Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    12224 N Central Expy Dallas, TX 75243

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    High-density mixed-use development site with excellent thoroughfare access.

    Property size:
    241,758 SF
    Lot size:
    5.55 Acres

    Property Features for 12224 N Central Expy

    General Information

    Standard status
    Active
    Zoning
    MU-3
    Size
    241,758 SF
    Lot size
    5.55 Acres

    We can help!

    Listing Contact
    Trey Mcghin
    Trey Mcghin
    Source: Crexi

    Listing Agency: Dosch Marshall Real Estate Listing Agent: Trey Mcghin

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Prime Mixed-Use Development Opportunity

    This property presents a prime development opportunity with MU-3 zoning, allowing for high-density mixed-use projects. The zoning permits a base Floor Area Ratio (FAR) of 3.2, with a maximum of 4.0. The base height allowance is 180 feet (16 stories), potentially reaching up to 270 feet with bonuses, and a maximum of 20 stories (excluding parking garages). The site allows up to 80% lot coverage, maximizing the buildable area. The location provides convenient access to major thoroughfares, being less than 1 mile from I-635 and US 75, and 3 miles east of State Hwy 289. It is situated in close proximity to various points of interest, including Texas Instruments Headquarters (6 minutes), NorthPark Center (10 minutes), University of Texas at Dallas (11 minutes), DFW International Airport (22 minutes), and Downtown Dallas (25 minutes). The property's mixed-use flexibility supports retail, office, hotel, and residential developments, with most main uses permitted by right, eliminating the need for a Specific Use Permit (SUP). The site is suitable for transit stations and transfer centers, accommodating a full range of commercial, office, and residential uses. The property size is 241758 square feet.
    Location Intelligence

    Current Use by Public Records

    Hotels

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Dallas
    County
    Collin
    State
    Texas
    Longitude
    -96.767843
    Latitude
    32.912866

    Nearby Similar for Sale

    • $700,000
      3,000 SF

      Versatile Commercial Space in Dallas

      3,000 sqft property with warehouse and office space.
      11127 Shady Trl, Dallas, TX 75229
      View Details
    • New
      $615,000
      1,344 SF

      Jefferson Blvd Retail Redevelopment Opportunity

      Redevelopment opportunity near Bishop Arts District with flexible zoning.
      250 W Jefferson Blvd, Dallas, TX 75208
      View Details
    • $750,000
      5,974 SF

      Retail Property in High Traffic Area

      Retail property in Dallas, TX with high traffic location.
      3415 S Malcolm X Blvd, Dallas, TX 75215
      View Details
    • $485,000
      2,000 SF

      Dallas Auto Shop and Repair

      Auto shop and repair facility with potential for commercial ventures.
      8632 San Marino Ave, Dallas, TX 75217
      View Details
    • $899,900
      0.21 Acres

      Commercial Opportunity Near Harry Hines

      Versatile property near major highways with immediate income potential.
      9738 Brockbank Dr, Dallas, TX 75220
      View Details
    • New
      $559,900
      1.08 Acres

      Established Dallas Childcare Facility

      Childcare facility on 1.08 acres, ideal for owner-users/investors.
      1123 E Ledbetter Dr, Dallas, TX 75216
      View Details
    • New
      $500,000
      0.57 Acres

      Versatile Commercial Property with Income

      Commercial property with rental income and flexible business space.
      1931 S Belt Line Rd, Dallas, TX 75253
      View Details
    • $900,000
      5,801 SF

      Retail Investment Opportunity, Dallas, TX

      High-traffic location, fully leased, established businesses, immediate income.
      9415 S R L Thornton Fwy, Dallas, TX 75232
      View Details
    • $1,400,000
      4,447 SF

      Commercial Property with Highway Frontage

      1.36-acre commercial property with office, workshop, and storage space.
      12540 C F Hawn Fwy, Dallas, TX 75253
      View Details
    • $1,900,000
      2,910 SF

      Historic Victorian in Uptown Dallas

      Victorian home in historic State Thomas neighborhood, zoned for commercial/residential.
      2315 Routh St, Dallas, TX 75201
      View Details
    • $2,400,000
      3,216 SF

      Modern Multipurpose Commercial Facility

      Modern commercial facility in Dallas, built in 2021.
      2661 Walnut Hill Ln, Dallas, TX 75229
      View Details
    • $3,499,999
      9,868 SF

      Hutchins Industrial Site on Expressway

      2.93-acre commercial-industrial site with frontage on South Central Expressway.
      10466 S Central Expy, Dallas, TX 75241
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - High-density mixed-use development site with excellent thoroughfare access.
    Where is this mixed-use property located?
    The property is located at 12224 N Central Expy Dallas, TX.
    What are key features of this property?
    This property features: - High-density MU-3 zoning with no maximum density limit and up to 4.0 FAR, allowing for significant development.; - Maximum height allowance of 180 feet (16 stories), potentially reaching 270 feet (20 stories) with bonuses.; - Mixed-use flexibility permits retail, office, hotel, and residential uses, mostly by right.
    (775) 815-7387
    Request Owner's contact information
    12224 N Central Expy Dallas, TX 75243
    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.
    12224 N Central Expy
    Dallas, TX 75243
    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
    12224 N Central Expy Dallas, TX 75243
    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

    We can help!
    Listing Contact
    Trey Mcghin
    Trey Mcghin
    Real Estate License ID: 643506
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!