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    Standalone Event Space with Open Plan Title is generated by Realmo AI

    4500 Malcolm X Boulevard, Dallas, TX 75215

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    For Lease
    $5,000/Mo $25 SF/Yr (calc)

    Standalone 2,400 SF open-concept assembly and event venue offered with absolute NNN responsibilities.

    Property size:
    2,400 SF
    Added:
    Jun 3, 2026
    Days on Market:
    4
    Last Refresh:
    Jun 5 at 2:01 am

    Property Features for 4500 Malcolm X Boulevard

    General Information

    Standard status
    Active
    Size
    2,400 SF

    Building Details

    Year Built
    1966

    We can help!

    Listing Contact
    Dianne Smilie

    Listing agent Dianne Smilie License #0773847

    Listing office The Harvest House Realty Group

    Listing date Jun 3, 2026

    Source Signaturere

    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 The Harvest House Realty Group

    HighLights

    • Standalone 2,400 SF open‑concept assembly and event space
    • Absolute NNN lease: tenant responsible for property taxes, building insurance, and interior/exterior maintenance
    • High‑density South Dallas corridor location with 130k+ residents reported in the remarks
    • Lease terms include negotiated rent starting at $5,000 per month
    • Frontage and signage potential noted for visibility

    Overview

    This standalone assembly and event space features an approximately 2,400 SF open-concept building with a largely unobstructed interior layout. The configuration is well suited for uses that benefit from a flexible floor plan, including congregations, creative studios, social clubs, or boutique event programming, subject to verification of zoning and permits.

    The property is located on 4500 Malcolm X Boulevard in Dallas, TX 75215, and is described as positioned within a high-density South Dallas corridor. The offering highlights strong frontage and signage potential for prominent visibility, and the site is presented as serving regional access for the Dallas–Fort Worth area.

    The lease is structured on absolute NNN terms. The tenant assumes direct responsibility for property taxes, building insurance, and interior and exterior maintenance. Prospective tenants should confirm zoning and permitted use with the City of Dallas before finalizing plans for assembly, events, or related programming.
    Location Intelligence

    Current Use by Public Records

    Harris Carrier Services Freight Service

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Dallas
    County
    Collin
    State
    Texas
    Longitude
    -96.753588
    Latitude
    32.756922

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    FAQs

    What type of property is this?
    Church & religious facility - Standalone 2,400 SF open-concept assembly and event venue offered with absolute NNN responsibilities.
    Where is this church & religious facility located?
    The property is located at 4500 Malcolm X Boulevard Dallas, TX.
    What is the lease rate?
    The lease rate is $5,000 /Mo.
    What are key features of this property?
    This property features: Standalone 2,400 SF open‑concept assembly and event space; Absolute NNN lease: tenant responsible for property taxes, building insurance, and interior/exterior maintenance; High‑density South Dallas corridor location with 130k+ residents reported in the remarks
    (682) 219-8535
    We can help!
    Listing Contact
    Dianne Smilie
    Real Estate License ID: 0773847
    Learn More
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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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