Two-Story Office Building with
1111 Lagoon Drive Dallas, TX 75207
1111 Lagoon Drive, Dallas, TX, 75207
$1,695,000
For Sale
$1,695,000
SINGLE_FAMILY - Dallas, TX
Property Size3,890 SF
Lot Size0.21 Acres
Price / SF$435.73
Days on Market11
Property Features for 1111 Lagoon Drive
General Information
- Property type
- Residential
- Property subtype
- Office
- Parking features
- Parking Lot
- Security features
- Security
- Standard status
- Active
- APN
- 008570001104A0100
- Lot size
- 0.21 Acres
Taxes and HOA fees
- Tax Description
- 1111 LAGOON BLK 11/8570 LT 4A.1 ACS 0.2143
- Tax Annual Amount
- 14869
Utilities
- Sewer type
- Public Sewer
- Heating system
- Central
- Cooling system
- Electric
- Water source
- Public
- Water front features
- Creek
- Water front
- 1
Building Details
- Year built
- 1961
- Floors in Building
- 2
- Number of units
- 1
- Flooring type
- Wood, Carpet
- Building materials
- Brick
- Roof type
- Composition
Listing Agency
TXRE Properties
(214) 534-1599
Irving, TX
Listed by
Kolby Dickerson · License #0617243
(214) 534-1599
Added: Jul 8 Checked: Jul 18 at 4:06 am
MLS# 21177269
Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This standalone two-story office building totals 3,890 SF and sits on an 11,969 SF lot. The layout includes office space with a loft apartment upstairs, offering a work-and-live configuration within the same building. The property also provides ample on-site parking and dual street access.
The building is described as being in the Medical and Design District, with terrace potential overlooking the Trinity Strand Trail.
For buyers seeking a centrally located office arrangement with an upstairs residential component, this property presents a flexible, self-contained option built around its two-story configuration, parking, and access.
The building is described as being in the Medical and Design District, with terrace potential overlooking the Trinity Strand Trail.
For buyers seeking a centrally located office arrangement with an upstairs residential component, this property presents a flexible, self-contained option built around its two-story configuration, parking, and access.
Key Highlights
- Two‑story 3,890 SF standalone office building built in 1961
- 11,969 SF lot with parking lot on‑site and dual street access
- Includes a loft apartment upstairs for live/work use
Local Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $93.4k | $24.00 |
| − Vacancy | −$11.2k | −$2.88 |
| EGI | $82.2k | $21.12 |
| − OpEx | −$30.8k | −$7.92 |
| NOI | $51.3k | $13.20 |
3,890 SF · lease $24.00/SF/yr · vacancy 12.00% · expense 37.50%
Alternative Uses
Best Use
Office B
$3.19M
$2.80M – $3.73M
NOI $223,641 @ 7.0% cap · market cap 13.19%
Second Best
Mixed Use
$733.5K
$641.9K – $855.8K
NOI $51,348 @ 7.0% cap · market cap 3.03%
Theoretical Best
Office A
$4.67M
$4.08M – $5.45M
NOI $326,738 @ 7.0% cap · market cap 19.28%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Nick Dean | Architect
Architecture Firm
Ron Wommack Architect
Architect
Cadwallader Design
Interior Design
Similar For Sale Nearby
FAQs
What type of property is this?
Live-work space - Standalone two-story office building with on-site parking, dual street access, and a loft apartment upstairs.
Where is this live-work space located?
The property is located at 1111 Lagoon Drive Dallas, TX.
What is the asking price?
The asking price for this property is $1,695,000.
What are key features of this property?
This property features: Two‑story 3,890 SF standalone office building built in 1961; 11,969 SF lot with parking lot on‑site and dual street access; Includes a loft apartment upstairs for live/work use
