3710-3712 Commerce St - Storefront Retail/Office FOR SALE


Dallas, TX 75226
$4,889,000 USD
214-960-2887
3710-3712 Commerce St, Dallas, TX for Sale
$4,889,000 USD
Storefront Retail/Office - FOR SALE
1/7
null | 6% Cap Rate

3710-3712 Commerce St
Dallas, TX 75226


HIGHLIGHTS

  • Urban Infill Opportunity Zone Asset with Santa Fe Trail Adjacency within Deep Ellum in Dallas, TX
  • 900+ New Apartment Units Built or Under Development within Walking Distance (Comprised of Four (4) Apartment Assets, Including Podium Construction)
  • At or Below Market Rent of $27.02 PSF NNN
  • Comparable Creative Space in Deep Ellum Demonstrating Rents of $36.00 - $42.00 PSF NNN
  • Favorable Positioning within Opportunity Zone
  • Estimated One Million Dollars+ of Renovations to the Property in 2018 Provide Strong Residual Value for Future Retail Use

OVERVIEW

The Glo Building in Deep Ellum is a 10,859 SF multi tenant infill asset and opportunity located adjacent to the Santa Fe Trail with favorable positioning within an opportunity zone inside of Deep Ellum entertainment and office district in Dallas, Texas. Benefitting from a Commerce Street address, the Property has walkable experience yet with significant gated parking, and just minutes from Downtown Dallas. The Glo Building in Deep Ellum is currently 100% leased with rents averaging $27.02 PSF NNN, which are at or below market. Comparable caliber space located moments from the property are demonstrating rents of $36.00 - $42.00 PSF NNN. Renovated in 2018, the Property received significant interior and exterior improvements with costs in excess of one million dollars. The Glo Building in Deep Ellum benefits from an enclosed on-site parking lot, masonry construction, original branded pylon sign, storefront glass along front of property, brand new mural on west wall and an average base lease term expiration of October 2027. The Property is located within the dense submarket of East Dallas with a total population exceeding 373,100 in a five-mile radius.

FOR SALE DETAILS

PRICE

$4,889,000 USD

PRICE/SF

$450 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Glo Building in Deep Ellum

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

ADD'L SUBTYPES

Storefront, Loft/Creative Space

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1951

SPRINKLERS

-

PARKING SPACES

28

LAND DETAILS

LAND ACRES

0.46 AC

LAND SF

20,200 SF

ZONING

PD

APN/PARCEL ID

00000128314000000

ASK ABOUT THIS PROPERTY

Tommy TuckerSHOP CompaniesMore Info
214-960-2887

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Tommy TuckerSHOP CompaniesMore Info
214-960-2887

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