Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3501 Gus Thomasson Rd & NWC of Town East Blvd Mesquite, TX 75150

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    57,000 SF retail and mixed-use center in Mesquite, TX.

    Type:Retail, Office, Restaurant
    Property size:
    57,000 SF
    Added:
    Apr 25, 2024
    Days on Market:
    722
    Last Refresh:
    Mar 17 at 1:20 pm

    Property Features for 3501 Gus Thomasson Rd & NWC of Town East Blvd

    General Information

    Standard status
    Active
    Size
    57,000 SF
    Property subtype
    Retail, Office, Restaurant

    Building Details

    Year Built
    1984

    Spaces For Lease

    at 3501 Gus Thomasson Rd & NWC of Town East Blvd Contact us

    We can help!

    Listing Contact
    Scott Eiting

    Listing agent Scott Eiting License #TX

    Listing office Dogwood Commercial Real Estate

    Listing date Apr 25, 2024

    Source Crexi

    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 Dogwood Commercial Real Estate

    Overview

    Retail and Mixed-Use Center

    Driftwood Village is a 57,000 square foot retail and mixed-use center located at the northwest corner of Town East Boulevard and Gus Thomasson Road in Mesquite, Texas. The center benefits from high traffic volume and an active retail corridor. It offers excellent visibility and easy access to I-30, I-635, and Highway 80. The tenant mix includes service-oriented users. Flexible spaces are available for retail, office, and restaurant uses. Prominent signage opportunities and pad sites are available.
    Location Intelligence

    Current Use by Public Records

    Mixed-use properties

    Map

    City
    Mesquite
    County
    Dallas
    State
    Texas
    Longitude
    -96.6289
    Latitude
    32.816

    Nearby Similar for Lease

    • Contact for pricing

      Downtown Mesquite Office Space Available

      Office space in revitalizing Downtown Mesquite with high visibility.
      501 W Main Street, Mesquite, TX 75149
      View Details
    • Contact for pricing

      Upstairs Office Space in Mesquite

      Affordable office space ideal for auto insurance business.
      621 W Main Street, Mesquite, TX 75149
      View Details
    • Contact for pricing

      Renovated Office/Warehouse with Highway Frontage

      Renovated office and warehouse space with highway frontage and billboard.
      3325 Interstate 30, Mesquite, TX 75150
      View Details
    • Contact for pricing

      Medical Office Suite in Mesquite

      White box medical office space available for immediate lease.
      1080 E Cartwright Road, Mesquite, TX 75149
      View Details
    • Contact for pricing

      Renovated Medical Condo Office Space

      Renovated medical condo office with prominent signage and ample parking.
      1050 N Belt line Road, Mesquite, TX 75149
      View Details
    • Contact for pricing

      Retail and Office Space Available

      Versatile retail and office spaces with customizable floor plans.
      624 S Bryan Belt Line Road, Mesquite, TX 75149
      View Details
    • Contact for pricing

      Mesquite Office Space For Lease

      Office space with all bills paid in a convenient location.
      609 N Ebrite Street, Mesquite, TX 75149
      View Details
    • Contact for pricing

      Mesquite Office with Live-Work Potential

      Office space with live-work potential, great access, ready for occupancy.
      5115 N Galloway Avenue N, Mesquite, TX 75150
      View Details
    • Contact for pricing

      Office Space in Mesquite, TX

      All bills paid office space in a convenient location.
      609 N Ebrite Street, Mesquite, TX 75149
      View Details
    • Contact for pricing

      Mesquite Retail/Office Opportunity

      Versatile retail or office space with ample parking in Mesquite.
      2920 Motley Drive, Mesquite, TX 75150
      View Details
    • Contact for pricing

      Versatile Commercial Space, Mesquite, TX

      Adaptable space suitable for office, retail, or institutional use.
      2920 Motley Drive, Mesquite, TX 75150
      View Details
    • Contact for pricing

      New Construction Retail/Office/Medical Space

      New construction in Mesquite, TX suitable for retail, office, or medical.
      955 W Cartwright Road, Mesquite, TX 75149
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - 57,000 SF retail and mixed-use center in Mesquite, TX.
    Where is this mixed-use property located?
    The property is located at 3501 Gus Thomasson Rd & NWC of Town East Blvd Mesquite, TX.
    What are key features of this property?
    This property features: Excellent visibility and easy access to I‑30, I‑635, and Highway 80.; High traffic volume location at the NW corner of Town East Blvd. and Gus Thomasson Rd.; 57,000 SF retail and mixed‑use center.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Scott Eiting
    Real Estate License ID: TX
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!