Two-Tenant Medical Office
For Sale
$1,695,000
820 N Zang Boulevard, Dallas, TX 75208
CommercialSale, Dallas, TX
Property Size4,182 SF
Lot Size0.32 Acres
Price / SF$405.31
Days on Market66
Property Features for 820 N Zang Boulevard
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Commercial / office / medical office / retail
Parking features
Assigned, Open
Subdivision
North Zang Dev
Directions
GPS : 820 N Zang Blvd , Dallas , Tx 75208
Standard status
Active
APN
003372000F02A0000
Lot size
0.32 Acres
Taxes and HOA fees
Tax Description
NORTH ZANG OFFICE PARK BLK F/3372 LT 2A ACS 0
Tax Annual Amount
20040
Legal Description
NORTH ZANG OFFICE PARK BLK F/3372 LT 2A ACS 0
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Water source
Public
Amenities
monument signage
flexible floor plans
Building Details
Year built
2003
Floors in Building
1
Number of units
2
Flooring type
Tile, Vinyl, Laminate
Building materials
Brick, Rock, Stone, WoodSiding
Roof type
Composition
Listing Agency:
Sonya Realty, LLC
(972) 948-9200
Listed By:
Sonya Rafie · License #0330549
(678) 477-8995
Added: Jul 11
Changed: Sep 12
Last Checked: Sep 14 at 1:06AM
MLS# 21294829
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.
Standalone office building completed in 2003 with two separate suites totaling approximately 4,182 SF. Suite 110 contains 2,396 SF and is leased to a dental practice, while Suite 120 offers 1,785 SF for medical or retail use. The property includes monument signage, assigned and open parking, public water and sewer, electric central heating, electric central air, and a composition roof. Interior finishes include vinyl, laminate, and tile flooring.
Located on N Zang Boulevard in Dallas, the property is near the Bishop Arts District and Methodist Medical Center. Access is available to I-35E and I-30, and the Dallas Streetcar is within walking distance. The parcel measures 0.32 acres.
Located on N Zang Boulevard in Dallas, the property is near the Bishop Arts District and Methodist Medical Center. Access is available to I-35E and I-30, and the Dallas Streetcar is within walking distance. The parcel measures 0.32 acres.
Key Highlights
- Two‑suite office building with approximately 4,182 SF
- Suite 110 measures 2,396 SF and is leased to a dental practice
- Suite 120 provides 1,785 SF for medical or retail use
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$54,199
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.20%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,083,980
$1.1M
Cap Rate 7%
$774,271
$774.3K
Cap Rate 9%
$602,211
$602.2K
Market Conditions
NOI Build-Up for 4,182 SF
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.
Gross rent
$100.4K $24.00/SF
− Vacancy
−$10.0K −$2.40/SF
EGI
$90.3K $21.60/SF
− OpEx
−$36.1K −$8.64/SF
NOI
$54.2K $12.96/SF
Area
Dallas, TX
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,083,980
Cap Rate 7%
$774,271
Cap Rate 9%
$602,211
Alternative Uses
Best Use
Office B
$3.43M
$3.01M – $4.01M
NOI $240,429 @ 7.0% cap · market cap 14.18%
Second Best
Healthcare Medical
$774.3K
$677.5K – $903.3K
NOI $54,199 @ 7.0% cap · market cap 3.20%
Theoretical Best
Office A
$5.02M
$4.39M – $5.85M
NOI $351,264 @ 7.0% cap · market cap 20.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,119
Businesses Nearby
Explore this area
Business Placement
Demographics for 75208, TX
29,446
Population
13,655
Households
2.2
Avg Household Size
36
Median Age
41%
College-Educated
76%
High-School Grad
6.1 sq mi
ZIP Area
4,827
Density / Sq Mi
$76,502
Median Household Income
$48,460
Median Earnings
$1,589
Median Rent
$415,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Dallas, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Standalone office property with two suites, monument signage, assigned and open parking, and flexible medical or retail use potential.
Where is this office building located?
The property is located at 820 N Zang Boulevard 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‑suite office building with approximately 4,182 SF; Suite 110 measures 2,396 SF and is leased to a dental practice; Suite 120 provides 1,785 SF for medical or retail use
