Renovated Duplex with Mixed-Use Commercial
New
For Sale
$1,025,000
500 W 7th Street, Dallas, TX 75208
Renovated duplex with mixed-use commercial zoning below, ADA-compliant bath, and dual HVAC systems.
Days on Market2
Property Features for 500 W 7th Street
General Information
Standard status
Active
Total Parking Spaces
5
Property subtype
Duplex
Zoning
mixed-use commercial
Building Details
Building Size
3,124 SF
Year Built
1917
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Christie's Lone Star
(214) 821-3336
Listed By:
Jansen Klefeker · License #0691069
Source:
Nilesrealtygroup
Added: Jul 29
Changed: Jul 30
Last Checked: Jul 30 at 5:09AM
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 Christie's Lone Star
Investment Insights
Based on property information with market context.
Located at 500 W 7th Street in Dallas’ Bishop Arts area, this beautifully renovated duplex combines residential living with a lower level designed for mixed-use commercial use. The upper residence offers an open floorplan with two bedrooms and two full baths, a well-appointed kitchen, and a versatile third flex space suited for a home office, studio, or additional bedroom. Natural light, hardwood floors, and preserved historic character carry through the living areas, and furniture in the upstairs unit may convey with an acceptable offer.
The lower level is zoned for mixed-use commercial, providing flexibility for retail, office, or studio use. It includes both front and rear entrances, an ADA-compliant bathroom, and dedicated rear parking for approximately four to five vehicles.
Renovations throughout the property include updated plumbing and electrical, spray foam insulation, reinforced framing, Andersen windows, and a roof replacement in 2021. The home also features dual HVAC systems with new ducting.
The lower level is zoned for mixed-use commercial, providing flexibility for retail, office, or studio use. It includes both front and rear entrances, an ADA-compliant bathroom, and dedicated rear parking for approximately four to five vehicles.
Renovations throughout the property include updated plumbing and electrical, spray foam insulation, reinforced framing, Andersen windows, and a roof replacement in 2021. The home also features dual HVAC systems with new ducting.
Key Highlights
- Upper residence: two bedrooms, two full baths, plus a third flex space for office, studio, or bedroom
- Lower level zoned for mixed‑use commercial with both front and rear entrances
- ADA‑compliant bathroom on the commercial lower level
Financial Insights For Multifamily LT 5
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 | $87.3k | $27.96 |
| − Vacancy | −$8.9k | −$2.84 |
| EGI | $78.5k | $25.12 |
| − OpEx | −$23.5k | −$7.54 |
| NOI | $54.9k | $17.58 |
3,124 SF · lease $27.96/SF/yr · vacancy 10.16% · expense 30.00%
Alternative Uses
Best Use
Office B
$2.57M
$2.25M – $2.99M
NOI $179,603 @ 7.0% cap · market cap 17.52%
Second Best
Multifamily LT 5
$784.7K
$686.6K – $915.5K
NOI $54,931 @ 7.0% cap · market cap 5.36%
Theoretical Best
Office A
$3.75M
$3.28M – $4.37M
NOI $262,398 @ 7.0% cap · market cap 25.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,086
Businesses Nearby
Explore this area
Business Placement
Demographics for 75208, TX
29,446
Population
13,655
Households
2.2
Avg Household Size
36
Median Age
41%
College-Educated
76%
High-School Grad
6.1 sq mi
ZIP Area
4,827
Density / Sq Mi
$76,502
Median Household Income
$48,460
Median Earnings
$1,589
Median Rent
$415,200
Median Home Value
Market
Vacancy Rate% for Office in Dallas, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Renovated duplex with mixed-use commercial zoning below, ADA-compliant bath, and dual HVAC systems.
Where is this duplex located?
The property is located at 500 W 7th Street Dallas, TX.
What is the asking price?
The asking price for this property is $1,025,000.
What are key features of this property?
This property features: Upper residence: two bedrooms, two full baths, plus a third flex space for office, studio, or bedroom; Lower level zoned for mixed‑use commercial with both front and rear entrances; ADA‑compliant bathroom on the commercial lower level
