shuttles are new and support bike racks. They also stop at a DART train station in Plano with train service to Historic Plano, Richardson (including Cityline), Dallas, etc. Before long there will be service to DFW international airport. Anyone can pay $2.50 for a ride anywhere in the On-Call service zone during operating hours (5am to 8pm).

Few offices in Plano receive great bus service, let alone DART "On-Call" access. This includes many of the brand new offices near the "Legacy West" development in west Plano.

To the best of my knowledge, our appraiser assumed we did not have public transit access. I've read numerous articles touting increased demand for offices with public transit access (http://www.lowellsun.com/breakingne...s-place-high-value-public-transit-access-poll). My friends (mostly millennials) value public transit services. How much, if any do you think this will boost the value of our real estate? I am trying to determine where to place this feature in our marketing materials.

Thank you as always!
 
Last edited:

Restrain

Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
Unless someone actually wants to use the benefit, it would be of no value. DFW 'rapid transit' doesn't seem to add value. For example, I have seen office buildings in proximity to the Denton train station that really don't show a benefit to being in proximity. Rather, they benefit more to good road access, proximity to related major facilities (medical for example).

Note-appraised for 30 years in DFW.
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks