Flex Space with Loading
For Sale
$2,200,000
3004 Commerce St, Dallas, TX 75226
Brick interiors and full storefront windows support retail, showroom, creative office, or live-work use.
Property Size6,250 SF
Price / SF$352
Days on Market41
Property Features for 3004 Commerce St
General Information
Standard status
Active
Size
6,250 SF
Warehouse & Industrial
Clear Height
18 ft
Drive-In Doors
1
Amenities
exposed brick interiors
wood-decked ceilings
full storefront windows
grade-level door
semi-dock loading
Building Details
Year Built
1941
Listing Agency:
Trinity Southwest
(214) 444-8488
Listed By:
Patrick Hunt
Source:
Thebryandavisgroup
Added: Jul 21
Changed: Aug 29
Last Checked: Aug 25 at 7:06AM
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 Trinity Southwest
Investment Insights
Based on property information with market context.
This 6,250-square-foot flex property combines adaptable commercial space with distinctive interior finishes. Exposed brick, wood-decked ceilings, and full storefront glazing bring character and natural light to the layout. A grade-level door and semi-dock loading provide functional access for operations, deliveries, and space planning.
Built in 1941, the property is positioned at 3004 Commerce St in Dallas’s Deep Ellum district. Approximately 18’ of clear height expands its utility for retail, showroom, creative office, and live-work applications. The combination of customer-facing storefronts, flexible interiors, and loading capability supports a range of commercial configurations.
Built in 1941, the property is positioned at 3004 Commerce St in Dallas’s Deep Ellum district. Approximately 18’ of clear height expands its utility for retail, showroom, creative office, and live-work applications. The combination of customer-facing storefronts, flexible interiors, and loading capability supports a range of commercial configurations.
Key Highlights
- 6,250‑square‑foot flex property in Deep Ellum
- Exposed brick interiors with wood‑decked ceilings
- Full storefront windows provide abundant natural light
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
$100,565
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
4.57%
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%
$2,011,300
$2.0M
Cap Rate 7%
$1,436,643
$1.4M
Cap Rate 9%
$1,117,389
$1.1M
Market Conditions
NOI Build-Up for 6,250 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
$150.8K $24.12/SF
− Vacancy
−$7.1K −$1.13/SF
EGI
$143.7K $22.99/SF
− OpEx
−$43.1K −$6.90/SF
NOI
$100.6K $16.09/SF
Area
Dallas, TX
Vacancy
4.70%
Lease Rate
$24.12 /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%
$2,011,300
Cap Rate 7%
$1,436,643
Cap Rate 9%
$1,117,389
Alternative Uses
Best Use
Office B
$5.13M
$4.49M – $5.99M
NOI $359,321 @ 7.0% cap · market cap 16.33%
Second Best
Retail
$1.44M
$1.26M – $1.68M
NOI $100,565 @ 7.0% cap · market cap 4.57%
Theoretical Best
Office A
$7.50M
$6.56M – $8.75M
NOI $524,964 @ 7.0% cap · market cap 23.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18 ft
Clear height
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
5,150
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75226, TX
4,535
Population
3,221
Households
1.4
Avg Household Size
33
Median Age
38%
College-Educated
92%
High-School Grad
1.1 sq mi
ZIP Area
4,123
Density / Sq Mi
$69,589
Median Household Income
$52,972
Median Earnings
$1,731
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?
Flex space - Brick interiors and full storefront windows support retail, showroom, creative office, or live-work use.
Where is this flex space located?
The property is located at 3004 Commerce St Dallas, TX.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 6,250‑square‑foot flex property in Deep Ellum; Exposed brick interiors with wood‑decked ceilings; Full storefront windows provide abundant natural light
