Versatile Commercial Property Near Downtown
For Sale
$1,200,000
5515 Parkdale Drive, Dallas, TX 75227
Updated 5200 sq ft commercial property with development potential.
Property Size5,200 SF
Lot Size0.69 Acres
Price / SF$230.77
Days on Market692
Property Features for 5515 Parkdale Drive
General Information
Standard status
Active
Size
5,200 SF
Lot size
0.69 Acres
Property subtype
Commercial/Industrial
Building Details
Year Built
1962
Listing Agency:
The Michael Group Real Estate
(817) 577-9000
Listed By:
Charles Horton · License #0546099
(469) 363-0209
Source:
Exitrealty
Added: Nov 26, 2024
Changed: Aug 14
Last Checked: Aug 21 at 9:16AM
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 The Michael Group Real Estate
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Investment Insights
Based on property information with market context.
This updated commercial property offers 5200 sq. ft. of space and versatility. Currently operating as a furniture manufacturing facility, the building is suitable for industrial, warehouse, manufacturing, retail, or office suites. The property includes two entrances, one on Military Parkway and another on Parkdale Drive. A heated shop area and two loading bays with overhead doors support operational efficiency. Ample parking is available within the fully fenced lot. The property is zoned PD 323, which allows for a variety of approved uses. It is located near downtown Dallas, approximately 5 minutes from I-30, 10 minutes from downtown Dallas, and 15 minutes from Interstates 35E, 75, and 45. The lot size is approximately 30,000 sq ft; the final measurement will be determined by survey.
Key Highlights
- Versatile 5200 sq. ft. commercial property suitable for various uses.
- Strategic location near downtown Dallas: quick access to major interstates.
- PD 323 Zoning offers a variety of approved uses.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,001
Cap Rate
3.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$720,020
$720.0K
Cap Rate 7%
$514,300
$514.3K
Cap Rate 9%
$400,011
$400.0K
Market Conditions
NOI Build-Up for 5,200 SF
Gross rent
$46.8K $9.00/SF
− Vacancy
−$4.4K −$0.86/SF
EGI
$42.4K $8.15/SF
− OpEx
−$6.4K −$1.22/SF
NOI
$36.0K $6.92/SF
Area
ZIP 75227
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 Rate 5%
$720,020
Cap Rate 7%
$514,300
Cap Rate 9%
$400,011
Alternative Uses
Best Use
Warehouse
$514.3K
$450.0K – $600.0K
NOI $36,001 @ 7.0% cap · market cap 3.00%
Second Best
Industrial
$423.5K
$370.6K – $494.1K
NOI $29,648 @ 7.0% cap · market cap 2.47%
Theoretical Best
Office A
$5.69M
$4.98M – $6.64M
NOI $398,420 @ 7.0% cap · market cap 33.20%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
236
Businesses Nearby
Explore this area
Business Placement
Demographics for 75227, TX
59,103
Population
19,605
Households
3
Avg Household Size
32
Median Age
14%
College-Educated
71%
High-School Grad
11.6 sq mi
ZIP Area
5,095
Density / Sq Mi
$59,395
Median Household Income
$37,641
Median Earnings
$1,277
Median Rent
$203,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Manufacturing property - Updated 5200 sq ft commercial property with development potential.
Where is this manufacturing property located?
The property is located at 5515 Parkdale Drive Dallas, TX.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Versatile 5200 sq. ft. commercial property suitable for various uses.; Strategic location near downtown Dallas: quick access to major interstates.; PD 323 Zoning offers a variety of approved uses.
