Listed by SHOP Companies
$4,850,000
Tower 22 District Apartment Site
Details
APN 00-00012-841-000-0000
Property Type Multifamily
Sub Type Apartment Building
Square Footage 33,000
Units 1
Tenancy Single
Year Built 1970
Stories 1
Acreage 1.410
Investment Type Value Add
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
Listing Contacts
Listed by SHOP Companies
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