Renovated Mixed-Use
For Sale
$4,562,500
1303 Dragon Street, Dallas, TX 75207
CommercialSale, Dallas, TX
Property Size12,500 SF
Lot Size0.24 Acres
Price / SF$365
Days on Market320
Property Features for 1303 Dragon Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
Mixed Use - Showroom, Retail, Residential
Parking features
Garage, Assigned
Subdivision
1303 Dragon Street Condos
Directions
GPS Friendly
Standard status
Active
APN
00C71850001303A00
Lot size
0.24 Acres
Taxes and HOA fees
Tax Description
1303 DRAGON STREET CONDOS BLK 5/6835 LT24&PT3
Tax Annual Amount
19049
Legal Description
1303 DRAGON STREET CONDOS BLK 5/6835 LT24&PT3
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
climate-controlled six-car garage
private rooftop patio
grade level dock door
smart technology
Building Details
Year built
2005
Floors in Building
3
Number of units
4
Flooring type
Concrete, Tile
Building materials
Brick, Concrete
Roof type
Composition
Listing Agency:
OnDemand Realty
(214) 766-5833
Listed By:
Annie Stiles · License #0734735
(214) 766-5833
Added: Oct 8, 2025
Changed: Aug 21
Last Checked: Aug 23 at 12:06PM
MLS# 21081437
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.
Investment Insights
Based on property information with market context.
Located at 1303 Dragon Street, this mixed-use property combines 4,421 SF of ground-floor retail with three individually deeded residential condominiums measuring 2,947 SF, 2,498 SF, and 2,634 SF. The 12,500 SF configuration was renovated in 2021 and includes private residential entrances, high-end finishes, smart technology, a private rooftop patio, and a climate-controlled six-car garage. A grade-level dock door provides access to the private garage, while 18 on-site parking spaces serve the property.
The asset is positioned in Dallas’ Design District, within walking distance of restaurants, galleries, and nightlife. The property is also located steps from The Seam, a 160,000 SF destination featuring dining, retail, design, and wellness offerings. Public water and sewer serve the site, with central heating and central air throughout.
The asset is positioned in Dallas’ Design District, within walking distance of restaurants, galleries, and nightlife. The property is also located steps from The Seam, a 160,000 SF destination featuring dining, retail, design, and wellness offerings. Public water and sewer serve the site, with central heating and central air throughout.
Key Highlights
- 12,500 SF mixed‑use property with 4,421 SF of ground‑floor retail
- Three individually deeded residential condos: 2,947 SF, 2,498 SF, and 2,634 SF
- Renovated in 2021 with high‑end finishes and smart technology
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
$201,131
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
4.41%
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%
$4,022,620
$4.0M
Cap Rate 7%
$2,873,300
$2.9M
Cap Rate 9%
$2,234,789
$2.2M
Market Conditions
NOI Build-Up for 12,500 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
$301.5K $24.12/SF
− Vacancy
−$14.2K −$1.13/SF
EGI
$287.3K $22.99/SF
− OpEx
−$86.2K −$6.90/SF
NOI
$201.1K $16.09/SF
Area
Dallas, TX
Vacancy
4.70%
Lease Rate
$24.12 /SF/Yr
Expense Ratio
30.00%
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%
$4,022,620
Cap Rate 7%
$2,873,300
Cap Rate 9%
$2,234,789
Alternative Uses
Best Use
Retail
$2.87M
$2.51M – $3.35M
NOI $201,131 @ 7.0% cap · market cap 4.41%
Second Best
Apartment 5plus
$2.72M
$2.38M – $3.17M
NOI $190,075 @ 7.0% cap · market cap 4.17%
Theoretical Best
Office A
$15.00M
$13.12M – $17.50M
NOI $1,049,928 @ 7.0% cap · market cap 23.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,260
Businesses Nearby
35k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 56%
Dining 40%
Home Improvements & Furnishings 4%
7-Eleven
Shops & Services
14,002 visits/mo
0.3 miles
Burger King
Dining
10,939 visits/mo
0.4 miles
The UPS Store
Shops & Services
4,314 visits/mo
0.1 miles
Domino's Pizza
Dining
1,886 visits/mo
0.3 miles
Southern Maid Donuts
Dining
1,271 visits/mo
0.4 miles
Demographics for 75207, TX
7,116
Population
2,465
Households
2.9
Avg Household Size
33
Median Age
30%
College-Educated
81%
High-School Grad
3.9 sq mi
ZIP Area
1,825
Density / Sq Mi
$84,149
Median Household Income
$45,903
Median Earnings
$1,789
Median Rent
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-floor retail is paired with three individually deeded residential condominiums, private entrances, and on-site parking.
Where is this mixed-use property located?
The property is located at 1303 Dragon Street Dallas, TX.
What is the asking price?
The asking price for this property is $4,562,500.
What are key features of this property?
This property features: 12,500 SF mixed‑use property with 4,421 SF of ground‑floor retail; Three individually deeded residential condos: 2,947 SF, 2,498 SF, and 2,634 SF; Renovated in 2021 with high‑end finishes and smart technology
