Prime Mixed-Use Development
For Sale
$21,770,325
1501 E Belt Line Road, Wilmer, TX 75172
69-acre mixed-use development opportunity near I-45, 15 miles from Dallas.
Property Size141,847 SF
Lot Size69.38 Acres
Price / SF$153.48
Days on Market675
Property Features for 1501 E Belt Line Road
General Information
Standard status
Active
Size
141,847 SF
Lot size
69.38 Acres
Property subtype
Lots/Land
Taxes and HOA fees
Annual Taxes
$69,322
Listing Agency:
The Michael Group Real Estate
(469) 363-0209
Listed By:
Charles Horton · License #0546099
(469) 363-0209
Source:
Exitrealty
Added: Oct 4, 2024
Changed: Aug 8
Last Checked: Apr 5 at 9:29PM
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 The Michael Group Real Estate
Investment Insights
Based on property information with market context.
This 69-acre mixed-use development is located close to I-45. Divisible lots ranging from 3 to 23 acres are available for various projects, including hotels, townhomes, single-family homes, multi-family housing, warehouse flex space, retail, and office space. Situated 15 miles from downtown Dallas, the site provides convenient access to major highways and city utilities. The location is near key corporations such as Amazon, Unilever, Whirlpool, and Procter & Gamble. Available lots include a 23,400 sq. ft. hotel and 141,847 sq. ft. of office warehouse space. The development is eligible for potential city tax incentives. Since 2020, Wilmer has experienced rapid growth, with 12 million sq. ft. of commercial space developed within a 5-mile radius.
Key Highlights
- Prime 69‑acre mixed‑use development site with divisible lots (3‑23 acres) suitable for diverse projects.
- Strategic location near I‑45, only 15 miles from downtown Dallas, with easy access to major highways and city utilities.
- Proximity to major corporations (Amazon, Unilever, Whirlpool, Procter & Gamble) indicating a strong business environment.
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
$735,308
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
3.38%
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%
$14,706,160
$14.7M
Cap Rate 7%
$10,504,400
$10.5M
Cap Rate 9%
$8,170,089
$8.2M
Market Conditions
NOI Build-Up for 141,847 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
$1.15M $8.12/SF
− Vacancy
−$101.4K −$0.71/SF
EGI
$1.05M $7.41/SF
− OpEx
−$315.1K −$2.22/SF
NOI
$735.3K $5.18/SF
Area
Dallas County, TX
Vacancy
8.80%
Lease Rate
$8.12 /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%
$14,706,160
Cap Rate 7%
$10,504,400
Cap Rate 9%
$8,170,089
Alternative Uses
Best Use
Industrial
$10.50M
$9.19M – $12.26M
NOI $735,308 @ 7.0% cap · market cap 3.38%
Second Best
Flex RnD
$9.80M
$8.58M – $11.44M
NOI $686,149 @ 7.0% cap · market cap 3.15%
Theoretical Best
Multifamily LT 5
$1,700.27M
$1,487.74M – $1,983.65M
NOI $119,018,924 @ 7.0% cap · market cap 546.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3
Businesses Nearby
Explore this area
Business Placement
Demographics for 75172, TX
5,519
Population
2,075
Households
2.7
Avg Household Size
30
Median Age
10%
College-Educated
66%
High-School Grad
11.3 sq mi
ZIP Area
488
Density / Sq Mi
$58,894
Median Household Income
$35,712
Median Earnings
$1,349
Median Rent
$104,300
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - 69-acre mixed-use development opportunity near I-45, 15 miles from Dallas.
Where is this commercial land located?
The property is located at 1501 E Belt Line Road Wilmer, TX.
What is the asking price?
The asking price for this property is $21,770,325.
What are key features of this property?
This property features: Prime 69‑acre mixed‑use development site with divisible lots (3‑23 acres) suitable for diverse projects.; Strategic location near I‑45, only 15 miles from downtown Dallas, with easy access to major highways and city utilities.; Proximity to major corporations (Amazon, Unilever, Whirlpool, Procter & Gamble) indicating a strong business environment.
