Building Details

Year Built 2003

Buildings 2

Listing Agency: Morgan Realty Group

Listed By: ERIC MORGAN · License #9002258

Source: Crexi

Added: Sep 2 Changed: Oct 1 Last Checked: Oct 20 at 8:15PM

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Investment Insights

Based on property information with market context.

This light industrial flex property includes two buildings totaling approximately 11,608 SF, with about 4,608 SF of office space and 7,000 SF of warehouse area. Built in 2003, the improvements offer 16'–18' clear heights and five grade-level doors, including two measuring approximately 12' x 12' and three measuring approximately 20' x 18'.

The property occupies approximately 0.97 acres at 11031 Grissom Lane in Dallas, Texas. Its lot is fully paved, fenced, and secured. Regional access is provided through nearby I-635, I-35, and Harry Hines Boulevard, supporting connections throughout the Dallas–Fort Worth Metroplex.

Key Highlights

• Approximately 11,608 SF across two buildings
• Approximately 4,608 SF of office space and 7,000 SF of warehouse space
• 16'–18' clear heights

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$101,860

Cap Rate

4.53%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,037,200 $2.0M

Cap Rate 7%

$1,455,143 $1.5M

Cap Rate 9%

$1,131,778 $1.1M

Is this asking price fair?

Market Conditions

NOI Build-Up for 11,608 SF

Gross rent

$174.1K $15.00/SF

− Vacancy

−$17.4K −$1.50/SF

EGI

$156.7K $13.50/SF

− OpEx

−$54.8K −$4.73/SF

NOI

$101.9K $8.78/SF

Area

Dallas, TX

Vacancy

10.00%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,037,200

Cap Rate 7%

$1,455,143

Cap Rate 9%

$1,131,778

Alternative Uses

Best Use

Office B

$9.53M

$8.34M – $11.12M (±1% cap)

NOI $667,359 @ 7.0% cap · market cap 29.66%

Second Best

Flex RnD

$1.46M

$1.27M – $1.70M (±1% cap)

NOI $101,860 @ 7.0% cap · market cap 4.53%

Theoretical Best

Office A

$13.93M

$12.19M – $16.25M (±1% cap)

NOI $975,005 @ 7.0% cap · market cap 43.33%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Promise Total Services, ... General Contractor

Suggested Use

Top Pick Pharmacy Daycare Center Parking Lot & Garage Veterinary Clinic Garden Center Pet Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

18 ft

Clear height

5

Drive-in doors

Yes

Fenced yard

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

1,911

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 75229, TX

33,168

Population

12,542

Households

2.6

Avg Household Size

37

Median Age

50%

College-Educated

81%

High-School Grad

12.4 sq mi

ZIP Area

2,675

Density / Sq Mi

$121,381

Median Household Income

$52,169

Median Earnings

$1,522

Median Rent

$598,500

Median Home Value

Market

Vacancy Rate% for Office in Dallas, TX

19.2% 2019

21.1% 2020

21.5% 2021

21.6% 2022

22% 2023

26.2% 2024

25.9% 2025

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Similar Off Market Nearby

• Totally Dvine — 11311 Harry Hines Blvd, Dallas, TX 75229, United States
• 9 Rabbits Bakery — 2546 Royal Ln, Dallas, TX 75229
• A La Carte Catering & Cakes — 2750 Northaven Rd Suite 304, Dallas, TX 75229

Frequently Asked Questions

What type of property is this?

Flex space - Two buildings combine office and warehouse areas within a paved, fenced, secured site.

Where is this flex space located?

The property is located at 11031 Grissom Lane Dallas, TX.

What is the asking price?

The asking price for this property is $2,250,000.

What are key features of this property?

This property features: Approximately 11,608 SF across two buildings; Approximately 4,608 SF of office space and 7,000 SF of warehouse space; 16'–18' clear heights