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    Flex Space with Showroom Potential Title is generated by Realmo AI

    4840 Memphis Street, Dallas, TX 75207

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    Claim this Listing
    New
    For Sale
    $1,169,000

    COMMERCIAL - Dallas, TX

    Lot size:
    0.14 Acres
    Added:
    May 29, 2026
    Days on Market:
    6
    Last Refresh:
    Jun 3 at 12:06 pm

    Property Features for 4840 Memphis Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    Open, Parking Lot, On Street, Driveway
    Standard status
    Active
    APN
    00000814628300000
    Lot size
    0.14 Acres

    Taxes and HOA fees

    Tax Description
    HAMPTON & INDUSTRIAL BLK 5/8570 LT 11
    Tax Annual Amount
    8547

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central
    Cooling system
    Central Air, Electric
    Water source
    Public

    Building Details

    Year built
    1969
    Floors in Building
    1
    Number of units
    1
    Flooring type
    Concrete
    Building materials
    Brick
    Roof type
    Flat

    We can help!

    Listing Contact
    Angela Downes
    Angela Downes

    Listing agent Angela Downes License #0409878

    Listing office Compass RE Texas, LLC. Dallas, TX

    Listing date May 29, 2026

    MLS# 21189922

    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

    • Brick commercial building built in 1969 with flat roof and concrete flooring
    • Utilities: public water and public sewer; central heating and central air with electric cooling
    • Recent updates include new plumbing, new HVAC, fresh paint, and updated 3‑phase power
    • New bay door plus a turfed rear area for flexible outdoor use
    • Gated driveway with parking options including open parking lot, on‑street parking, and driveway parking
    • Currently leased; located in Dallas’ Medical District (75235) with direct access to Inwood Rd, I‑35E, Love Field, Oak Lawn, and Downtown Dallas

    Overview

    4840 Memphis Street is a flex-style commercial property that blends an industrial character with recent upgrades, suited for creative office, showroom, studio, or boutique commercial concepts. Improvements include new plumbing and HVAC, updated 3-phase power, fresh paint throughout, and a new bay door. The layout also includes a turfed rear area designed to support flexible outdoor use, and the property’s gated driveway helps maintain privacy and security.

    Located in Dallas’ Medical District (75235) and bordering the Design District, the property offers access to Inwood Road, I-35E, Love Field, Oak Lawn, and Downtown Dallas. The proximity to multiple corridors supports convenient daily operations and helps provide visibility for a range of customer-facing uses.

    Currently leased, the asset provides income while retaining long-term repositioning potential. With its upgraded infrastructure and flexible indoor-outdoor setup, it can serve tenants seeking a more hands-on, creative environment, along with operators looking for an adaptable space that can be tailored to showroom, studio, or specialty retail needs.
    Property Profile Location Intelligence

    Current Use by Public Records

    Granite Interiors Building Supply

    Suggested Use

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

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

    Similar Places Nearby

    • Freshnez — 4936 Reading St, Dallas, TX 75247
    • Sonny Bryan’s Smokehouse — 2202 Inwood Rd, Dallas, TX 75235

    Location Insight

    • Map
    • Local Demand
    City
    Dallas
    County
    Collin
    State
    Texas
    Longitude
    -96.850834
    Latitude
    32.806891

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    FAQs

    What type of property is this?
    Flex space - Upgraded flex property with new bay door, HVAC, plumbing, and 3-phase power for creative office or showroom use.
    Where is this flex space located?
    The property is located at 4840 Memphis Street 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: Brick commercial building built in 1969 with flat roof and concrete flooring; Utilities: public water and public sewer; central heating and central air with electric cooling; Recent updates include new plumbing, new HVAC, fresh paint, and updated 3‑phase power
    (214) 814-8100
    We can help!
    Listing Contact
    Angela Downes
    Angela Downes
    Real Estate License ID: 0409878
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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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