Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Savannah Square Multifamily Investment Opportunity Title is generated by Realmo AI

    309 SW 5th St, Grand Prairie, TX 75051

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    56-unit apartment community in Grand Prairie, Texas.

    Type:Multifamily
    Added:
    Apr 3, 2026
    Days on Market:
    65
    Last Refresh:
    Apr 3 at 5:41 am

    Property Features for 309 SW 5th St

    General Information

    Standard status
    Active
    Property subtype
    Multifamily

    We can help!

    Listing Contact
    Nick Fluellen

    Listing agent Nick Fluellen License #TX: 0521943, TX: 9001647

    Listing office Dallas Office

    Listing date Apr 3, 2026

    Source Marcusmillichap

    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 Dallas Office

    HighLights

    • 56‑unit apartment community in Grand Prairie, Texas.
    • Immediate operational upside through a water conservation program projected to reduce expenses by approximately $17,000 annually.
    • Approximately $97,000 invested in recent capital improvements (breaker replacements, roof upgrades, system enhancements) reducing near‑term capital requirements.
    • Savings already realized from electrical upgrades that have lowered insurance costs.
    • Located near the General Motors Arlington Assembly Plant and Arlington’s premier entertainment district.
    • Direct access to Interstate 30, Highway 360, and the George Bush Turnpike.

    Overview

    Savannah Square is a 56-unit apartment community located in Grand Prairie, Texas. The property offers operational upside through a water conservation program projected to reduce expenses by approximately $17,000 annually, alongside savings from electrical upgrades that have lowered insurance costs. Ownership has invested approximately $97,000 in recent capital improvements, including breaker replacements, roof upgrades, and system enhancements, reducing near-term capital requirements. Positioned near the General Motors Arlington Assembly Plant and Arlington’s premier entertainment district, and with direct access to Interstate 30, Highway 360, and the George Bush Turnpike, Savannah Square benefits from regional demand drivers and long-term growth fundamentals. This makes it an attractive value-add investment opportunity in the DFW metroplex.
    Location Intelligence

    Current Use by Public Records

    Savannah Square Apartments Apartment Complex Driftwood Apartments Apartment Building

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Grand Prairie
    County
    Dallas
    State
    Texas
    Longitude
    -97.008748
    Latitude
    32.742574

    Nearby Similar for Sale

    • $900,000

      Well-Maintained Office Building with Parking

      Cash-flowing, mostly leased office building with multiple suites and ample rear parking for tenants and visitors.
      726 Dalworth Street, Grand Prairie, TX 75050
      View Details
    • $1,499,000

      Remodeled Restaurant Bar Night Club

      Turnkey remodeled venue with approved occupancy for 72 and newly paved, striped parking—ready for a new hospitality concept.
      2601 W Jefferson Street, Grand Prairie, TX 75051
      View Details
    • $1,200,000

      Freestanding Drive-Thru Restaurant Building

      A well-maintained free-standing restaurant building with a drive-thru window, currently leased, and recently updated exterior and roof.
      455 W Pioneer Parkway, Grand Prairie, TX 75051
      View Details
    • $1,195,000

      Turnkey Second-Generation Restaurant

      Fully equipped, turnkey restaurant and real estate with second-generation operations and 12+ years of profitability.
      123 E Jefferson Street, Grand Prairie, TX 75051
      View Details
    • $500,000

      Licensed Child Care Center

      Well-equipped childcare facility with licensed capacity and a functional commercial kitchen, offering flexible space for community uses.
      622 Freetown, Grand Prairie, TX 75051
      View Details
    • $1,200,000

      Gas Station Property

      For-sale gas station property on a 0.3208-acre lot in Grand Prairie, Texas.
      3202 Corn Valley Road, Grand Prairie, TX 75052
      View Details
    • $995,000

      Industrial Yard with Metal Building

      High-visibility industrial yard with a 2,400 SF metal building and rock-base area for heavy equipment laydown.
      4775 Highway 287, Grand Prairie, TX 76065
      View Details
    • $3,500,000

      Flexible Worship and Education Facility

      Well-maintained church property with sanctuary, classrooms, offices, and ample parking, positioned for community and flexible program use.
      1715 Sandalwood Drive, Grand Prairie, TX 75052
      View Details
    • $255,000

      Turnkey Beauty Salon Storefront

      Turnkey salon setup with included furniture, equipment, and the building for immediate owner-operator or stylist use.
      2526 Hillcrest Lane, Grand Prairie, TX 75052
      View Details
    • $429,000

      Open Retail Showroom Space

      Large, open layout offers adaptable space for retail, service, or showroom concepts with convenient freeway access nearby.
      630 Dalworth Street, Grand Prairie, TX 75050
      View Details
    • $1,900,000

      Church Property with Sanctuary

      Well-kept church facility with a spacious sanctuary, flexible classrooms and offices, plus on-site parking and outdoor space.
      501 NE 31st Street, Grand Prairie, TX 75050
      View Details
    • $484,000

      Renovated Triplex Investment

      Fully leased renovated triplex with private backyards in every unit and recent foundation repairs.
      406 Dawson Circle, Grand Prairie, TX 75051
      View Details

    FAQs

    What type of property is this?
    Apartment building - 56-unit apartment community in Grand Prairie, Texas.
    Where is this apartment building located?
    The property is located at 309 SW 5th St Grand Prairie, TX.
    What are key features of this property?
    This property features: 56‑unit apartment community in Grand Prairie, Texas.; Immediate operational upside through a water conservation program projected to reduce expenses by approximately $17,000 annually.; Approximately $97,000 invested in recent capital improvements (breaker replacements, roof upgrades, system enhancements) reducing near‑term capital requirements.
    (972) 755-5214
    We can help!
    Listing Contact
    Nick Fluellen
    Real Estate License ID: TX: 0521943, TX: 9001647
    Learn More
    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
    309 SW 5th St, Grand Prairie, TX 75051
    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!