Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Redevelopment Opportunity in Knox District Title is generated by Realmo AI

    3111 Monticello Ave, Dallas, TX 75205

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Rare redevelopment opportunity in a desirable Dallas location.

    Type:Land
    Added:
    Nov 9, 2024
    Days on Market:
    572
    Last Refresh:
    May 12 at 10:52 pm

    Property Features for 3111 Monticello Ave

    General Information

    Standard status
    Active
    Property subtype
    Land

    Spaces For Lease

    at 3111 Monticello Ave Contact us

    We can help!

    Listing Contact
    Thomas Glendenning

    Listing agent Thomas Glendenning License #OK

    Listing office SHOP Companies Dallas

    Listing date Nov 9, 2024

    Source Crexi

    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 SHOP Companies Dallas

    HighLights

    • Prime location in the highly desirable and walkable Knox District
    • Rare re‑development opportunity
    • Prominent exposure on Monticello Ave & McKinney Ave, along the US‑75 access road
    • On‑site parking off Insurance Ln
    • Surrounded by best‑in‑class national and local brands
    • Located in one of Dallas’ most desirable districts

    Overview

    This property presents a redevelopment opportunity at the corner of Monticello Avenue and McKinney Avenue, situated in one of Dallas’ most desirable districts. The Knox District is known as a walkable shopping and dining area in the urban core of Dallas, featuring a mix of local and national brands. The site offers exposure along the US-75 access road and on-site parking off Insurance Lane. Neighboring businesses include Apple, Restoration Hardware, Weir’s Furniture, Lululemon, and Crate & Barrel.
    Property Profile Location Intelligence

    Current Use by Public Records

    Katy Trail Beer ... Bar & Pub Goodies Cakery Bakery Brian's Wine and More Specialty Food Shop

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Dallas
    County
    Collin
    State
    Texas
    Longitude
    -96.7857941
    Latitude
    32.8268548

    Nearby Similar for Lease

    • $8,500/Mo
      3,600 SF

      Medical-Ready Standalone Office

      Standalone medical-ready building with existing clinical infrastructure and flexible layout for urgent care, dental, or specialty uses.
      1619 Martin Luther King Jr Boulevard, Dallas, TX 75215
      View Details
    • $1,500/Mo

      Versatile Flex Space for Lease

      Flexible commercial space for office, retail, warehouse, service, or light industrial use with tenant-maintained responsibilities.
      4737 Village Fair Drive, Dallas, TX 75224
      View Details
    • $1,151/Mo

      Fully Furnished Private Office Workspace

      Move-in ready offices with onsite support, shared conference access, and utilities included for streamlined day-to-day operations.
      2626 Cole Avenue, Dallas, TX 75204
      View Details
    • $3,501/Mo

      Fully Furnished Private Office Suites

      Turnkey private offices with receptionist support, utilities, janitorial, conference access, and on-site fitness.
      2626 Cole Avenue, Dallas, TX 75204
      View Details
    • $4,000/Mo

      Flexible Office Building Lease

      Free-standing space with reception, consultation rooms, multiple offices, and an open area suited for medical or retail concepts.
      220 W 10th Street, Dallas, TX 75208
      View Details
    • $4,250/Mo

      Vintage Creative Office and Studio Space

      Historic 1940s character with a distinctive shotgun-style layout and abundant natural light for office, studio, or boutique retail use.
      3106 Swiss Avenue, Dallas, TX 75204
      View Details
    • $800/Mo

      Retail or Office Suite With Private Bath

      Flexible retail or office space with a private bathroom, ideal for small businesses seeking an affordable layout option.
      4737 Village Fair Drive, Dallas, TX 75224
      View Details
    • $4,000/Mo

      Warehouse-Office Flex Space

      Grade-level warehouse with dedicated office layout, meeting space, and ample paved parking for efficient loading and operations.
      11127 Shady Trail, Dallas, TX 75229
      View Details
    • $2,200/Mo

      Luxury Flex Space with Private Suite Areas

      Upscale flex suite with reception, kitchenette, private restroom, and two suite rooms near major highways.
      1739 Marfa Avenue, Dallas, TX 75216
      View Details
    • $1,975/Mo

      Corner Office Suite with Reception

      Corner office suite with reception and multiple private offices, positioned for strong visibility near a high-traffic intersection.
      8106 Scyene Road, Dallas, TX 75227
      View Details
    • $2,000/Mo

      Retail and Office Space for Lease

      Flexible back-building suite offers open retail/office space, bathroom, and parking with access to a back lot.
      3818 S Lancaster Road, Dallas, TX 75216
      View Details
    • $1,950/Mo

      Office Suite with Spa-Ready Flex

      High-end office opportunity in a condo tower with extensive on-site amenities and flexible leasing of two units.
      6211 W Northwest Highway, Dallas, TX 75225
      View Details

    FAQs

    What type of property is this?
    Commercial land - Rare redevelopment opportunity in a desirable Dallas location.
    Where is this commercial land located?
    The property is located at 3111 Monticello Ave Dallas, TX.
    What are key features of this property?
    This property features: Prime location in the highly desirable and walkable Knox District; Rare re‑development opportunity; Prominent exposure on Monticello Ave & McKinney Ave, along the US‑75 access road
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Thomas Glendenning
    Real Estate License ID: OK
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    3111 Monticello Ave, Dallas, TX 75205
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!