Architectural Urban Compound with Office-Zoned
3502 Gillespie Street, Dallas, TX 75219
SINGLE_FAMILY - Dallas, TX
Type:Office
Property size:
16,000 SFLot size:
0.90 AcresPrice / SF:
$812/SF- Added:
- May 19, 2026
- Days on Market:
- 31
- Last Refresh:
- Jun 18 at 11:06 am
Property Features for 3502 Gillespie Street
General Information
- Property type
- Residential
- Property subtype
- Office
- Parking features
- Driveway, Parking Lot
- Fireplace
- 1
- Standard status
- Active Under Contract
- APN
- 00000138844000000
- Lot size
- 0.90 Acres
Taxes and HOA fees
- Tax Description
- J H WEBSTER BLK 1030 PT LTS 10 & 11 ACS 0.166
- Tax Annual Amount
- 32073
Utilities
- Sewer type
- Public Sewer
- Heating system
- Central, Fireplace(s)
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1919
- Floors in Building
- 2
- Number of units
- 1
- Flooring type
- Tile, Wood
- Building materials
- Brick
- Roof type
- Composition
Listing agent Julie Smith License #0697281 (972) 372-0590
Listing office United Real Estate Dallas, TX (972) 372-0590
Listing date May 19, 2026
MLS# 21025672
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.
HighLights
- One‑acre urban compound with a 12,000 SF contemporary residence, a 4,000 SF historic home, and nearly half an acre of park‑like grounds
- 12,000 SF contemporary home by Bernbaum Magadini Architects, with skyline views and custom glass mosaics by an Italian artisan
- Full‑sized elevator connects all three levels, including a ground‑floor mother‑in‑law suite with a private kitchen and laundry
- Subterranean level features a 5‑car underground garage, gym, endless pool and water treadmill, wet sauna, private spa, movie theater, and golf simulator
- Historic 4,000 SF home is zoned for commercial office use
- Home systems include central heat and central air, brick construction, tile and wood flooring, composition roof, and fireplaces
Overview
An exceptional architectural portfolio on a one-acre urban compound, combining contemporary design with historic charm and a high level of in-house versatility. The offering includes a striking 12,000-square-foot contemporary residence by Bernbaum Magadini Architects, along with a 4,000-square-foot historic home zoned for commercial office use. Nearly half an acre of park-like grounds adds a private setting within the property.
The modern residence features clean, contemporary lines and elevated skyline views, with custom Italian-crafted glass mosaics integrated throughout. A full-sized elevator connects all three levels, including a ground-floor mother-in-law suite with private kitchen and laundry. Beneath the main level, a subterranean area includes a 5-car underground garage, a gym with an endless pool and water treadmill, a wet sauna, private spa, movie theater, and golf simulator. Smart-home systems include Lutron lighting and a Crestron AV setup, while the top floor provides an outdoor lounge with grill and full kitchen.
Located at 3502 Gillespie Street in Dallas, the mix of a contemporary showpiece, a dedicated office-zoned residence, and extensive amenities creates a rare fit for buyers seeking a private compound with the option to support professional office use within the same ownership. The design-forward layout and connected levels are well-suited to owners who want both seclusion and functional adaptability.
The modern residence features clean, contemporary lines and elevated skyline views, with custom Italian-crafted glass mosaics integrated throughout. A full-sized elevator connects all three levels, including a ground-floor mother-in-law suite with private kitchen and laundry. Beneath the main level, a subterranean area includes a 5-car underground garage, a gym with an endless pool and water treadmill, a wet sauna, private spa, movie theater, and golf simulator. Smart-home systems include Lutron lighting and a Crestron AV setup, while the top floor provides an outdoor lounge with grill and full kitchen.
Located at 3502 Gillespie Street in Dallas, the mix of a contemporary showpiece, a dedicated office-zoned residence, and extensive amenities creates a rare fit for buyers seeking a private compound with the option to support professional office use within the same ownership. The design-forward layout and connected levels are well-suited to owners who want both seclusion and functional adaptability.
Local Financial Insights For Office B
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 | $1.64M | $102.48 |
| − Vacancy | −$413.2k | −$25.82 |
| EGI | $1.23M | $76.66 |
| − OpEx | −$306.6k | −$19.16 |
| NOI | $919.9k | $57.49 |
16,000 SF · lease $102.48/SF/yr · vacancy 25.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$13.14M
$11.50M – $15.33M
NOI $919,860 @ 7.0% cap · market cap 7.08%
Second Best
Apartment 5plus
$3.48M
$3.04M – $4.05M
NOI $243,296 @ 7.0% cap · market cap 1.87%
Theoretical Best
Office A
$19.20M
$16.80M – $22.40M
NOI $1,343,908 @ 7.0% cap · market cap 10.34%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Single family properties
Location Insight
- Map
- Local Demand
- City
- Dallas
- County
- Collin
- State
- Texas
- Longitude
- -96.807595
- Latitude
- 32.805433
Nearby Similar for Sale
FAQs
What type of property is this?
Single family property - Two residences plus an office-zoned historic home on private grounds offer flexible living or business use.
Where is this single family property located?
The property is located at 3502 Gillespie Street Dallas, TX.
What is the asking price?
The asking price for this property is $13,000,000.
What are key features of this property?
This property features: One‑acre urban compound with a 12,000 SF contemporary residence, a 4,000 SF historic home, and nearly half an acre of park‑like grounds; 12,000 SF contemporary home by Bernbaum Magadini Architects, with skyline views and custom glass mosaics by an Italian artisan; Full‑sized elevator connects all three levels, including a ground‑floor mother‑in‑law suite with a private kitchen and laundry
