Elm Street Portfolio FOR SALE


Dallas, TX - Old East Dallas
$6,300,000 USD
214-960-2887
, Dallas, TX for Sale
$6,300,000 USD
FOR SALE
1/1
null | 5.27% Cap Rate

Elm Street Portfolio
Dallas, TX
Old East Dallas


HIGHLIGHTS

  • Positioned just off Main Street totaling +/- 1.67 acres of land, just minutes from Downtown Dallas on Main Street & East Side Avenue.
  • Vacant Suites in 2nd Generation Condition; Most Powerful Would be New Storefront Glass
  • Below Market Net Effective Rent of $11.31 PSF with Activity Nearby Leasing from $24.00 - $30.00 PSF NNN for Recently Renovated Space
  • Priced Below Replacement Cost at $214.63 PSF
  • 29,353 SF Urban Infill Retail Value Add Redevelopment Opportunity with In Place Cash Flow & Santa Fe Trail in Walking Distance
  • Densely Populated Submarket with Over 386,600 People in a 5-Mile Radius

OVERVIEW

Elm Street Portfolio is a 29,353 SF multi building infill value add asset with significant parking located just off the Main Street corridor east of Deep Ellum entertainment and office district in Dallas, Texas. The Property is currently 78.40% leased with net effective rent of $11.31 PSF, which are at or below market for similar assets in the immediate area. Short term tenancy allows for potential of income stream while making renovation plans. Recent leasing activity moments away has demonstrated rents from $24.00 - $29.50 PSF NNN for recently renovated spaces. The Property benefits from exceptional parking, masonry construction and potential for storefront glass conversion along Peak Street & Elm Street front of Property. The Property is priced significantly below replacement cost at just $214.63 PSF to the building.

ASK ABOUT THIS PROPERTY

Tommy TuckerSHOP CompaniesMore Info
214-960-2887

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Tommy TuckerSHOP CompaniesMore Info
214-960-2887

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.