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    6850 Greenville Ave Dallas, TX 75231

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    For Lease
    Contact for pricing

    Prime Dallas location, ±3,844 SF, drive-thru ready.

    Lot size:
    3,844 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    407
    This ±3,844 square foot single-tenant retail building, situated on a ±0.31-acre lot (13,505 square feet), presents a unique investment opportunity in Dallas County's Highland Park submarket. Located at the corner of Greenville Avenue and Fair Oaks Avenue, this Class B property boasts a highly desirable drive-thru configuration, perfect for beverage sales. Built in 1965 and renovated in 2005, the building features 18 parking spaces, three-phase power, and a large pole sign on Greenville Avenue. The interior includes two restrooms, one office, two pay stations, and two drive-thru lanes. Previously operating as a beer and wine drive-thru, the space retains walk-in refrigerators and seventeen self-serve windows, all still operational. The property benefits from exceptional visibility and high traffic counts, with Greenville Avenue averaging approximately 23,300 vehicles per day and Park Lane averaging approximately 38,000 vehicles per day. Its proximity to The Shops at Park Lane and North Park Mall further enhances its appeal. Zoned MU-3, allowing for multi-use development including retail, office, hotel, multifamily residential, and restaurants with drive-thrus, this property represents one of the largest contiguous redevelopment tracts on Greenville Avenue. The APN is 00000367429000000. This is a vacant property.

    Property Features for 6850 Greenville Ave

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    3,844 SF
    Class
    B

    Building Details

    Year Built/Renovated
    1965/2005
    Buildings
    1
    Stories
    1

    Unit(s) available at that property

    Space
    Size
    3,844 SF

    We can help!

    Listing Contact
    Ty Underwood
    Ty Underwood

    Learn more

    Property Insight Report

    HighLights

    • 3,844 SF retail building on a 0.31‑acre lot (13,505 SF) in Dallas County's Highland Park submarket.
    • Single‑tenant, vacant building with 18 parking spaces.
    • Features a drive‑thru, walk‑in refrigerators, and 17 self‑serve windows; previously operated as a beer and wine store.
    • MU‑3 zoning allows for retail, office, hotel, multifamily, and restaurant uses.
    • Building has 3‑phase power and a large pole sign on Greenville Ave.
    • High traffic counts: Greenville Ave (approx. 23,300 VPD), Park Lane (approx. 38,000 VPD).
    Property Profile Location Intelligence

    Current Use by Public Records

    Drive through restaurants

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop 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
    Dallas
    State
    Texas
    Longitude
    -96.7656061
    Latitude
    32.8704171

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    FAQs

    What type of property is this?
    Restaurant - Prime Dallas location, ±3,844 SF, drive-thru ready.
    Where is this restaurant located?
    The property is located at 6850 Greenville Ave Dallas, TX.
    What are key features of this property?
    This property features: 3,844 SF retail building on a 0.31-acre lot (13,505 SF) in Dallas County's Highland Park submarket.; Single-tenant, vacant building with 18 parking spaces.; Features a drive-thru, walk-in refrigerators, and 17 self-serve windows; previously operated as a beer and wine store.
    Request Owner's contact information
    6850 Greenville Ave Dallas, TX 75231
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    Dallas, TX 75231
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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.

    More about this property
    6850 Greenville Ave Dallas, TX 75231
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    We can help!
    Listing Contact
    Ty Underwood
    Ty Underwood
    Real Estate License ID: TX 419172
    Learn more
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