Back to Search
Property profile & analytics
FOR LEASE
Apartment buildings
5150 Lemmon Ave Dallas, TX 75209
Entity Owned
8-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US82-5432188
For Lease
1 / 5
$7,815,000
5150 Lemmon Ave, Dallas, TX 75209
View Listing →
Property summary
AI-generated overview
This exceptional retail opportunity is located at 5150 Lemmon Avenue in Dallas, Texas, within Dallas County, zip code 75209. The property is classified as a multi-tenant retail building with a restaurant subtype, offering a total of 3,046 square feet. Currently, 1,386 square feet of prime retail space is available for lease. This space is ideally situated in the vibrant West Highland Park neighborhood, benefiting from its strategic location between two major thoroughfares: the Dallas North Tollway (DNT) and Inwood Road. The high volume of traffic, including visitors to nearby Love Field Airport and the surrounding automotive businesses, ensures significant exposure for any tenant. This location provides excellent visibility and accessibility, making it an attractive option for businesses seeking a high-traffic location in a desirable area of Dallas. The property's address is easily accessible via major roadways, offering convenient access for both customers and employees. This is a rare opportunity to secure a well-positioned retail space in a thriving Dallas neighborhood.
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2008
Construction
FRAME
Total area
187,507 SF
Lot
3.08 ac (134,165 SF)
Zoning code
Z239
APN
002461000702A0000
UPID
US82-5432188
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
-
Arochi's Barbershop Barber Shop
-
K-Pop Ramen Dallas Restaurant
-
GDD Limited Food Processing Plant
-
OSCAR VELA Physician
-
Dr. Sunil Mahbubani Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$7.82M
Owner & transaction history
Highland Park West Lemmon LLC · 8 yrs held
Highland Park West Lemmon LLC
since 2017
3 recorded transactions
Zoning & alternative use
Z239 · Dallas, TX
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$12.7M
+33.5%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Dallas submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Dallas submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$9,530,000
Current use
MEDICAL BUILDING
$12,720,000
Change: +33% · Conversion: Moderate
Blend value · Realmo final
$7.82M
Range $7.03M – $8.60M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$42 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$1,007,976
Tax year 2023
Assessed value
$43,924,730
Assessed 2023
Previous assessed
$43,924,730
+0.0% YoY
Effective rate
2.29%
On assessed value
Assessed land
$4,695,780
Assessed improvement
$39,228,950
Land market value
$4,695,780
Improvement market value
$39,228,950
Total market value
$43,924,730
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
For Lease
Year built
2008
Construction
FRAME
Heating
CENTRAL
Cooling
CENTRAL
Buildings
3
Stories
5
Units
172
Total area
187,507 SF
Lot
3.08 ac (134,165 SF)
Zoning code
Z239
APN
002461000702A0000
UPID
US82-5432188
Jurisdiction
DALLAS
Metro division
DALLAS-PLANO-IRVING, TX METROPOLITAN DIVISION
Zoning & alternative use
Z239 · Dallas, TX
Zoning Z239 · permitted uses
Z239 · Dallas, TX
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Dallas. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$9.5M
MEDICAL BUILDING
Est. value
$12.7M
APARTMENT HOUSE (5+ UNITS) Current
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2008
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
5
Buildings
3
Units
172
Lot
3.08 ac
Current owner
From public records · entity-resolved
Highland Park West Lemmon LLC
Entity
Mailing address
1025 KANE CONCOURSE STE #215, BAY HARBOR ISLANDS, FL 33154-2118
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 5, 2017
—
Highland Park West Lemmon LLC
Gs Cityville LP
Trustees Deed
$52,000,000 · Keybank USA
Aug 30, 2013
—
Gs Cityville LP
Cityville Oak Park LP
Quit Claim Deed
related
$32,260,000 · Capital One Fin'l
—
—
Gs Cityville LP
—
Deed Of Trust
related
$2,415,100 · Capital One NA
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
