Industrial Flex Building with
For Sale
$1,799,000
11421 Chairman Drive, Dallas, TX 75243
CommercialSale, Dallas, TX
Property Size7,472 SF
Lot Size0.34 Acres
Price / SF$240.77
Days on Market48
Property Features for 11421 Chairman Drive
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
BLK C/8061 LT 3 ACS 0.73-265X120
Parking features
Parking Lot, Garage, Alley, Carport
Subdivision
GARVON
Lot features
Cleared, Interior Lot
Directions
Please use GPS for accurate directions.
Standard status
Active
APN
00000787037780000
Lot size
0.34 Acres
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Amenities
private offices
conference room
kitchen
restrooms
Building Details
Year built
1977
Floors in Building
1
Number of units
1
Flooring type
Concrete, Vinyl, Tile
Building materials
Brick, MetalSiding, Concrete
Roof type
Built-Up, Flat
Listing Agency:
Citiwide Properties Corp.
(972) 805-4399
Listed By:
Don Ton
(972) 808-9988
Added: Jul 22
Changed: Sep 4
Last Checked: Sep 7 at 12:06PM
MLS# 21302347
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.
This industrial flex property at 11421 Chairman Drive includes 7,472 SF of building area, with approximately 2,164 SF configured for offices and 5,650 SF allocated to warehouse use. The interior includes private offices, a conference room, kitchen, restrooms, and 24-foot clear height. Two grade-level overhead doors support warehouse access, while central heating and central air serve the building. Brick, metal siding, and concrete are among the construction materials, with vinyl, tile, and concrete flooring.
The property also provides 15,000+ SF of fenced outdoor storage, along with parking features that include a parking lot, garage, carport, and alley access. Built in 1977, the building has a flat, built-up roof and public sewer service. Its Dallas location offers access to I-635, US-75, and the Dallas North Tollway.
The property also provides 15,000+ SF of fenced outdoor storage, along with parking features that include a parking lot, garage, carport, and alley access. Built in 1977, the building has a flat, built-up roof and public sewer service. Its Dallas location offers access to I-635, US-75, and the Dallas North Tollway.
Key Highlights
- 7,472 SF industrial flex building with approximately 2,164 SF of office and 5,650 SF of warehouse space
- 24' clear height and two grade‑level overhead doors
- 15,000+ SF of fenced outdoor storage
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
$78,680
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
4.37%
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%
$1,573,600
$1.6M
Cap Rate 7%
$1,124,000
$1.1M
Cap Rate 9%
$874,222
$874.2K
Market Conditions
NOI Build-Up for 7,472 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
$134.5K $18.00/SF
− Vacancy
−$13.4K −$1.80/SF
EGI
$121.0K $16.20/SF
− OpEx
−$42.4K −$5.67/SF
NOI
$78.7K $10.53/SF
Area
ZIP 75243
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
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%
$1,573,600
Cap Rate 7%
$1,124,000
Cap Rate 9%
$874,222
Alternative Uses
Best Use
Office B
$6.13M
$5.36M – $7.15M
NOI $429,072 @ 7.0% cap · market cap 23.85%
Second Best
Flex RnD
$1.12M
$983.5K – $1.31M
NOI $78,680 @ 7.0% cap · market cap 4.37%
Theoretical Best
Office A
$8.18M
$7.16M – $9.54M
NOI $572,498 @ 7.0% cap · market cap 31.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
24 ft
Clear height
2
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,632
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75243, TX
62,273
Population
31,577
Households
2
Avg Household Size
34
Median Age
34%
College-Educated
86%
High-School Grad
9.2 sq mi
ZIP Area
6,769
Density / Sq Mi
$50,357
Median Household Income
$33,760
Median Earnings
$1,226
Median Rent
$359,100
Median Home Value
Market
Vacancy Rate% for Office in Dallas, TX
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Versatile commercial building combines dedicated office areas, warehouse space, and secured outdoor storage for operational flexibility.
Where is this flex space located?
The property is located at 11421 Chairman Drive Dallas, TX.
What is the asking price?
The asking price for this property is $1,799,000.
What are key features of this property?
This property features: 7,472 SF industrial flex building with approximately 2,164 SF of office and 5,650 SF of warehouse space; 24' clear height and two grade‑level overhead doors; 15,000+ SF of fenced outdoor storage
