Flex Space with Storefront
For Sale
$2,200,000
3004 Commerce Street, Dallas, TX 75226
Flexible space with exposed brick, full storefront windows, and semi-dock loading for retail or creative office use.
Property Size6,250 SF
Price / SF$352
Days on Market61
Property Features for 3004 Commerce Street
General Information
Standard status
Active
Size
6,250 SF
Property subtype
Commercial
Zoning
PD 269
Warehouse & Industrial
Clear Height
18 ft
Drive-In Doors
1
Building Details
Building Size
6,250 SF
Year Built
1941
Stories
1
Units
1
Listing Agency:
Trinity Southwest
(214) 663-4218
Listed By:
Patrick Hunt
(214) 663-4218
Source:
Signaturere
Added: Jun 13
Changed: Aug 8
Last Checked: Aug 11 at 2:57PM
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 flex-style property features exposed brick interiors and wood-decked ceilings, complemented by full storefront windows that bring in abundant natural light. The layout is designed to support multiple concepts, with both visual-facing storefront frontage and warehouse-oriented improvements. Operational functionality includes a grade-level door and semi-dock loading, along with approximately 18' clear height to accommodate a range of tenants and production or display setups.
Located in the heart of Deep Ellum, the property’s street-facing retail character aligns with uses that benefit from walk-in traffic and an immediately visible presence. Full storefront windows create a clear customer-facing frontage, while the semi-dock loading and clear height support light industrial, showroom, or mixed live/work needs.
The combination of storefront presentation and practical loading make this property a strong fit for retailers, showroom operators, creative offices, or live-work tenants seeking a flexible floor plan. The exposed-brick, character-rich interior can support both open collaboration and product display, while the loading features help reduce friction for deliveries and day-to-day operations.
Located in the heart of Deep Ellum, the property’s street-facing retail character aligns with uses that benefit from walk-in traffic and an immediately visible presence. Full storefront windows create a clear customer-facing frontage, while the semi-dock loading and clear height support light industrial, showroom, or mixed live/work needs.
The combination of storefront presentation and practical loading make this property a strong fit for retailers, showroom operators, creative offices, or live-work tenants seeking a flexible floor plan. The exposed-brick, character-rich interior can support both open collaboration and product display, while the loading features help reduce friction for deliveries and day-to-day operations.
Key Highlights
- Built in 1941 with exposed brick interiors and wood‑decked ceilings
- Full storefront windows designed to bring in natural light
- Grade‑level door plus semi‑dock loading for flexible access
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
Retail
$1.44M
$1.26M – $1.68M
NOI $100,565 @ 7.0% cap · market cap 4.57%
Second Best
Flex RnD
$783.5K
$685.6K – $914.1K
NOI $54,844 @ 7.0% cap · market cap 2.49%
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
9,320
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 Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flexible space with exposed brick, full storefront windows, and semi-dock loading for retail or creative office use.
Where is this flex space located?
The property is located at 3004 Commerce Street 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: Built in 1941 with exposed brick interiors and wood‑decked ceilings; Full storefront windows designed to bring in natural light; Grade‑level door plus semi‑dock loading for flexible access
