Downtown Mixed-Use Development
315 W Main St, Grand Prairie, TX 75050
Two buildings in downtown core area, development opportunity.
Type:Mixed Use, Office, Retail, Special Purpose
Property size:
6,284 SFLot size:
0.45 AcresPrice / SF:
$206/SF- Added:
- Aug 21, 2024
- Days on Market:
- 651
- Last Refresh:
- May 12 at 9:51 pm
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 agent Chuck Precopia License #TX 307628
Listing office Client Based Properties Inc
Listing date Aug 21, 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 Client Based Properties Inc
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.).
- Includes a Side Door for Drive Thru.
- Street front parking and access drives to parking in rear.
- Access to a City Parking lot on the south side of the property.
Overview
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.
Local Financial Insights For Specialty 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 | $135.7k | $21.60 |
| − Vacancy | −$4.9k | −$0.78 |
| EGI | $130.8k | $20.82 |
| − OpEx | −$32.7k | −$5.21 |
| NOI | $98.1k | $15.62 |
6,284 SF · lease $21.60/SF/yr · vacancy 3.60% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.40M
$1.23M – $1.64M
NOI $98,136 @ 7.0% cap · market cap 7.55%
Second Best
Retail
$1.24M
$1.08M – $1.44M
NOI $86,524 @ 7.0% cap · market cap 6.66%
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 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
Location Insight
- Map
- Local Demand
- City
- Grand Prairie
- County
- Dallas
- State
- Texas
- Longitude
- -97.007284
- Latitude
- 32.745039
Nearby Similar for Sale
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.).
