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    3519 Miles St Dallas, TX 75209

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    For Sale
    Contact for pricing

    Dallas Office Building: Prime Location

    Property size:
    3,500 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    404
    This exceptional Dallas office building, totaling 3,500 square feet, presents a rare investment opportunity in the highly desirable Oak Lawn area. Situated on a 6,815 square foot lot at 3519 Miles St, Dallas, TX 75209, this property boasts two units within two single-story buildings constructed in 1948 and renovated in 2008 and 2010. The property benefits from a coveted location near the intersection of Lemmon Ave and Inwood Rd, a major business corridor with extremely low commercial vacancy. Its proximity to the Park Cities, Dallas Love Field Airport, and the Medical District ensures high visibility and access to a strong demographic. The area features high traffic counts, with approximately 38,190 vehicles daily on Lemmon Ave, and a population of approximately 157,076 within a 3-mile radius, boasting an average household income exceeding double the national average. Nearby amenities include Lowe's, Bank of America, Starbucks, CVS Pharmacy, and several luxury car dealerships. The property is zoned PD 193 and features convenient access to major thoroughfares, including the Dallas North Tollway. Adjacent to new housing developments, this infill location offers exceptional potential for growth and return on investment. The property's net rentable area is 3,500 square feet. This is a unique opportunity to acquire a well-located, income-producing asset in a thriving Dallas neighborhood.

    Property Features for 3519 Miles St

    General Information

    Property type
    Coworking space
    Square Feet
    3,500 SF
    Class
    C

    Building Details

    Year Built
    1948
    Buildings
    2
    Stories
    1
    Units
    2

    We can help!

    Listing Contact
    Ty Underwood
    Ty Underwood

    Learn more

    Property Insight Report

    HighLights

    • Excellent location in Oak Lawn, Dallas, near Lemmon Ave & Inwood Rd, minutes from Park Cities, Dallas Love Field, and the Medical District.
    • High traffic counts: ~38,190 vehicles daily on Lemmon Ave.
    • Strong demographics: 157,076 residents within a 3‑mile radius, with average household income exceeding double the national average.
    • Proximity to numerous amenities including Lowe's, Bank of America, Starbucks, CVS, and luxury car dealerships.
    Property Profile Location Intelligence

    Current Use by Public Records

    Mitchell & Mark PC Attorney

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Dallas
    County
    Dallas
    State
    Texas
    Longitude
    -96.8220681
    Latitude
    32.8270528

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    FAQs

    What type of property is this?
    Coworking space - Dallas Office Building: Prime Location
    Where is this coworking space located?
    The property is located at 3519 Miles St Dallas, TX.
    What are key features of this property?
    This property features: Excellent location in Oak Lawn, Dallas, near Lemmon Ave & Inwood Rd, minutes from Park Cities, Dallas Love Field, and the Medical District.; High traffic counts: ~38,190 vehicles daily on Lemmon Ave.; Strong demographics: 157,076 residents within a 3-mile radius, with average household income exceeding double the national average.
    (214) 520-8818
    Request Owner's contact information
    3519 Miles St Dallas, TX 75209
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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
    3519 Miles St Dallas, TX 75209
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    We can help!
    Listing Contact
    Ty Underwood
    Ty Underwood
    Real Estate License ID: TX 419172
    (214) 520-8818
    Learn more
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