Live-Work Space with
New
For Sale
Contact for pricing
2247 Sylvan Ave., Dallas, TX 75208
The property includes attached climate-controlled storage and convenient on-site parking.
Property Size2,000 SF
Price / SF$374.95
Days on Market5
Property Features for 2247 Sylvan Ave.
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Office, Mixed Use, Special Purpose
Investment Type
Owner/User
Additional Details
Highway Access
Yes
Amenities
attached climate controlled storage area
Building Details
Year Renovated
2021
Buildings
1
Stories
2
Units
2
Listing Agency:
Outside The Box Real Estate
Listed By:
Kara Rafferty · License #725024
Source:
Crexi
Added: Aug 7
Changed: Aug 11
Last Checked: Aug 11 at 7:33AM
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 Outside The Box Real Estate
Investment Insights
Based on property information with market context.
This 2,000 SF live-work property combines commercial workspace with an attached climate-controlled storage area. The configuration is suited to an owner-occupied small business and provides parking in front of and around the building.
Located on Sylvan Avenue in Dallas, the property offers access to downtown Dallas as well as I-30 and I-35. Its live-work format and dedicated storage component support business operations that require both workspace and controlled storage on the same site.
Located on Sylvan Avenue in Dallas, the property offers access to downtown Dallas as well as I-30 and I-35. Its live-work format and dedicated storage component support business operations that require both workspace and controlled storage on the same site.
Key Highlights
- 2,000 SF live‑work property
- Attached climate‑controlled storage area
- Parking available in front of and around the building
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
$26,400
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
3.52%
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%
$528,000
$528.0K
Cap Rate 7%
$377,143
$377.1K
Cap Rate 9%
$293,333
$293.3K
Market Conditions
NOI Build-Up for 2,000 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
$48.0K $24.00/SF
− Vacancy
−$5.8K −$2.88/SF
EGI
$42.2K $21.12/SF
− OpEx
−$15.8K −$7.92/SF
NOI
$26.4K $13.20/SF
Area
Dallas, TX
Vacancy
12.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$528,000
Cap Rate 7%
$377,143
Cap Rate 9%
$293,333
Alternative Uses
Best Use
Office B
$1.64M
$1.44M – $1.92M
NOI $114,983 @ 7.0% cap · market cap 15.33%
Second Best
Mixed Use
$377.1K
$330.0K – $440.0K
NOI $26,400 @ 7.0% cap · market cap 3.52%
Theoretical Best
Office A
$2.40M
$2.10M – $2.80M
NOI $167,988 @ 7.0% cap · market cap 22.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
522
Businesses Nearby
Explore this area
Business Placement
Demographics for 75208, TX
29,446
Population
13,655
Households
2.2
Avg Household Size
36
Median Age
41%
College-Educated
76%
High-School Grad
6.1 sq mi
ZIP Area
4,827
Density / Sq Mi
$76,502
Median Household Income
$48,460
Median Earnings
$1,589
Median Rent
$415,200
Median Home Value
Market
Vacancy Rate% for Office in Dallas, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - The property includes attached climate-controlled storage and convenient on-site parking.
Where is this live-work space located?
The property is located at 2247 Sylvan Ave. Dallas, TX.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: 2,000 SF live‑work property; Attached climate‑controlled storage area; Parking available in front of and around the building
