Refrigerated Distribution Warehouse with
For Sale
$5,569,000
510 S Good Latimer Expressway, Dallas, TX 75226
Climate-controlled refrigerated rooms and multiple loading docks support produce, food service, and wholesale distribution operations.
Property Size29,716 SF
Price / SF$174.03
Days on Market73
Property Features for 510 S Good Latimer Expressway
General Information
Standard status
Active
Size
29,716 SF
Property subtype
Commercial
Zoning
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
29,716 SF
Year Built
1963
Stories
2
Units
1
Listing Agency:
eXp Realty, LLC
(817) 475-0270
Listed By:
Trini Hernandez · License #0819493
(817) 475-0270
Source:
Signaturere
Added: Jun 1
Changed: Aug 8
Last Checked: Aug 12 at 12:52PM
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 eXp Realty, LLC
Investment Insights
Based on property information with market context.
This commercial warehouse is configured for temperature-sensitive logistics, with multiple refrigerated room and dedicated cold storage areas throughout. It also offers spacious warehouse and distribution space designed for flexible storage and day-to-day handling. Shipping and receiving are supported by multiple loading docks, along with both grade level and dock-high loading areas. In addition, the property includes office space and truck access to support operational administration on-site.
Positioned on S. Good Latimer Expressway in downtown Dallas, the facility benefits from highly accessible freeway connectivity to major highways. It has road frontage on S. Good Latimer Expressway and Taylor Street, and the building is described as having high visibility to N Central Expressway. The setting is near Dallas Farmers Market and Deep Ellum, supporting use cases tied to food, produce, and urban distribution needs.
With its combination of refrigerated storage, dock capacity, and practical logistics layout, this property is well suited for produce distribution, food service operations, cold storage, and wholesale supply businesses. The overall configuration supports streamlined receiving and outbound shipments, while the office component can accommodate teams that need to run daily warehouse and distribution functions from the site.
Positioned on S. Good Latimer Expressway in downtown Dallas, the facility benefits from highly accessible freeway connectivity to major highways. It has road frontage on S. Good Latimer Expressway and Taylor Street, and the building is described as having high visibility to N Central Expressway. The setting is near Dallas Farmers Market and Deep Ellum, supporting use cases tied to food, produce, and urban distribution needs.
With its combination of refrigerated storage, dock capacity, and practical logistics layout, this property is well suited for produce distribution, food service operations, cold storage, and wholesale supply businesses. The overall configuration supports streamlined receiving and outbound shipments, while the office component can accommodate teams that need to run daily warehouse and distribution functions from the site.
Key Highlights
- Commercial warehouse built in 1963 in downtown Dallas near Dallas Farmers Market and Deep Ellum
- On S. Good Latimer Expressway with road frontage on S. Good Latimer Expressway and Taylor Street
- Multiple refrigerated rooms and dedicated cold storage areas for temperature‑sensitive inventory
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
$221,544
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
3.98%
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%
$4,430,880
$4.4M
Cap Rate 7%
$3,164,914
$3.2M
Cap Rate 9%
$2,461,600
$2.5M
Market Conditions
NOI Build-Up for 32,000 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
$288.0K $9.00/SF
− Vacancy
−$27.4K −$0.86/SF
EGI
$260.6K $8.15/SF
− OpEx
−$39.1K −$1.22/SF
NOI
$221.5K $6.92/SF
Area
Dallas, TX
Vacancy
9.50%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
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%
$4,430,880
Cap Rate 7%
$3,164,914
Cap Rate 9%
$2,461,600
Alternative Uses
Best Use
Warehouse
$3.16M
$2.77M – $3.69M
NOI $221,544 @ 7.0% cap · market cap 3.98%
Second Best
Industrial
$2.61M
$2.28M – $3.04M
NOI $182,448 @ 7.0% cap · market cap 3.28%
Theoretical Best
Office A
$38.40M
$33.60M – $44.80M
NOI $2,687,816 @ 7.0% cap · market cap 48.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
5,088
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75226, TX
4,535
Population
3,221
Households
1.4
Avg Household Size
33
Median Age
38%
College-Educated
92%
High-School Grad
1.1 sq mi
ZIP Area
4,123
Density / Sq Mi
$69,589
Median Household Income
$52,972
Median Earnings
$1,731
Median Rent
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Climate-controlled refrigerated rooms and multiple loading docks support produce, food service, and wholesale distribution operations.
Where is this warehouse located?
The property is located at 510 S Good Latimer Expressway Dallas, TX.
What is the asking price?
The asking price for this property is $5,569,000.
What are key features of this property?
This property features: Commercial warehouse built in 1963 in downtown Dallas near Dallas Farmers Market and Deep Ellum; On S. Good Latimer Expressway with road frontage on S. Good Latimer Expressway and Taylor Street; Multiple refrigerated rooms and dedicated cold storage areas for temperature‑sensitive inventory
