Live-Work Space With Private
New
For Sale
$1,600,000
2323 Farrington Street, Dallas, TX 75207
Flexible residential and professional layout with two bedrooms, two-and-a-half baths, and a commercial-grade kitchen.
Property Size3,800 SF
Price / SF$421.05
Days on Market2
Property Features for 2323 Farrington Street
General Information
Standard status
Active
Size
3,800 SF
Total Parking Spaces
2
Property subtype
Commercial
Zoning
IRD
Additional Details
Clear Height
14 ft
Amenities
commercial-grade chef's kitchen
covered outdoor patio
Building Details
Building Size
3,800 SF
Year Built
1958
Stories
1
Units
1
Listing Agency:
TCRE
(214) 718-1817
Listed By:
George Tanghongs · License #445363
(214) 718-1817
Source:
Fullhouserealtytx
Added: Aug 9
Changed: Aug 10
Last Checked: Aug 10 at 7:00AM
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 TCRE
Investment Insights
Based on property information with market context.
This 3,800-square-foot live-work property combines residential accommodations with a professional setting. The interior includes two bedrooms, two-and-a-half baths, 14-foot clear ceilings, expansive windows, and a commercial-grade chef’s kitchen. A private two-car garage supports secure parking and storage, while the 30' x 20' covered patio adds a substantial outdoor area for gatherings or work-related use.
Built in 1958 and zoned IRD, the property is positioned on Farrington Street in Dallas. Window exposures include views toward the Dallas skyline and Trinity River Park, providing a defined urban backdrop. The configuration supports a blend of living, office, and creative workspace functions within one property.
Built in 1958 and zoned IRD, the property is positioned on Farrington Street in Dallas. Window exposures include views toward the Dallas skyline and Trinity River Park, providing a defined urban backdrop. The configuration supports a blend of living, office, and creative workspace functions within one property.
Key Highlights
- 3,800‑square‑foot live‑work property in Dallas
- 14‑foot clear ceilings and expansive windows
- Two bedrooms and two‑and‑a‑half baths
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
$50,160
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
3.14%
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%
$1,003,200
$1.0M
Cap Rate 7%
$716,571
$716.6K
Cap Rate 9%
$557,333
$557.3K
Market Conditions
NOI Build-Up for 3,800 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
$91.2K $24.00/SF
− Vacancy
−$10.9K −$2.88/SF
EGI
$80.3K $21.12/SF
− OpEx
−$30.1K −$7.92/SF
NOI
$50.2K $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%
$1,003,200
Cap Rate 7%
$716,571
Cap Rate 9%
$557,333
Alternative Uses
Best Use
Office B
$3.12M
$2.73M – $3.64M
NOI $218,467 @ 7.0% cap · market cap 13.65%
Second Best
Mixed Use
$716.6K
$627.0K – $836.0K
NOI $50,160 @ 7.0% cap · market cap 3.14%
Theoretical Best
Office A
$4.56M
$3.99M – $5.32M
NOI $319,178 @ 7.0% cap · market cap 19.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14 ft
Clear height
Location Intelligence
Trade Area within ½ mile
1,462
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 Office in Dallas, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - Flexible residential and professional layout with two bedrooms, two-and-a-half baths, and a commercial-grade kitchen.
Where is this live-work space located?
The property is located at 2323 Farrington Street Dallas, TX.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 3,800‑square‑foot live‑work property in Dallas; 14‑foot clear ceilings and expansive windows; Two bedrooms and two‑and‑a‑half baths
