Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3111 Monticello Ave Dallas, TX 75205
    Property profile & analytics

    3111 Monticello Ave, Dallas, TX 75205

    View on Map
    • Retail space
    • 4,690 SF
    • 0.28 lot acres
    For Lease
    View Listing →
    Redevelopment Opportunity in Knox District For Lease
    Contact for pricing

    Redevelopment Opportunity in Knox District

    Rare redevelopment opportunity in a desirable Dallas location.

    3111 Monticello Ave, Dallas, TX 75205
    View Listing
    Property ID
    US82-1940537
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Katy Trail Beer and Taproom / Bar & Pub
    • Goodies Cakery / Bakery / Specialty Food Shop
    • Brian's Wine and More / Specialty Food Shop / Wine and Liquor Store

    Property Details for 3111 Monticello Ave

    Year built
    1961
    Construction
    TILT-UP CONCRETE
    Lot size
    0.28 lot acres
    Zone code
    Z239
    Property type
    Retail space
    APN
    166990000000
    APU
    166990000000

    Description

    This exceptional 0.28-acre commercial land parcel presents a rare redevelopment opportunity in Dallas' highly coveted Knox District, situated at the prominent corner of Monticello Avenue and McKinney Avenue. Boasting 12,108 square feet of land, this single-tenant property offers unparalleled visibility and accessibility. Its location provides prominent exposure along the US-75 access road, ensuring high traffic volume and brand recognition. Convenient on-site parking is available via access from Insurance Lane. The Knox District is renowned as one of Dallas' most walkable areas, featuring a vibrant mix of local and national retailers and restaurants. This prime location places the property in close proximity to a collection of best-in-class businesses, including Apple, Restoration Hardware, Weir's Furniture, Lululemon, and Crate & Barrel, solidifying its position within a thriving and desirable commercial environment. The property's size and location make it exceptionally well-suited for a variety of high-impact commercial developments, capitalizing on the area's strong demand and established reputation. Exclusive parking is provided for the property. The property is located in Dallas County, Texas, with a Dallas, TX 75205 zip code.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Dallas
    County
    Dallas
    State
    Texas
    Longitude
    -96.7858
    Latitude
    32.8269
    CBSA code
    19100
    CBSA name
    DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $34,947
    $1,512,500
    $10,410
    $1,522,910
    -
    $1,512,500
    $10,410
    $1,522,910

    Comparable in this City

    • Value Estimation by Request
      1,875 SF

      3205 Knox St

      RETAIL STORES (PERSONAL SERVICES)
      3205 Knox St, Dallas, TX 75205-4031
      View Details
    • Value Estimation by Request
      3,752 SF

      3010 Knox St

      RETAIL STORES (PERSONAL SERVICES)
      3010 Knox St, Dallas, TX 75205-4028
      View Details
    • Value Estimation by Request
      9,720 SF

      4501 Travis St

      RETAIL STORES (PERSONAL SERVICES)
      4501 Travis St, Dallas, TX 75205-4126
      View Details
    • Value Estimation
      $680,000
      6,966 SF

      6821 Preston Rd

      RETAIL STORES (PERSONAL SERVICES)
      6821 Preston Rd, Dallas, TX 75205-1135
      View Details
    • Value Estimation by Request
      1,492 SF

      6423 Hillcrest Ave

      RETAIL STORES (PERSONAL SERVICES)
      6423 Hillcrest Ave, Dallas, TX 75205-1852
      View Details
    • Value Estimation
      $520,000
      8,392 SF

      4510 Mckinney Ave

      RETAIL STORES (PERSONAL SERVICES)
      4510 Mckinney Ave, Dallas, TX 75205-4214
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,584 SF

      Retail Property in Dallas, Texas

      Retail property available for sale in Dallas, Texas.
      4005 St Andrews Dr, Dallas, TX 75205
      View Details
    • $1,499,000
      Pending

      University Park Building Site

      Building site in the heart of University Park.
      4415 Druid Ln, University Park, TX 75205
      View Details
    • Contact for pricing

      Mckinney Avenue Development Opportunity

      30,000 square feet of land on Mckinney Avenue.
      4400 Mckinney Ave, Dallas, TX 75205
      View Details
    • $2,600,000
      0.19 Acres

      University Park Duplex Near Amenities

      Duplex in prime location near park and Snider Plaza.
      3527 Westminster Ave, University Park, TX 75205
      View Details
    • $1,250,000
      0.11 Acres

      As-Is Duplex Lot Opportunity

      Duplex includes both sides on a street- and alley-accessible lot near SMU and Snider Plaza, within HPISD.
      3629 Granada Ave, University Park, TX 75205
      View Details
    • $8,995,000
      0.68 Acres

      Highland Park Treed Lot

      Rare 0.677 acre lot ready for dream home construction.
      4311 Rheims Pl, Highland Park, TX 75205
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,828 SF

      Retail Space in Hilltop Plaza

      Former nail salon in mixed-use project near SMU campus.
      6565 Hillcrest Ave, Dallas, TX 75205
      View Details
    • Contact for pricing
      3,500 SF

      Retail Endcap on Preston Road

      7,000 SF retail space available for lease on Preston Road.
      6901-6925 Preston Rd, Dallas, TX 75205
      View Details
    • Contact for pricing
      1,300 SF

      Restaurant Space Near SMU

      1,300 SF restaurant space available near SMU and Park Cities.
      6501 Hillcrest Ave, Dallas, TX 75205
      View Details
    • Contact for pricing
      3,083 SF

      Prime Retail Space in Dallas

      High-profile restaurant/retail opportunity in the heart of Park Cities.
      6604-6616 Snider Plz, Dallas, TX 75205
      View Details
    • Contact for pricing
      2,400 SF

      Retail Space in Snider Plaza

      2,400 sqft retail space in prime Snider Plaza location.
      6701 Snider Plz, Dallas, TX 75205
      View Details
    • Contact for pricing
      3,000 SF

      Prime Corner Retail Opportunity

      Exceptional visibility and access in a desirable Dallas location.
      3203 Cole Ave, Dallas, TX 75205
      View Details
    View Listing
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3111 Monticello Ave
    Dallas, TX 75205
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    3111 Monticello Ave, Dallas, TX, 75205
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!