Two-Building Flex Industrial
For Sale
Contact for pricing
5510 South Westmoreland Road, Dallas, TX 75237
Two-building flex/light industrial asset on two parcels totaling 6.89 acres, fully leased to three tenants.
Property Size85,214 SF
Price / SF$158.42
Days on Market171
Property Features for 5510 South Westmoreland Road
General Information
Standard status
Active
Size
85,214 SF
Property subtype
Industrial
Building Details
Year Built
1984
Buildings
2
Tenancy
Multi
Listing Agency:
Colliers - Houston, Texas
Listed By:
Zack Martin · License #TX 772566
(832) 459-4310
Source:
Crexi
Added: May 8
Changed: Oct 24
Last Checked: Oct 24 at 2:52PM
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 Colliers - Houston, Texas
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Investment Insights
Based on property information with market context.
Westmoreland Business Center is a two-building flex/light industrial property offered for sale in fee simple. The asset totals approximately 85,214 square feet and is situated on 6.89 acres. It is 100% leased to three tenants, anchored by American Airlines.
The property is located in Dallas’s Redbird Airport submarket, approximately 10 miles southwest of the Dallas CBD. It is directly adjacent to Dallas Executive Airport and sits on a hard corner of S. Westmoreland Rd. and Love Bird Ln.
The offering is structured as an in-place, three-tenant arrangement with predominantly NNN characteristics, providing stable occupancy across the buildings.
The property is located in Dallas’s Redbird Airport submarket, approximately 10 miles southwest of the Dallas CBD. It is directly adjacent to Dallas Executive Airport and sits on a hard corner of S. Westmoreland Rd. and Love Bird Ln.
The offering is structured as an in-place, three-tenant arrangement with predominantly NNN characteristics, providing stable occupancy across the buildings.
Key Highlights
- Two‑building flex/light industrial property with 85,214 SF on 6.89 acres in Dallas, TX
- 100% leased to three tenants, anchored by American Airlines
- FAA‑required, mission‑critical tenancy with American Airlines and long operating history
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$747,753
Cap Rate
5.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$14,955,060
$15.0M
Cap Rate 7%
$10,682,186
$10.7M
Cap Rate 9%
$8,308,367
$8.3M
Market Conditions
NOI Build-Up for 85,214 SF
Gross rent
$1.28M $15.00/SF
− Vacancy
−$127.8K −$1.50/SF
EGI
$1.15M $13.50/SF
− OpEx
−$402.6K −$4.73/SF
NOI
$747.8K $8.78/SF
Area
Dallas, TX
Vacancy
10.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$14,955,060
Cap Rate 7%
$10,682,186
Cap Rate 9%
$8,308,367
Alternative Uses
Best Use
Flex RnD
$10.68M
$9.35M – $12.46M
NOI $747,753 @ 7.0% cap · market cap 5.54%
Second Best
Warehouse
$8.43M
$7.37M – $9.83M
NOI $589,958 @ 7.0% cap · market cap 4.37%
Theoretical Best
Office A
$102.25M
$89.47M – $119.29M
NOI $7,157,485 @ 7.0% cap · market cap 53.02%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
316
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 75237, TX
19,057
Population
8,790
Households
2.2
Avg Household Size
30
Median Age
17%
College-Educated
79%
High-School Grad
6.7 sq mi
ZIP Area
2,844
Density / Sq Mi
$43,149
Median Household Income
$34,800
Median Earnings
$1,193
Median Rent
$231,600
Median Home Value
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - Two-building flex/light industrial asset on two parcels totaling 6.89 acres, fully leased to three tenants.
Where is this flex space located?
The property is located at 5510 South Westmoreland Road Dallas, TX.
What is the asking price?
The asking price for this property is $13,500,000.
What are key features of this property?
This property features: Two‑building flex/light industrial property with 85,214 SF on 6.89 acres in Dallas, TX; 100% leased to three tenants, anchored by American Airlines; FAA‑required, mission‑critical tenancy with American Airlines and long operating history
