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Property profile & analytics
FOR SALE
Office buildings

3023 Commerce St Dallas, TX 75226

5,700 SF 0.56 ac lot Built 1947
Individually Owned 12-yr Hold ~ Est. High Equity
Property ID
US83-4263850
Property summary
AI-generated overview

This exceptional commercial property, located at 3023 Commerce St, Dallas, TX 75226, presents a unique investment opportunity. The site encompasses a substantial area, with potential square footage ranging from 13,010 to 25,265 square feet. Currently zoned PD 269, this property is designated for retail use and land development. The planned development is ambitious, envisioning a 17-story tower. The design incorporates a four-story parking garage, supporting 13 floors of residential apartments above. This mixed-use project, situated in the vibrant Deep Ellum area, is a 192-unit development. Construction has already begun, with the anticipated delivery of the initial units slated for mid-2024. The project's planned commencement date was the end of 2022. This property offers significant potential for investors seeking a high-impact development in a rapidly growing Dallas neighborhood. The substantial size and strategic location make this a compelling investment prospect with strong future growth potential. The property's retail zoning and the planned residential component create a synergistic development opportunity. Detailed plans and specifications are available upon request. This is a rare chance to acquire a significant piece of Dallas real estate with a clear vision for the future.

Property profile
Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1947
Construction TILT-UP CONCRETE
Total area 5,700 SF
Lot 0.56 ac (24,350 SF)
Zoning code Z239
APN 129400000000
UPID US83-4263850
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Kabajha Hair Care Hair Salon Nail Salon
  • Te'zers Salon and Barbar Hair Salon
  • Blissful Boujee (Bike/Boat/Book/etc) Store Cosmetic Store
  • Kariri & Ko Hair Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$555k
CAP Approach CAP
by Request
Comparable Approach Comparable
$706k
Blend (final) Blend
$630k
Owner & transaction history
Rumsey PLLC · 12 yrs held
Rumsey PLLC
since 2013
7 recorded transactions
2020
Price N/A
2019
Price N/A
2013
Price N/A
1969
Price N/A
1969
Price N/A
1969
Price N/A
1969
Price N/A
Zoning & alternative use
Z239 · Dallas, TX
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general) $865,000 +90.0%
Restaurant $800,000 +76.1%
Auto repair, garage $665,000 +46.1%
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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