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    Two-Story Office Building with Living Quarters Title is generated by Realmo AI

    1204 Powhattan Street, Dallas, TX 75215

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    For Lease
    $7 SF/Yr $15,166/Mo (calc)

    COMMERCIAL - Dallas, TX

    Property size:
    26,000 SF
    Lot size:
    0.87 Acres
    Added:
    Apr 9, 2026
    Days on Market:
    57
    Last Refresh:
    Jun 4 at 11:06 pm

    Property Features for 1204 Powhattan Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Parking features
    Garage
    Standard status
    Active
    APN
    00000109687000000
    Lot size
    0.87 Acres

    Taxes and HOA fees

    Tax Description
    WALNUT GROVE BLK E/442 LTS 10,11,13,17,18 & P

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central, Natural Gas
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1951
    Floors in Building
    2
    Number of units
    1
    Flooring type
    Concrete
    Building materials
    Brick, Concrete
    Roof type
    Flat

    We can help!

    Listing Contact
    Sonya Rafie
    Sonya Rafie

    Listing agent Sonya Rafie License #0330549

    Listing office Sonya Realty, LLC Dallas, TX

    Listing date Apr 9, 2026

    MLS# 21121898

    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.

    HighLights

    • 2‑story commercial building built in 1951 with brick and concrete construction and flat roof
    • Lot size over 37,800 SF with frontage on 3 main streets: 1209 Belleview St, 1306 Wall St, and 1204 Powhattan St
    • Rentable space reported as 12,000–26,000 SF with offered rent of $7.00 + NNN
    • Central heating (natural gas) and central air conditioning; flooring includes concrete
    • Public utilities: public water and public sewer
    • Living quarter on the first floor plus offices on both floors; garage parking

    Overview

    Located at 1204 Powhattan Street in Dallas, TX 75215, this two-story commercial office building offers a versatile interior configuration designed to support more than one operating setup. The first floor includes a living quarter, while offices are positioned across both levels, creating a practical mix for administrative use, staff space, or tenant-specific needs. With approximately 12,000 to 26,000 square feet of rentable space available, the building’s scale can accommodate a range of business plans.

    The property sits on a large lot and faces three main streets, providing strong multi-frontage presence across the block. It is also described as close to major Dallas-area highways, the Kay Bailey Hutchison Convention Center, and nearby destinations including Cedar Dart Station and the Jack Evans Police Station, supporting convenient day-to-day access for employees, clients, and visitors.

    For tenants and operators seeking space that can be configured to match different workflows, the building’s multi-office layout and dual-purpose first-floor arrangement stand out. The overall size and multi-street exposure make it a compelling option for organizations looking for flexibility, whether operating as a single location or planning for separate business uses under one roof.
    Property Profile Location Intelligence

    Current Use by Public Records

    Evolution Auto Concepts ... Auto Repair Shop

    Suggested Use

    Real Estate Agency Dental Office Spa & Massage Center Restaurant Hair Salon Nail Salon Building Supply Pharmacy Daycare Center Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Dallas
    County
    Collin
    State
    Texas
    Longitude
    -96.794376
    Latitude
    32.770307

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    FAQs

    What type of property is this?
    Office building - Flexible two-story office setup with first-floor living quarters and potential for multiple businesses on a corner-facing footprint.
    Where is this office building located?
    The property is located at 1204 Powhattan Street Dallas, TX.
    What is the lease rate?
    The lease rate is $7 SF/Yr.
    What are key features of this property?
    This property features: 2‑story commercial building built in 1951 with brick and concrete construction and flat roof; Lot size over 37,800 SF with frontage on 3 main streets: 1209 Belleview St, 1306 Wall St, and 1204 Powhattan St; Rentable space reported as 12,000–26,000 SF with offered rent of $7.00 + NNN
    (972) 948-9200
    We can help!
    Listing Contact
    Sonya Rafie
    Sonya Rafie
    Real Estate License ID: 0330549
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    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.

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