Building Details

Year Built 1969

Listing Agency: Compass RE Texas, LLC.

Listed By: Angela Downes · License #0409878 Show Phone

Source: Tonyaharbin

Added: Aug 3 Changed: Oct 2 Last Checked: Oct 13 at 1:15AM

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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.

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 / Yr

$38,617

Cap Rate

3.30%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

NOI $137,979 @ 7.0% cap · market cap 11.80%

Second Best

Retail

$551.7K

$482.7K – $643.6K (±1% cap)

NOI $38,617 @ 7.0% cap · market cap 3.30%

Theoretical Best

Office A

$2.88M

$2.52M – $3.36M (±1% cap)

NOI $201,586 @ 7.0% cap · market cap 17.24%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Granite Interiors Building Supply

Suggested Use

Top Pick Nail Salon Locksmith Acupuncture Barber Shop Electrical Service Catering Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

19.2% 2019

21.1% 2020

21.5% 2021

21.6% 2022

22% 2023

26.2% 2024

25.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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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