Warehouse and Office Space
For Sale
$30,810,036
3051-3111 W Commerce St, Dallas, TX 75212
261,102 SF warehouse with 11,965 SF office space.
Property Size261,102 SF
Price / SF$118
Days on Market173
Property Features for 3051-3111 W Commerce St
General Information
Standard status
Active
Size
261,102 SF
Property subtype
Land
Building Details
Year Built
1978
Listing Agency:
(214) 335-3320
Listed By:
Adam Graham, SIOR, CCIM
(214) 335-3320
Source:
Lee-associates
Added: Mar 6
Changed: Jul 10
Last Checked: Aug 26 at 7:17AM
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 Adam Graham, SIOR, CCIM
Investment Insights
Based on property information with market context.
This property, located right off I-30 with access to local and interstate freeways including Loop 12 and I-35E, offers 261,102 square feet for sale, including 11,965 square feet of office space and 32,799 square feet of HVAC warehouse area. The warehouse features 33 dock doors and 3 ramps. It has a ceiling height of 28 feet and is equipped with a sprinkler system. The property includes two electrical systems: one with 600 amps at 277/480V and another with 2,500 amps at 277/480V.
Key Highlights
- Prime location with immediate access to I‑30, Loop 12, and I‑35E.
- 261,102 SF of warehouse space for sale.
- Significant electrical capacity: 3111 Electrical = 600 amps 277/480V, 3051 Electrical = 2,500 amps 277/480V.
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
$1,807,674
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
5.87%
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%
$36,153,480
$36.2M
Cap Rate 7%
$25,823,914
$25.8M
Cap Rate 9%
$20,085,267
$20.1M
Market Conditions
NOI Build-Up for 261,102 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
$2.35M $9.00/SF
− Vacancy
−$223.2K −$0.86/SF
EGI
$2.13M $8.15/SF
− OpEx
−$319.0K −$1.22/SF
NOI
$1.81M $6.92/SF
Area
Dallas, TX
Vacancy
9.50%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
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%
$36,153,480
Cap Rate 7%
$25,823,914
Cap Rate 9%
$20,085,267
Alternative Uses
Best Use
Office B
$214.44M
$187.64M – $250.18M
NOI $15,011,088 @ 7.0% cap · market cap 48.72%
Second Best
Warehouse
$25.82M
$22.60M – $30.13M
NOI $1,807,674 @ 7.0% cap · market cap 5.87%
Theoretical Best
Office A
$313.30M
$274.14M – $365.52M
NOI $21,931,064 @ 7.0% cap · market cap 71.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,150
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75212, TX
27,329
Population
9,250
Households
3
Avg Household Size
31
Median Age
16%
College-Educated
62%
High-School Grad
10.0 sq mi
ZIP Area
2,733
Density / Sq Mi
$56,279
Median Household Income
$34,458
Median Earnings
$1,085
Median Rent
$204,200
Median Home Value
Market
Vacancy Rate% for Office in Dallas, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - 261,102 SF warehouse with 11,965 SF office space.
Where is this warehouse located?
The property is located at 3051-3111 W Commerce St Dallas, TX.
What is the asking price?
The asking price for this property is $30,810,036.
What are key features of this property?
This property features: Prime location with immediate access to I‑30, Loop 12, and I‑35E.; 261,102 SF of warehouse space for sale.; Significant electrical capacity: 3111 Electrical = 600 amps 277/480V, 3051 Electrical = 2,500 amps 277/480V.
