Downtown Mixed-Use Development
315 W Main St Grand Prairie, TX 75050
315 W Main St, Grand Prairie, TX, 75050
Contact for pricing
For Sale
Contact for pricing
Two buildings in downtown core area, development opportunity.
Property Size6,284 SF
Lot Size0.45 Acres
Price / SF$206.87
Days on Market696
Property Features for 315 W Main St
General Information
- Standard status
- Active
- Size
- 6,284 SF
- Lot size
- 0.45 Acres
- Property subtype
- Mixed Use, Office, Retail, Special Purpose
Listing Agency
Client Based Properties Inc
(682) 227-2787
Listed by
Chuck Precopia · License #TX 307628
Source
Crexi
Added: Aug 21, 2024 Checked: Jul 16 at 4:19 am
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 Client Based Properties Inc
Investment Insights
Based on property information with market context.
Centrally located in the Downtown Core Area per the 2019 Master Development Plan, this property fronts Main Street between the Grand Civic Plaza (under construction) and Grand Prairie City Hall. It comprises two retail/office buildings, one with 3,836 square feet and the other with 2,448 square feet. A side door provides drive-thru access. The property includes street-front parking and access drives to parking in the rear. There is access to a City Parking lot on the south side of the property. The total land area for the two buildings is 19,560 square feet. Two of the five spaces are currently occupied by tenants on month-to-month leases, who will be given a 60-day notice to vacate upon sale. See Development Plans on City Website - www.gptx.org.
Key Highlights
- Centrally located in Downtown Core Area per 2019 Master Development Plan.
- Fronting Main Street between Grand Civic Plaza (under construction) and Grand Prairie City Hall.
- Two retail/office buildings totaling 6,284 sq.ft. (3,836 sq.ft. & 2,448 sq.ft.).
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $129.7k | $20.64 |
| − Vacancy | −$6.1k | −$0.97 |
| EGI | $123.6k | $19.67 |
| − OpEx | −$37.1k | −$5.90 |
| NOI | $86.5k | $13.77 |
6,284 SF · lease $20.64/SF/yr · vacancy 4.70% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.24M
$1.08M – $1.44M
NOI $86,524 @ 7.0% cap · market cap 6.66%
Second Best
Mixed Use
$1.21M
$1.06M – $1.41M
NOI $84,834 @ 7.0% cap · market cap 6.53%
Theoretical Best
Office A
$1.77M
$1.55M – $2.06M
NOI $123,669 @ 7.0% cap · market cap 9.51%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
NAPA Auto Parts
Auto Parts Store
Chiropractic Center of Grand ...
Alternative Medicine Practice
Dr. David Lowe ...
Alternative Medicine Practice
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Two buildings in downtown core area, development opportunity.
Where is this mixed-use property located?
The property is located at 315 W Main St Grand Prairie, TX.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Centrally located in Downtown Core Area per 2019 Master Development Plan.; Fronting Main Street between Grand Civic Plaza (under construction) and Grand Prairie City Hall.; Two retail/office buildings totaling 6,284 sq.ft. (3,836 sq.ft. & 2,448 sq.ft.).
