Freestanding Medical Office
New
For Sale
$650,000
2823 Kendale Drive, Dallas, TX 75220
Office-zoned property currently configured as a dental office near Love Field.
Property Size3,779 SF
Days on Market7
Property Features for 2823 Kendale Drive
General Information
Standard status
Active
Size
3,779 SF
Property subtype
Commercial
Zoning
Office
Building Details
Building Size
3,779 SF
Year Built
1948
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
AMX Realty
(469) 644-7432
Listed By:
Tuan Nguyen · License #0520866
(469) 644-7432
Source:
1111brokerage
Added: Aug 23
Changed: Aug 28
Last Checked: Aug 28 at 11:29AM
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 AMX Realty
Investment Insights
Based on property information with market context.
This freestanding medical office property contains 3,771 square feet and was built in 1948. The existing layout is configured for dental office use, with dental equipment available for separate negotiation. Office zoning supports office or medical applications.
The property includes parking and is positioned in an area noted for traffic and visibility. Love Field is located nearby, adding a recognizable reference point for the property’s Dallas location.
The property includes parking and is positioned in an area noted for traffic and visibility. Love Field is located nearby, adding a recognizable reference point for the property’s Dallas location.
Key Highlights
- 3,771‑square‑foot medical office property
- Built in 1948
- Currently configured as a dental office
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
$48,976
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
7.53%
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%
$979,520
$979.5K
Cap Rate 7%
$699,657
$699.7K
Cap Rate 9%
$544,178
$544.2K
Market Conditions
NOI Build-Up for 3,779 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
$90.7K $24.00/SF
− Vacancy
−$9.1K −$2.40/SF
EGI
$81.6K $21.60/SF
− OpEx
−$32.7K −$8.64/SF
NOI
$49.0K $12.96/SF
Area
Dallas, TX
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
40.00%
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%
$979,520
Cap Rate 7%
$699,657
Cap Rate 9%
$544,178
Alternative Uses
Best Use
Office B
$3.10M
$2.72M – $3.62M
NOI $217,260 @ 7.0% cap · market cap 33.42%
Second Best
Healthcare Medical
$699.7K
$612.2K – $816.3K
NOI $48,976 @ 7.0% cap · market cap 7.53%
Theoretical Best
Office A
$4.53M
$3.97M – $5.29M
NOI $317,414 @ 7.0% cap · market cap 48.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,348
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75220, TX
39,627
Population
15,589
Households
2.5
Avg Household Size
32
Median Age
23%
College-Educated
61%
High-School Grad
11.3 sq mi
ZIP Area
3,507
Density / Sq Mi
$57,787
Median Household Income
$33,127
Median Earnings
$1,164
Median Rent
$449,500
Median Home Value
Market
Vacancy Rate% for Office in Dallas, TX
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Office-zoned property currently configured as a dental office near Love Field.
Where is this medical office space located?
The property is located at 2823 Kendale Drive Dallas, TX.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 3,771‑square‑foot medical office property; Built in 1948; Currently configured as a dental office
