Mixed-Use Property with 3
For Sale
$4,562,500
1303 Dragon Unit #A Street, Dallas, TX 75207
MULTI_FAMILY - Dallas, TX
Property Size12,500 SF
Lot Size0.24 Acres
Price / SF$365
Days on Market320
Property Features for 1303 Dragon Unit #A Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Parking
18
Parking features
Assigned, Garage, Alley
Interior features
Chandelier, DecorativeDesignerLightingFixtures, MultipleStaircases, OpenFloorplan, Pantry
Appliances
BuiltInGasRange, BuiltInRefrigerator, Dryer, Dishwasher, ElectricCooktop, ElectricOven, ElectricRange, Disposal, Refrigerator, Washer
Subdivision
1303 Dragon Street Condos
Elementary school
Carr
Middle school
Raul Quintanilla
High school
Pinkston
Elementary school district
Dallas ISD
Middle school district
Dallas ISD
High school district
Dallas ISD
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
smart technology throughout
high-end finishes
Building Details
Year built
2006
Floors in Building
3
Number of units
4
Flooring type
Tile, Concrete
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 5
Last Checked: Aug 23 at 8:06AM
MLS# 21081457
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.
1303 Dragon Street is a mixed-use property built in 2006 and extensively upgraded in 2021. The building totals 12,500 SF and features 4,421 SF of ground-floor retail space paired with three individually deeded residential condominiums totaling 2,947 SF, 2,498 SF, and 2,634 SF.
Each condo includes a private entrance and smart technology, with central HVAC and central air. Interior features include multiple staircases, open floorplan elements, pantry space, and decorator lighting elements. The property also offers a climate-controlled six-car garage, a private rooftop patio, and 18 on-site parking spaces.
Serviced by public water and public sewer, the property has a composition roof and brick construction with concrete elements. Parking is described as assigned with garage and alley access, supporting day-to-day usability for both retail and residents.
Each condo includes a private entrance and smart technology, with central HVAC and central air. Interior features include multiple staircases, open floorplan elements, pantry space, and decorator lighting elements. The property also offers a climate-controlled six-car garage, a private rooftop patio, and 18 on-site parking spaces.
Serviced by public water and public sewer, the property has a composition roof and brick construction with concrete elements. Parking is described as assigned with garage and alley access, supporting day-to-day usability for both retail and residents.
Key Highlights
- 12,500 SF mixed‑use property with 4,421 SF ground‑floor retail plus 3 condo units
- Built in 2006; extensively upgraded in 2021
- Three individually deeded condos: 2,947 SF, 2,498 SF, and 2,634 SF
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
$219,794
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
4.82%
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%
$4,395,880
$4.4M
Cap Rate 7%
$3,139,914
$3.1M
Cap Rate 9%
$2,442,156
$2.4M
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
$349.5K $27.96/SF
− Vacancy
−$35.5K −$2.84/SF
EGI
$314.0K $25.12/SF
− OpEx
−$94.2K −$7.54/SF
NOI
$219.8K $17.58/SF
Area
Dallas, TX
Vacancy
10.16%
Lease Rate
$27.96 /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%
$4,395,880
Cap Rate 7%
$3,139,914
Cap Rate 9%
$2,442,156
Alternative Uses
Best Use
Multifamily LT 5
$3.14M
$2.75M – $3.66M
NOI $219,794 @ 7.0% cap · market cap 4.82%
Second Best
Retail
$2.87M
$2.51M – $3.35M
NOI $201,131 @ 7.0% cap · market cap 4.41%
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
Location Intelligence
Trade Area within ½ mile
3,260
Businesses Nearby
Explore this area
Business Placement
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 Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use building built in 2006 with 4,421 SF ground-floor retail and three separately deeded condo units.
Where is this mixed-use property located?
The property is located at 1303 Dragon Unit #A 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 ground‑floor retail plus 3 condo units; Built in 2006; extensively upgraded in 2021; Three individually deeded condos: 2,947 SF, 2,498 SF, and 2,634 SF
