Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Development Opportunity Near Henderson Avenue Title is generated by Realmo AI

    1869 Summit Ave, Dallas, TX

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Land for development near Henderson and Greenville area.

    Type:LAND
    Lot size:
    0.12 Acres
    Added:
    Apr 10, 2024
    Days on Market:
    786
    Last Refresh:
    May 20 at 9:14 pm

    Property Features for 1869 Summit Ave

    General Information

    Standard status
    Active
    Lot size
    0.12 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    Ben A. Billings

    Listing agent Ben A. Billings

    Listing office Perry Guest Company

    Listing date Apr 10, 2024

    Source Moodyscre

    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 Perry Guest Company

    HighLights

    • Prime location between Knox Henderson and Lower Greenville.
    • Development opportunity with MF2 zoning.
    • Corner lot: 50' wide x 100' deep.
    • Surrounded by new development.
    • Walking distance to bars and restaurants on Henderson Ave and Lower Greenville.
    • Options to build townhomes, condos, or apartments.

    Overview

    Located between the Knox Henderson and Lower Greenville area, this property presents a development opportunity. The corner lot measures 50 feet wide and 100 feet deep and is zoned MF2. It is surrounded by new development. The location is within walking distance of bars and restaurants on Henderson Avenue and Lower Greenville. There is currently a structure on the property, but the value is in the land. The property is suitable for building townhomes, condos, or apartments.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Dallas
    County
    Collin
    State
    Texas
    Longitude
    -96.811
    Latitude
    32.8122

    Nearby Similar for Sale

    • $1,400,000
      4,447 SF

      Commercial Property with Yard Access

      Fenced, controlled-access site with office and workshop space, positioned for strong visibility and easy highway access.
      12540 C F Hawn Freeway, Dallas, TX 75253
      View Details
    • $750,000
      5,974 SF

      High-Traffic Convenience Retail Store

      For sale retail convenience store opportunity in a high-traffic area, with multiple included addresses and combined structures.
      3415 S Malcolm X Boulevard, Dallas, TX 75215
      View Details
    • $3,700,000
      5,000 SF

      Two-Story Live-Work Office Building

      Modern two-story building with two entrances and gated parking, ideal for office use or live-work arrangements.
      446 S Tyler Street, Dallas, TX 75208
      View Details
    • $699,000
      22,500 SF

      Former Church Redevelopment Facility

      Spacious former church building on a corner lot, offering multiple classrooms and a commercial kitchen for adaptive reuse.
      4759 Sunnyvale Street, Dallas, TX 75216
      View Details
    • $1,278,000
      5,140 SF

      Multifamily Investment Property

      For sale multifamily asset in Dallas with a compact lot and total building area suited to income-focused ownership.
      2432/2434 Douglas Avenue, Dallas, TX 75219
      View Details
    • $2,900,000
      15,286 SF

      Church Campus with Fellowship Facilities

      Move-in ready church campus with sanctuary seating, dining hall, commercial kitchen, and classroom space.
      8568 Stults Road, Dallas, TX 75243
      View Details
    • $950,000

      Mixed-Use Commercial Property with Two Units

      Two income-producing units, including a commissary kitchen and barbershop, positioned for flexible commercial use near major highways.
      9738 Brockbank Drive, Dallas, TX 75220
      View Details
    • $995,000
      2,225 SF

      Medical Office Condo with Highway Frontage

      First unit on the right with windows facing Northwest Highway, offering flexible medical, office, or retail use in a condo setting.
      6211 W Northwest Highway, Dallas, TX 75225
      View Details
    • $650,000

      Freestanding Medical Office Building

      Free-standing dental office with strong visibility, parking, and office/medical zoning for flexible healthcare or office uses.
      2823 Kendale Drive, Dallas, TX 75220
      View Details
    • $700,000

      Flex Space with Grade-Level Roll-Up

      Office-ready flex setup with a high-clear warehouse and a grade-level roll-up door for storage and operations.
      11127 Shady Trail, Dallas, TX 75229
      View Details
    • $725,000
      3,216 SF

      Move-In Ready Duplex with Two Units

      Two sizable duplex units provide flexible living or rental income with recent updates and private outdoor space.
      6241 Rincon Way, Dallas, TX 75214
      View Details
    • $4,900,000

      Live-Work Creative Studio Building

      Versatile creative production space with editing suites, private offices, and a 3-sided cyclorama wall plus private living quarters.
      2909 San Jacinto, Dallas, TX 75204
      View Details

    FAQs

    What type of property is this?
    Land - Land for development near Henderson and Greenville area.
    Where is this land located?
    The property is located at 1869 Summit Ave Dallas, TX.
    What is the asking price?
    The asking price for this property is $475,000.
    What are key features of this property?
    This property features: Prime location between Knox Henderson and Lower Greenville.; Development opportunity with MF2 zoning.; Corner lot: **50' wide x 100' deep.**
    (925) 872-1875 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Ben A. Billings
    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
    1869 Summit Ave, Dallas, TX
    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!