Tower 22 District Apartment Site
Tower 22 District Apartment Site | $4,850,000 | Dallas, TX
Marketing description
Tower 22 District Apartment Site is a 33,000 SF infill asset with significant value add opportunity located just off the Santa Fe Trail east of Deep Ellum entertainment and office district in Dallas, Texas. Positioned just off Main Street totaling +/- 1.41 acres of land, the Property is just
minutes from Downtown Dallas on Main Street & South Haskell Avenue. The Property is currently leased to a single tenant with rent of $6.08 PSF NN, below market for an infill urban Dallas single tenant warehouse. Short term tenancy with a long term tenant allows for potential of
income stream while planning. Recent retail leasing activity moments away has demonstrated rents from $26.00 - $29.50 PSF NNN for recently renovated spaces. The Property benefits from an exceptional location, adjacent to Deep Ellum neighborhood, and exposure to over 26,000 vehicles per day at the adjacent Main Street and Haskell signalized intersection. The Property is priced significantly below replacement cost at just $6.08 PSF to the building.
Investment highlights
▪ 33,000 SF Urban Infill Asset Redevelopment Opportunity with In Place Cash Flow & Santa Fe Trail Adjacency in Dallas, TX
▪ Priced Below Replacement Cost at $146.97 PSF
▪ Total Land Size of +/- 1.41 Acres
▪ Adjacent Main Street Complete Streets Project Anticipated to Start Construction in 2026 has Attracted Walkable Retail Users Such as Easy Slider Restaurant, Koneko Fine Goods & Coffee, The Paddock, Among Others
▪ Densely Populated Submarket with Over 381,700 People in a 5-Mile Radius
▪ Multiple Coffee Users & Restaurants Seeking Main Street Locations in Tower 22 District
▪ Unique Trail Oriented Neighborhood East of Exposition Circle & Deep Ellum (Over 2,200 Multi-Family Units, 1.1M SF of Office Space & 110+ Restaurants, Music Venues & Retail Shops)
▪ Close Proximity to Baylor Hospital, Downtown Dallas, Lakewood & Knox- Henderson
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