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    Architectural Urban Compound with Office-Zoned Home Title is generated by Realmo AI

    3502 Gillespie Street, Dallas, TX 75219

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    Claim this Listing
    For Sale
    Under Contract
    $13,000,000

    SINGLE_FAMILY - Dallas, TX

    Type:Office
    Lot size:
    0.90 Acres
    Added:
    May 19, 2026
    Days on Market:
    16
    Last Refresh:
    Jun 3 at 3:06 pm

    Property Features for 3502 Gillespie Street

    General Information

    Property type
    Residential
    Property subtype
    Office
    Parking features
    Driveway, Parking Lot
    Fireplace
    1
    Standard status
    Active Under Contract
    APN
    00000138844000000
    Lot size
    0.90 Acres

    Taxes and HOA fees

    Tax Description
    J H WEBSTER BLK 1030 PT LTS 10 & 11 ACS 0.166
    Tax Annual Amount
    32073

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central, Fireplace(s)
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1919
    Floors in Building
    2
    Number of units
    1
    Flooring type
    Wood, Tile
    Building materials
    Brick
    Roof type
    Composition

    We can help!

    Listing Contact
    Julie Smith
    Julie Smith

    Listing agent Julie Smith License #0697281

    Listing office United Real Estate Dallas, TX

    Listing date May 19, 2026

    MLS# 21025672

    Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • One‑acre urban compound with a 12,000 SF contemporary residence plus a 4,000 SF historic home.
    • Historic home is zoned for commercial office use (4,000 SF).
    • 5‑car underground garage and a full‑sized elevator connecting all three levels.
    • Resort‑style amenities include a gym with endless pool and water treadmill, wet sauna, private spa, movie theater, and golf simulator.
    • Smart‑home features include Lutron lighting and a Crestron AV system.
    • Brick construction with wood and tile flooring; central heating and central air; composition roof; fireplace present.

    Overview

    An exceptional architectural portfolio on a one-acre urban compound, combining contemporary design with historic charm and a high level of in-house versatility. The offering includes a striking 12,000-square-foot contemporary residence by Bernbaum Magadini Architects, along with a 4,000-square-foot historic home zoned for commercial office use. Nearly half an acre of park-like grounds adds a private setting within the property.

    The modern residence features clean, contemporary lines and elevated skyline views, with custom Italian-crafted glass mosaics integrated throughout. A full-sized elevator connects all three levels, including a ground-floor mother-in-law suite with private kitchen and laundry. Beneath the main level, a subterranean area includes a 5-car underground garage, a gym with an endless pool and water treadmill, a wet sauna, private spa, movie theater, and golf simulator. Smart-home systems include Lutron lighting and a Crestron AV setup, while the top floor provides an outdoor lounge with grill and full kitchen.

    Located at 3502 Gillespie Street in Dallas, the mix of a contemporary showpiece, a dedicated office-zoned residence, and extensive amenities creates a rare fit for buyers seeking a private compound with the option to support professional office use within the same ownership. The design-forward layout and connected levels are well-suited to owners who want both seclusion and functional adaptability.
    Property Profile Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    Restaurant Law Firm Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Dallas
    County
    Collin
    State
    Texas
    Longitude
    -96.807595
    Latitude
    32.805433

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    FAQs

    What type of property is this?
    Single family property - Two residences plus an office-zoned historic home on private grounds offer flexible living or business use.
    Where is this single family property located?
    The property is located at 3502 Gillespie Street Dallas, TX.
    What is the asking price?
    The asking price for this property is $13,000,000.
    What are key features of this property?
    This property features: One‑acre urban compound with a 12,000 SF contemporary residence plus a 4,000 SF historic home.; Historic home is zoned for commercial office use (4,000 SF).; 5‑car underground garage and a full‑sized elevator connecting all three levels.
    (972) 372-0590
    We can help!
    Listing Contact
    Julie Smith
    Julie Smith
    Real Estate License ID: 0697281
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    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.

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