Flex Space with New Bay
For Sale
$1,169,000
4840 Memphis St, Dallas, TX 75207
Updated infrastructure supports office, showroom, studio, or boutique commercial use.
Property Size2,400 SF
Price / SF$487.08
Days on Market27
Property Features for 4840 Memphis St
General Information
Standard status
Active
Size
2,400 SF
Building Details
Year Built
1969
Listing Agency:
Compass RE Texas, LLC.
(214) 814-8100
Listed By:
Angela Downes · License #0409878
Source:
Yourdavisteam
Added: Aug 3
Changed: Aug 28
Last Checked: Aug 28 at 8:32PM
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 Compass RE Texas, LLC.
Investment Insights
Based on property information with market context.
Built in 1969, this 2,400-square-foot flex property has received practical infrastructure upgrades, including new plumbing and HVAC, updated 3-phase power, fresh interior paint, and a new bay door. The layout supports creative office, showroom, studio, and boutique commercial applications described for the property. A turfed rear area adds usable outdoor space, while the gated driveway provides controlled access.
The property offers direct access to Inwood Road, with connectivity to I-35E, Love Field, Oak Lawn, and Downtown Dallas. It is currently leased, providing ongoing income for an owner seeking an occupied commercial asset.
The property offers direct access to Inwood Road, with connectivity to I-35E, Love Field, Oak Lawn, and Downtown Dallas. It is currently leased, providing ongoing income for an owner seeking an occupied commercial asset.
Key Highlights
- 2,400 SF flex property built in 1969
- New plumbing and HVAC, updated 3‑phase power, and fresh paint
- New bay door supports flexible commercial functionality
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
$38,617
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
3.30%
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%
$772,340
$772.3K
Cap Rate 7%
$551,671
$551.7K
Cap Rate 9%
$429,078
$429.1K
Market Conditions
NOI Build-Up for 2,400 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
$57.9K $24.12/SF
− Vacancy
−$2.7K −$1.13/SF
EGI
$55.2K $22.99/SF
− OpEx
−$16.6K −$6.90/SF
NOI
$38.6K $16.09/SF
Area
Dallas, TX
Vacancy
4.70%
Lease Rate
$24.12 /SF/Yr
Expense Ratio
30.00%
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%
$772,340
Cap Rate 7%
$551,671
Cap Rate 9%
$429,078
Alternative Uses
Best Use
Office B
$1.97M
$1.72M – $2.30M
NOI $137,979 @ 7.0% cap · market cap 11.80%
Second Best
Retail
$551.7K
$482.7K – $643.6K
NOI $38,617 @ 7.0% cap · market cap 3.30%
Theoretical Best
Office A
$2.88M
$2.52M – $3.36M
NOI $201,586 @ 7.0% cap · market cap 17.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,102
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75207, TX
7,116
Population
2,465
Households
2.9
Avg Household Size
33
Median Age
30%
College-Educated
81%
High-School Grad
3.9 sq mi
ZIP Area
1,825
Density / Sq Mi
$84,149
Median Household Income
$45,903
Median Earnings
$1,789
Median Rent
Market
Vacancy Rate% for Office in Dallas, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Updated infrastructure supports office, showroom, studio, or boutique commercial use.
Where is this flex space located?
The property is located at 4840 Memphis St Dallas, TX.
What is the asking price?
The asking price for this property is $1,169,000.
What are key features of this property?
This property features: 2,400 SF flex property built in 1969; New plumbing and HVAC, updated 3‑phase power, and fresh paint; New bay door supports flexible commercial functionality
