Greenville Avenue Retail Redevelopment
For Sale
Contact for pricing
6826 Greenville Ave, Dallas, TX 75231
Prime retail property with redevelopment potential on Greenville Avenue.
Property Size12,949 SF
Lot Size0.80 Acres
Price / SF$386.13
Days on Market680
Property Features for 6826 Greenville Ave
General Information
Standard status
Active
Size
12,949 SF
Lot size
0.80 Acres
Property subtype
Retail
Zoning
MU-3
Lease Type
NNN
Listing Agency:
Structure Commercial
Listed By:
Troy Morgan, CCIM · License #TX 543987
(817) 714-8395
Source:
Crexi
Added: Oct 29, 2024
Changed: Aug 26
Last Checked: Sep 7 at 10:30AM
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 Structure Commercial
Investment Insights
Based on property information with market context.
This retail property is located on Greenville Avenue in Dallas, TX. The site includes 12,949 square feet of building area on 0.8 acres. The property benefits from a high-traffic location with 23,148 vehicles per day recorded in 2022 on Greenville Avenue. It is surrounded by national retailers, including Costco, Whole Foods, and HomeGoods. The property features ingress and egress, substantial parking, and adjacent Oncor land. An existing billboard provides advertising potential. The location offers access to I-75, Park Lane, and Northwest Highway. This property is suitable for immediate use and future development.
Key Highlights
- Prime redevelopment potential on Greenville Avenue.
- High‑traffic location with 23,148 VPD (2022).
- Excellent ingress and egress with substantial parking, including adjacent Oncor land.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$208,355
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.17%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,167,100
$4.2M
Cap Rate 7%
$2,976,500
$3.0M
Cap Rate 9%
$2,315,056
$2.3M
Market Conditions
NOI Build-Up for 12,949 SF
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.
Gross rent
$312.3K $24.12/SF
− Vacancy
−$14.7K −$1.13/SF
EGI
$297.7K $22.99/SF
− OpEx
−$89.3K −$6.90/SF
NOI
$208.4K $16.09/SF
Area
Dallas, TX
Vacancy
4.70%
Lease Rate
$24.12 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,167,100
Cap Rate 7%
$2,976,500
Cap Rate 9%
$2,315,056
Alternative Uses
Best Use
Retail
$2.98M
$2.60M – $3.47M
NOI $208,355 @ 7.0% cap · market cap 4.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$15.54M
$13.60M – $18.13M
NOI $1,087,641 @ 7.0% cap · market cap 21.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,839
Businesses Nearby
944k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 51%
Dining 20%
Shops & Services 16%
Electronics 7%
Macy's
Apparel
178,412 visits/mo
0.4 miles
Dillard's
Apparel
102,662 visits/mo
0.4 miles
T.J. Maxx
Apparel
67,531 visits/mo
0.3 miles
Half Price Books
Shops & Services
55,824 visits/mo
0.3 miles
Best Buy
Electronics
51,396 visits/mo
0.4 miles
Demographics for 75231, TX
40,754
Population
21,412
Households
1.9
Avg Household Size
32
Median Age
39%
College-Educated
82%
High-School Grad
5.5 sq mi
ZIP Area
7,410
Density / Sq Mi
$54,884
Median Household Income
$40,100
Median Earnings
$1,220
Median Rent
$466,200
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Prime retail property with redevelopment potential on Greenville Avenue.
Where is this retail space located?
The property is located at 6826 Greenville Ave Dallas, TX.
What is the asking price?
The asking price for this property is $5,000,000.
What are key features of this property?
This property features: Prime redevelopment potential on Greenville Avenue.; High‑traffic location with **23,148 VPD (2022)**.; Excellent ingress and egress with substantial parking, including adjacent Oncor land.
