Two-Story Office Building with Living
For Sale
$5,900,000
1204 Powhattan Street, Dallas, TX 75215
Two-story office building with a first-floor living quarter and frontage on three main streets.
Property Size26,482 SF
Lot Size37,800.00 Acres
Days on Market64
Property Features for 1204 Powhattan Street
General Information
Standard status
Active
Size
26,482 SF
Lot size
37,800.00 Acres
Property subtype
Industrial
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$29,832
Building Details
Building Size
26,482 SF
Year Built
1951
Stories
2
Listing Agency:
Sonya Realty, LLC
(972) 948-9200
Listed By:
Sonya Rafie · License #0330549
Source:
Nilesrealtygroup
Added: Jun 25
Changed: Aug 14
Last Checked: Aug 26 at 1:31PM
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 Sonya Realty, LLC
Investment Insights
Based on property information with market context.
This two-story commercial building is configured to support multiple business operations, with a living quarter on the first floor and many offices on both floors. The structure is described as a concrete cube on each level, providing a solid, purpose-built shell for a range of office uses. The property sits on a lot size of over 37,800 square feet and offers extensive street-facing presence.
The building faces three main streets, with frontage available along each side. It is positioned near several major highways, including I-30, I-35E, and I-45. The listing also notes walkable proximity to the Kay Bailey Hutchison Convention Center, Cedar Dart Station, and the Jack Evans Police Station.
For tenants, buyers, and operators, the mix of office space plus a dedicated first-floor living quarter may fit business owners seeking on-site space while maintaining an office component across both levels. The layout also supports scenarios where more than one team or business could operate within the same property. The offering is presented for sale, with an additional option for leasing noted in the remarks and seller financing available.
The building faces three main streets, with frontage available along each side. It is positioned near several major highways, including I-30, I-35E, and I-45. The listing also notes walkable proximity to the Kay Bailey Hutchison Convention Center, Cedar Dart Station, and the Jack Evans Police Station.
For tenants, buyers, and operators, the mix of office space plus a dedicated first-floor living quarter may fit business owners seeking on-site space while maintaining an office component across both levels. The layout also supports scenarios where more than one team or business could operate within the same property. The offering is presented for sale, with an additional option for leasing noted in the remarks and seller financing available.
Key Highlights
- Two‑story commercial office building (built 1951) with first‑floor living quarter and offices on both floors
- Lot size over 37,800 SF with frontage on 3 main streets: 1209 Belleview St, 1306 Wall St, and 1204 Powhattan St
- Building footprint described as a concrete cube on both the first and second floors
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
$349,562
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
5.92%
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%
$6,991,240
$7.0M
Cap Rate 7%
$4,993,743
$5.0M
Cap Rate 9%
$3,884,022
$3.9M
Market Conditions
NOI Build-Up for 26,482 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
$635.6K $24.00/SF
− Vacancy
−$76.3K −$2.88/SF
EGI
$559.3K $21.12/SF
− OpEx
−$209.7K −$7.92/SF
NOI
$349.6K $13.20/SF
Area
Dallas, TX
Vacancy
12.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$6,991,240
Cap Rate 7%
$4,993,743
Cap Rate 9%
$3,884,022
Alternative Uses
Best Use
Office B
$21.75M
$19.03M – $25.37M
NOI $1,522,484 @ 7.0% cap · market cap 25.80%
Second Best
Mixed Use
$4.99M
$4.37M – $5.83M
NOI $349,562 @ 7.0% cap · market cap 5.92%
Theoretical Best
Office A
$31.78M
$27.80M – $37.07M
NOI $2,224,335 @ 7.0% cap · market cap 37.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,798
Businesses Nearby
Explore this area
Business Placement
Demographics for 75215, TX
18,806
Population
8,481
Households
2.2
Avg Household Size
37
Median Age
17%
College-Educated
73%
High-School Grad
7.7 sq mi
ZIP Area
2,442
Density / Sq Mi
$41,388
Median Household Income
$34,114
Median Earnings
$1,209
Median Rent
$137,700
Median Home Value
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 units - Two-story office building with a first-floor living quarter and frontage on three main streets.
Where is this office units located?
The property is located at 1204 Powhattan Street Dallas, TX.
What is the asking price?
The asking price for this property is $5,900,000.
What are key features of this property?
This property features: Two‑story commercial office building (built 1951) with first‑floor living quarter and offices on both floors; Lot size over 37,800 SF with frontage on 3 main streets: 1209 Belleview St, 1306 Wall St, and 1204 Powhattan St; Building footprint described as a concrete cube on both the first and second floors
