Urban Land Compound with Office-Use
3508 Gillespie Street, Dallas, TX 75219
- Added:
- May 19, 2026
- Days on Market:
- 16
- Last Refresh:
- Jun 3 at 12:06 am
Property Features for 3508 Gillespie Street
General Information
- Property type
- Land
- Property subtype
- Other
- Vegetation
- Cleared
- Standard status
- Active Under Contract
- APN
- 001030000A0190000
- Lot size
- 0.90 Acres
Taxes and HOA fees
- Tax Description
- REGENTS PARK BLK A/1030 LT 19 & 20
- Tax Annual Amount
- 12512
Utilities
- Sewer type
- Public Sewer
- Water source
- Public
Listing agent Julie Smith License #0697281 (972) 372-0590
Listing office United Real Estate Dallas, TX (972) 372-0590
Listing date May 19, 2026
MLS# 21025772
Listing URL
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
- 1‑acre urban compound with a 12,000 SF contemporary residence and a 4,000 SF historic home plus nearly half an acre of park‑like grounds
- 12,000 SF contemporary home designed by Bernbaum Magadini Architects with elevated skyline views and custom Italian glass mosaics
- 4,000 SF historic home zoned for commercial office use
- Full‑sized elevator connects all three levels, including a ground‑floor mother‑in‑law suite with private kitchen and laundry
- Subterranean level includes 5‑car underground garage, state‑of‑the‑art gym, endless pool, water treadmill, wet sauna, and private spa
- Smart home features include Lutron lighting and a Crestron AV system, plus movie theater and golf simulator
Overview
Offered for sale is a one-acre architectural portfolio set within a private urban compound. The package includes a 12,000-square-foot contemporary residence designed by Bernbaum Magadini Architects, plus a 4,000-square-foot historic home that is zoned for commercial office use. Nearly half an acre of park-like grounds adds a quiet, retreat-like setting, while the homes deliver distinctive, high-end features and finish details.
The contemporary residence is arranged across three levels with a full-sized elevator connecting each floor. Amenities include a ground-floor mother-in-law suite with a private kitchen and laundry, and a subterranean level with a five-car underground garage. Additional highlights are a state-of-the-art gym with an endless pool and water treadmill, a wet sauna, a private spa, a movie theater, and a golf simulator. The home is equipped with integrated Lutron lighting and a Crestron AV system, and offers elevated skyline views with indoor-outdoor entertaining on the top floor.
At 3508 Gillespie Street in Dallas (75219), this compound presents a rare opportunity for buyers seeking an owner-occupied campus or a multi-use setup that can support both residential living and commercial office utilization. The commercial zoning on the historic home may appeal to office users looking for a distinctive setting, while the combined site and privacy make it well-suited for investors evaluating unconventional, high-profile properties.
The contemporary residence is arranged across three levels with a full-sized elevator connecting each floor. Amenities include a ground-floor mother-in-law suite with a private kitchen and laundry, and a subterranean level with a five-car underground garage. Additional highlights are a state-of-the-art gym with an endless pool and water treadmill, a wet sauna, a private spa, a movie theater, and a golf simulator. The home is equipped with integrated Lutron lighting and a Crestron AV system, and offers elevated skyline views with indoor-outdoor entertaining on the top floor.
At 3508 Gillespie Street in Dallas (75219), this compound presents a rare opportunity for buyers seeking an owner-occupied campus or a multi-use setup that can support both residential living and commercial office utilization. The commercial zoning on the historic home may appeal to office users looking for a distinctive setting, while the combined site and privacy make it well-suited for investors evaluating unconventional, high-profile properties.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.64M | $102.48 |
| − Vacancy | −$413.2k | −$25.82 |
| EGI | $1.23M | $76.66 |
| − OpEx | −$306.6k | −$19.16 |
| NOI | $919.9k | $57.49 |
16,000 SF · lease $102.48/SF/yr · vacancy 25.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$13.14M
$11.50M – $15.33M
NOI $919,860 @ 7.0% cap · market cap 7.08%
Second Best
Apartment 5plus
$3.48M
$3.04M – $4.05M
NOI $243,296 @ 7.0% cap · market cap 1.87%
Theoretical Best
Office A
$19.20M
$16.80M – $22.40M
NOI $1,343,908 @ 7.0% cap · market cap 10.34%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Single family properties
Location Insight
- Map
- Local Demand
- City
- Dallas
- County
- Collin
- State
- Texas
- Longitude
- -96.807774
- Latitude
- 32.805579
Nearby Similar for Sale
FAQs
What type of property is this?
Single family property - Own a rare one-acre city compound combining a contemporary residence, a commercial office-zoned historic home, and expansive park-like grounds.
Where is this single family property located?
The property is located at 3508 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: 1‑acre urban compound with a 12,000 SF contemporary residence and a 4,000 SF historic home plus nearly half an acre of park‑like grounds; 12,000 SF contemporary home designed by Bernbaum Magadini Architects with elevated skyline views and custom Italian glass mosaics; 4,000 SF historic home zoned for commercial office use
