Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    East Dallas Townhome Community Title is generated by Realmo AI

    4223 Delano Place, Dallas, TX 75204

    View on Map
    Claim this Listing
    For Sale
    $2,495,000

    Business - Dallas, TX

    Type:Business
    Lot size:
    0.16 Acres
    Added:
    Apr 2, 2026
    Days on Market:
    50
    Last Refresh:
    May 21 at 1:06 pm

    Property Features for 4223 Delano Place

    General Information

    Property type
    Commercial Sale
    Property subtype
    Business
    Parking features
    Driveway, Garage
    Standard status
    Active
    APN
    00000118882000000
    Lot size
    0.16 Acres

    Utilities

    Heating system
    Central, Natural Gas
    Cooling system
    Ceiling Fan(s), Central Air, Electric

    Building Details

    Year built
    2021
    Flooring type
    Carpet, Tile, Wood
    Building materials
    Fiber Cement
    Roof type
    Flat
    Architectural style
    Other

    We can help!

    Listing Contact
    Alan Sahliyeh

    Listing agent Alan Sahliyeh License #0619808

    Listing office Compass RE Texas, LLC. 5960 Berkshire Lane #700, Dallas, TX

    Listing date Apr 2, 2026

    MLS# 21217514 Listing URL

    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

    • Fully leased, recently constructed (2021) 5‑unit townhome community in desirable East Dallas.
    • Strong in‑place cash flow with potential for future upside due to under‑market rental rates.
    • Private rooftop decks with turf and Dallas skyline views.
    • No HOA currently in place, presenting a value‑add opportunity to create one and sell units individually.
    • Located in a highly walkable area, close to popular dining, retail, and entertainment.
    • Unit 5 is currently operating as a short‑term rental, providing additional income flexibility.

    Overview

    This is a recently constructed 5-unit condominium platted townhome community located in East Dallas. Constructed in 2021, the property is fully leased and offers potential for future upside. The property features four 2-bedroom, 2.1-bathroom townhomes and one 1-bedroom, 1.5-bath unit. Each unit is designed with open-concept living spaces and granite finishes. Private rooftop decks with turf offer views of the Dallas skyline. The bedrooms are located on the third floor. The property is located in a walkable area of East Dallas, near dining, retail, and entertainment destinations. Unit 5 is currently operating as a short-term rental. The property is situated on a lot of 0.155 acres. There is currently no HOA in place, presenting a value-add opportunity. The highest and best use for the property may be the creation of an HOA to facilitate the sale of individual units. This allows a buyer to capitalize on immediate equity and multiple exit strategies, including selling units individually, occupying one unit while leasing the others, or holding the property as a long-term investment.
    Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Suggested Use

    Restaurant Law Firm Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Dallas
    County
    Collin
    State
    Texas
    Longitude
    -96.784942
    Latitude
    32.802886

    Nearby Similar for Sale

    • $750,000
      5,974 SF

      Retail Property in High Traffic Area

      Retail property in Dallas, TX with high traffic location.
      3415 S Malcolm X Boulevard, Dallas, TX 75215
      View Details
    • $345,000
      3,840 SF

      Commercial Building with Catering Kitchen

      3,840 SF commercial building with catering kitchen in Dallas.
      10118 Rylie Road, Dallas, TX 75217
      View Details
    • $899,000

      Renovated Commercial Space in Dallas

      Renovated 2230 sqft commercial space in the heart of Dallas.
      1380 River Bend Drive, Dallas, TX 75247
      View Details
    • $485,000

      Dallas Auto Shop and Repair

      Auto shop and repair facility with potential for commercial ventures.
      8632 San Marino Avenue, Dallas, TX 75217
      View Details
    • $599,000
      2,500 SF

      Dallas Church on Large Lot

      Church with ample parking and room to grow.
      1338 Hortense Avenue, Dallas, TX 75216
      View Details
    • $298,800
      4,200 SF

      Auto Repair Shop Lot

      Auto repair shop lot for sale near 635 and I-20.
      14124 Seagoville Road, Dallas, TX 75253
      View Details
    • $949,000

      Freestanding Office Building on Acre Lot

      6930 sq ft office building on 1 acre lot.
      4373 S Hampton Road, Dallas, TX 75232
      View Details
    • $500,000

      Versatile Commercial Property with Income

      Commercial property with rental income and flexible business space.
      1931 S Belt Line Road, Dallas, TX 75253
      View Details
    • $1,400,000
      4,447 SF

      Commercial Property with Highway Frontage

      1.36-acre commercial property with office, workshop, and storage space.
      12540 C F Hawn Freeway, Dallas, TX 75253
      View Details
    • $950,000

      Commercial Property Near Harry Hines

      Versatile property near major highways with immediate income potential.
      9738 Brockbank Drive, Dallas, TX 75220
      View Details
    • $1,900,000
      2,910 SF

      Historic Victorian in Uptown Dallas

      Victorian home in historic State Thomas neighborhood, zoned for commercial/residential.
      2315 Routh Street, Dallas, TX 75201
      View Details
    • $700,000

      Versatile Commercial Space in Dallas

      Office and warehouse space in prime Northwest Dallas location.
      11127 Shady Trail, Dallas, TX 75229
      View Details

    FAQs

    What type of property is this?
    Apartment building - Recently constructed, fully leased 5-unit townhome community in East Dallas.
    Where is this apartment building located?
    The property is located at 4223 Delano Place Dallas, TX.
    What is the asking price?
    The asking price for this property is $2,495,000.
    What are key features of this property?
    This property features: Fully leased, recently constructed (2021) 5‑unit townhome community in desirable East Dallas.; Strong in‑place cash flow with potential for future upside due to under‑market rental rates.; Private rooftop decks with turf and Dallas skyline views.
    (214) 814-8100
    We can help!
    Listing Contact
    Alan Sahliyeh
    Real Estate License ID: 0619808
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    4223 Delano Place, Dallas, TX 75204
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!