2707 State St Dallas, TX 75204

Property Details for 2707 State St

Year built

1987

Lot size

0.23 lot acres

Property size

7,125 SF

Property type

Commercial real estate

Description

This exceptional two-story, 7,125-square-foot office building in Dallas's vibrant Uptown district presents a compelling owner-user or investment opportunity. Built in 1987 and extensively renovated in 2019 ($200,000 investment), the property boasts a desirable location less than a mile from I-75, ensuring easy accessibility. The building is zoned PD 225 Historic District Core and features an ADA-compliant elevator. With a strong pro-forma cap rate of 10.47% and a pro-forma NOI of $261,844, this asset offers significant potential. The asking price is $2,500,000 ($350.88/sq ft). Situated in a high-income area, the property benefits from a densely populated area with approximately 379,172 residents within a five-mile radius and an average household income exceeding $150,717 within one mile. The 0.23-acre lot includes the main building and additional parking. This well-maintained Class B building is currently vacant, providing immediate occupancy for an owner-user or the opportunity to secure high-quality tenants. The property's prime location and recent renovations make it an attractive investment in a thriving Dallas submarket.