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22252433
22252434

5007 IVY LN DALLAS TX 75241, DALLAS, TX 75241

DR
TX TX 0593957
Crimson House Realty Group
Listed by Crimson House Realty Group
$949,900
453 days on market
Updated 3 days ago

High-Yield Commercial Investment | Church or other Multi-Use

Details
Property Type Mixed Use, Special Purpose
Sub Type Religious/Church, School (+1)
Square Footage 12,747
Cap Rate 11.16%
NOI $106,004
Occupancy 100%
Tenancy Single
Lease Type Modified
Lease Term 60
Lease Expiration 03/01/2031
Remaining Term 57
Rent Bumps No
Pro-Forma Cap Rate 8.25%
Pro-Forma NOI $78,404
Price per SqFt $75
Year Built 1994
Year Renovated 2024
Acreage 0.500
Zoning Commercial
Lease Commencement 02/15/2026
Occupancy Date 02/15/2026
Ground Lease No
Sale Condition For sale by owner

Priced at $949,900 for BOTH properties, strong NOI & modified gross lease structure

Marketing description

Only Owner Financing Option available requires $750,000 down payment.

Endless Potential Awaits – Transform This Space Into Your Vision!

This versatile worship center is more than just a church—it’s a multi-purpose building perfect for a daycare, event center, school, non-profit outreach center or even a community funeral home facility. With two spacious auditoriums and separate entrances, the possibilities are endless. Inside, find classrooms, offices, and meeting rooms, plus a kitchen and Fellowship Hall for all your social event needs. ADA-approved bathrooms and parking ensure accessibility for all. Recent upgrades include a new roof (2022), 3 new HVAC systems (2024), fresh paint, updated flooring, light fixtures, and electrical improvements in smaller auditorium area. The space is ready for your mission with a modernized main entrance and comfortable, welcoming features. Perfectly suited for a wide range of uses, this property offers a blank canvas for you to create something extraordinary. Schedule a tour today and explore how this space can serve your vision! Property being sold together with an additional 0.5 acre lot located at 2635 56th Street, Dallas, TX - Nice lot most recently used for over flow parking, events area, community outreach. Please call for more information! 213-769-3433

Investment highlights

  • $10,500 Monthly rental income
  • New HVAC units
  • Multiple allowed possible uses
  • Roof in 2022
  • Part of the building is recently remodeled
  • Kitchen/Fellowship hall

Listing Contacts

DR
TX TX 0593957
Crimson House Realty Group
Listed by Crimson House Realty Group

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$106,004.00
$8,833.67/mo

Valuation Metrics

0
DSCR
11.16%
Cap Rate
11.16%
ROI

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Additional Information

Name
Myriam Teller
License
9002285/0503575
Brokerage
Peak Results Realty
Brokerage Phone
213-769-3433
Title
Broker of Record
Brokerage Address
1701 W. Northwest Hwy, Grapevine, TX 76051
Name
Daniel Resendez
License
TX 0593957
Brokerage
Peak Results Realty
Brokerage Phone
2137693433
Title
Realtor
Brokerage Address
1785 State Hwy 26
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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