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    Multibuilding Flex and Warehouse Property Title is generated by Realmo AI

    5520 Military Parkway, Dallas, TX 75227

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    For Sale
    $5,875,500

    COMMERCIAL - Dallas, TX

    Property size:
    31,450 SF
    Lot size:
    2.29 Acres
    Price / SF:
    $186/SF
    Added:
    Nov 7, 2025
    Days on Market:
    210
    Last Refresh:
    Jun 5 at 5:06 am

    Property Features for 5520 Military Parkway

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    Gated, Parking Lot
    Standard status
    Active
    APN
    00000434893000000
    Size
    31,450 SF
    Lot size
    2.29 Acres

    Taxes and HOA fees

    Tax Description
    BLK 5802 TR 15 ACS 2.2862
    Tax Annual Amount
    16063

    Utilities

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

    Building Details

    Year built
    1962
    Floors in Building
    1
    Number of units
    1
    Flooring type
    Tile, Concrete
    Building materials
    Brick
    Roof type
    Flat

    We can help!

    Listing Contact
    Charles Horton

    Listing agent Charles Horton License #0546099

    Listing office The Michael Group Real Estate Dallas, TX

    Listing date Nov 7, 2025

    MLS# 20783458

    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

    • 31,450 SF commercial property on 2.2860 acres with 3 buildings: 20,000 SF, 6,250 SF, and 5,200 SF
    • All buildings remodeled and updated; brick construction with flat roof
    • Fully climate‑controlled with central heating and central air
    • Restrooms in every suite plus city‑required fire suppression sprinkler system
    • Fully fenced lot with gated parking lot; ample on‑site parking
    • Four entrances on Military Parkway and one on Parkdale Road, plus five loading dock doors; 5 minutes to I‑30

    Overview

    A renovated multibuilding commercial campus totaling 31,450 square feet across three well-maintained buildings on 2.286 acres. The property offers flexible interior configurations, with updates throughout and a climate-controlled environment. Each suite includes restrooms, and a city-required fire suppression sprinkler system is already in place. The facility is also designed for operational needs, featuring ample parking within a fully fenced lot and five loading dock doors to support shipping, receiving, and tenant logistics. Current usage includes warehouse space, furniture manufacturing, retail, office suites, and an event center venue, giving the buildings a proven track record for adaptable commercial use.

    Access is built in from multiple directions, with four entrances on Military Parkway and one on Parkdale Road. The site is positioned for connectivity, with convenient drive times to major regional routes, including I-30, Downtown Dallas, and Interstates 35E, 75, and 45.

    This property is well-suited for owner-users and investors seeking space that can be leased, subdivided, or expanded across multiple buildings. The mix of warehouse, office, and retail/event-ready space supports a range of business models, while the on-site amenities and existing fire suppression system help reduce upfront improvements for many operators. The owner’s openness to owner financing may also offer additional flexibility for qualified buyers.

    Local Financial Insights For Retail

    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 $758.6k $24.12
    − Vacancy −$35.7k −$1.13
    EGI $722.9k $22.99
    − OpEx −$216.9k −$6.90
    NOI $506.0k $16.09
    31,450 SF · lease $24.12/SF/yr · vacancy 4.70% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $7.23M
    $6.33M – $8.43M (±1% cap)
    NOI $506,045 @ 7.0% cap · market cap 8.61%
    Second Best
    Flex RnD
    $3.94M
    $3.45M – $4.60M (±1% cap)
    NOI $275,974 @ 7.0% cap · market cap 4.70%
    Theoretical Best
    Office A
    $34.42M
    $30.12M – $40.16M (±1% cap)
    NOI $2,409,672 @ 7.0% cap · market cap 41.01%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Mill Direct Carpet ... Furniture & Home Goods

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Dallas
    County
    Collin
    State
    Texas
    Longitude
    -96.725093
    Latitude
    32.781357

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    FAQs

    What type of property is this?
    Flex space - Renovated, climate-controlled multibuilding campus with multiple access points, parking, and five loading dock doors.
    Where is this flex space located?
    The property is located at 5520 Military Parkway Dallas, TX.
    What is the asking price?
    The asking price for this property is $5,875,500.
    What are key features of this property?
    This property features: 31,450 SF commercial property on 2.2860 acres with 3 buildings: 20,000 SF, 6,250 SF, and 5,200 SF; All buildings remodeled and updated; brick construction with flat roof; Fully climate‑controlled with central heating and central air
    (214) 692-6400
    We can help!
    Listing Contact
    Charles Horton
    Real Estate License ID: 0546099
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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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