Dallas Medical/Design District Office
For Sale
$1,695,000
1111 Lagoon Drive, Dallas, TX 75207
Two-story office building in Dallas' Medical and Design District.
Property Size4,320 SF
Lot Size0.27 Acres
Price / SF$392.36
Days on Market102
Property Features for 1111 Lagoon Drive
General Information
Standard status
Active
Size
4,320 SF
Lot size
0.27 Acres
Property subtype
Commercial
Building Details
Year Built
1961
Listing Agency:
TXRE Properties
(214) 534-1599
Listed By:
Kolby Dickerson · License #0617243
(214) 534-1599
Source:
Signaturere
Added: Apr 22
Changed: Jul 10
Last Checked: Jul 31 at 1:51PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of TXRE Properties
Investment Insights
Based on property information with market context.
This standalone, two-story office building, located in the Medical and Design District of Dallas, offers a versatile space suitable for various business uses. The property has a size of 3,890 SF and sits on a 11,969 SF lot. It features ample on-site parking and dual street access. The building includes a full loft apartment upstairs, offering a live-work opportunity. The property is ideal for a creative agency, professional firm, or boutique showroom. It is also suitable for an owner or user seeking a centrally located, high-visibility space near Uptown, Downtown, and the Dallas Medical District. The property also features terrace potential overlooking the Trinity Strand Trail.
Key Highlights
- Prime location in the heart of Dallas' Medical and Design District, near Uptown, Downtown, and the Dallas Medical District.
- Versatile, standalone 3,890 SF two‑story office building suitable for various uses.
- Generous 11,969 SF lot with ample on‑site parking and dual street access.
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 | $103.7k | $24.00 |
| − Vacancy | −$12.4k | −$2.88 |
| EGI | $91.2k | $21.12 |
| − OpEx | −$34.2k | −$7.92 |
| NOI | $57.0k | $13.20 |
4,320 SF · lease $24.00/SF/yr · vacancy 12.00% · expense 37.50%
Alternative Uses
Best Use
Office B
$3.55M
$3.10M – $4.14M
NOI $248,362 @ 7.0% cap · market cap 14.65%
Second Best
Mixed Use
$814.6K
$712.8K – $950.4K
NOI $57,024 @ 7.0% cap · market cap 3.36%
Theoretical Best
Office A
$5.18M
$4.54M – $6.05M
NOI $362,855 @ 7.0% cap · market cap 21.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,102
Businesses Nearby
Explore this area
Business Placement
Demographics for 75207, TX
7,116
Population
2,465
Households
2.9
Avg Household Size
33
Median Age
30%
College-Educated
81%
High-School Grad
3.9 sq mi
ZIP Area
1,825
Density / Sq Mi
$84,149
Median Household Income
$45,903
Median Earnings
$1,789
Median Rent
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 - Two-story office building in Dallas' Medical and Design District.
Where is this office building 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: Prime location in the heart of Dallas' Medical and Design District, near Uptown, Downtown, and the Dallas Medical District.; Versatile, standalone 3,890 SF two‑story office building suitable for various uses.; Generous 11,969 SF lot with ample on‑site parking and dual street access.
