Townhome Residences with Rooftop
New
For Sale
$7,200,000
312 N Lancaster Ave, Dallas, TX 75203
Townhome community offering 3-bedroom, 3.5-bath units with dedicated first-floor office space and rooftop decks.
Property Size31,000 SF
Price / SF$232.26
Days on Market5
Property Features for 312 N Lancaster Ave
General Information
Standard status
Active
Size
31,000 SF
Total Parking Spaces
2
Property subtype
Commercial
Amenities
rooftop deck
Building Details
Year Built
2025
Listing Agency:
Compass RE Texas, LLC. Contact:
(214) 803-9000
Listed By:
Fahri Olgundeney
Source:
Amxrealty
Added: Jul 26
Changed: Jul 28
Last Checked: Jul 29 at 7:16AM
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 Compass RE Texas, LLC. Contact:
Investment Insights
Based on property information with market context.
This for-sale townhome community includes 16 residences, each designed as a 3-bedroom, 3.5-bath home at approximately 1,941 square feet. Each unit features a dedicated office space on the first floor, along with rooftop deck access. Interior finishes include engineered wood flooring throughout, European-style kitchen cabinetry, quartz countertops, and custom built-in cabinets in the bedrooms. Additional details include an open floor plan with tall doors and large windows, a living room accent wall, and low-maintenance finishes.
Each residence also includes a 2-car garage, large closets, and the combination of tall doors and oversized windows intended to bring natural light into the living areas.
Located near Bishop Arts District, Downtown Dallas, Farmers Market, and Deep Ellum, the property offers a self-contained townhome layout with office space integrated into the first-floor plan and rooftop outdoor space at the top of each unit.
Each residence also includes a 2-car garage, large closets, and the combination of tall doors and oversized windows intended to bring natural light into the living areas.
Located near Bishop Arts District, Downtown Dallas, Farmers Market, and Deep Ellum, the property offers a self-contained townhome layout with office space integrated into the first-floor plan and rooftop outdoor space at the top of each unit.
Key Highlights
- Newly built 2025 townhome community with 16 units in the Bishop area, each about 1,941 SF
- Each unit offers 3 bedrooms and 3.5 bathrooms with a dedicated office space on the first floor
- Homes include a rooftop deck plus an open floor plan with tall doors and large windows
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $959.8k | $30.96 |
| − Vacancy | −$102.7k | −$3.31 |
| EGI | $857.1k | $27.65 |
| − OpEx | −$385.7k | −$12.44 |
| NOI | $471.4k | $15.21 |
31,000 SF · lease $30.96/SF/yr · vacancy 10.70% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$6.73M
$5.89M – $7.86M
NOI $471,386 @ 7.0% cap · market cap 6.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$37.20M
$32.55M – $43.40M
NOI $2,603,821 @ 7.0% cap · market cap 36.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,459
Businesses Nearby
Explore this area
Business Placement
Demographics for 75203, TX
14,710
Population
6,862
Households
2.1
Avg Household Size
33
Median Age
17%
College-Educated
65%
High-School Grad
4.8 sq mi
ZIP Area
3,065
Density / Sq Mi
$46,358
Median Household Income
$32,690
Median Earnings
$1,110
Median Rent
$125,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Townhome community offering 3-bedroom, 3.5-bath units with dedicated first-floor office space and rooftop decks.
Where is this apartment building located?
The property is located at 312 N Lancaster Ave Dallas, TX.
What is the asking price?
The asking price for this property is $7,200,000.
What are key features of this property?
This property features: Newly built 2025 townhome community with 16 units in the Bishop area, each about 1,941 SF; Each unit offers 3 bedrooms and 3.5 bathrooms with a dedicated office space on the first floor; Homes include a rooftop deck plus an open floor plan with tall doors and large windows
