Cedars Commercial Development
For Sale
$1,499,900
2401 Hickory St, Dallas, TX 75215
Urban development site within PD-317 with flexible potential for mixed-use, industrial, office, multifamily, and retail concepts.
Property Size8,400 SF
Price / SF$178.56
Days on Market40
Property Features for 2401 Hickory St
General Information
Standard status
Active
Size
8,400 SF
Building Details
Year Built
1907
Listing Agency:
Duncan Real Estate Co.
(214) 476-8157
Listed By:
Ty Duncan · License #0693646
Source:
Tonyaharbin
Added: Jul 21
Changed: Aug 28
Last Checked: Aug 28 at 1:08PM
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 Duncan Real Estate Co.
Investment Insights
Based on property information with market context.
This commercial land parcel is located at 2401 Hickory St. in Dallas’s Cedars district. The site falls within the Cedars Special Purpose Development District, PD-317, and the property information identifies potential applications including mixed-use, industrial, light manufacturing, multifamily, office, and boutique retail development.
The property is also designated within a Federal Opportunity Zone. Its Dallas location places it near Downtown Dallas, Deep Ellum, and major transportation corridors, providing access to established urban destinations and regional routes. The surrounding district is characterized by creative spaces and ongoing redevelopment activity.
The property is also designated within a Federal Opportunity Zone. Its Dallas location places it near Downtown Dallas, Deep Ellum, and major transportation corridors, providing access to established urban destinations and regional routes. The surrounding district is characterized by creative spaces and ongoing redevelopment activity.
Key Highlights
- Located at 2401 Hickory St. in Dallas’s Cedars district
- Within the Cedars Special Purpose Development District, PD‑317
- Potential uses include mixed‑use, industrial, light manufacturing, multifamily, office, and boutique retail
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
$110,880
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
7.39%
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%
$2,217,600
$2.2M
Cap Rate 7%
$1,584,000
$1.6M
Cap Rate 9%
$1,232,000
$1.2M
Market Conditions
NOI Build-Up for 8,400 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
$201.6K $24.00/SF
− Vacancy
−$24.2K −$2.88/SF
EGI
$177.4K $21.12/SF
− OpEx
−$66.5K −$7.92/SF
NOI
$110.9K $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%
$2,217,600
Cap Rate 7%
$1,584,000
Cap Rate 9%
$1,232,000
Alternative Uses
Best Use
Mixed Use
$1.58M
$1.39M – $1.85M
NOI $110,880 @ 7.0% cap · market cap 7.39%
Second Best
Warehouse
$830.8K
$726.9K – $969.3K
NOI $58,155 @ 7.0% cap · market cap 3.88%
Theoretical Best
Office A
$10.08M
$8.82M – $11.76M
NOI $705,552 @ 7.0% cap · market cap 47.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,479
Businesses Nearby
Explore this area
Business Placement
Demographics for 75215, TX
18,806
Population
8,481
Households
2.2
Avg Household Size
37
Median Age
17%
College-Educated
73%
High-School Grad
7.7 sq mi
ZIP Area
2,442
Density / Sq Mi
$41,388
Median Household Income
$34,114
Median Earnings
$1,209
Median Rent
$137,700
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Urban development site within PD-317 with flexible potential for mixed-use, industrial, office, multifamily, and retail concepts.
Where is this commercial land located?
The property is located at 2401 Hickory St Dallas, TX.
What is the asking price?
The asking price for this property is $1,499,900.
What are key features of this property?
This property features: Located at 2401 Hickory St. in Dallas’s Cedars district; Within the Cedars Special Purpose Development District, PD‑317; Potential uses include mixed‑use, industrial, light manufacturing, multifamily, office, and boutique retail
