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Purse Building 601 Elm St 65,000 SF Office Building Dallas, TX 75202 $12,500,000 ($192.31/SF)
INVESTMENT HIGHLIGHTS
- Federal Historic Tax Credit (20%) – Approved and available credits.
- State Historic Tax Credit (25%) – Approved, transferable, and available credits.
- City of Dallas Property Tax Abatement – 10-year approved historic abatement, up to 100% relief.
- Boutique Hotel Conversion – Ideal for adaptive reuse into a boutique or lifestyle hotel leveraging historic charm and prime downtown visibility.
- Creative Office/Headquarters - Perfect for a single-tenant user or creative firm seeking a distinctive, character-rich headquarters environment.
- Mixed-Use Redevelopment – Flexible opportunity for ground-floor retail with upper-level hospitality, residential, or workspace potential.
EXECUTIVE SUMMARY
601 Elm Street (The Purse Building) – Redevelopment Opportunity | Downtown Dallas
A century-old Dallas landmark offering a rare, tax-credit-approved redevelopment opportunity in the heart of downtown. Built in 1905, the six-story Purse Building features red brick architecture, exposed interiors, and sweeping skyline views — the perfect canvas for a boutique hotel, hospitality concept, or flagship single-user destination.
Located in the Government District, steps from Dealey Plaza and the $3B Dallas Convention Center redevelopment, this property combines walkability, visibility, and unmatched historic character.
Financial Advantage:
Redevelopment is approved for 45% total historic tax credits — 20% Federal and 25% Texas State — substantially reducing project costs while preserving the building’s legacy.
***Brokers Welcome*** We pay all commission fees.
A century-old Dallas landmark offering a rare, tax-credit-approved redevelopment opportunity in the heart of downtown. Built in 1905, the six-story Purse Building features red brick architecture, exposed interiors, and sweeping skyline views — the perfect canvas for a boutique hotel, hospitality concept, or flagship single-user destination.
Located in the Government District, steps from Dealey Plaza and the $3B Dallas Convention Center redevelopment, this property combines walkability, visibility, and unmatched historic character.
Financial Advantage:
Redevelopment is approved for 45% total historic tax credits — 20% Federal and 25% Texas State — substantially reducing project costs while preserving the building’s legacy.
***Brokers Welcome*** We pay all commission fees.
PROPERTY FACTS
Sale Type
Investment
Sale Conditions
Property Type
Office
Property Subtype
Building Size
65,000 SF
Building Class
A
Year Built/Renovated
1905/2020
Price
$12,500,000
Price Per SF
$192.31
Tenancy
Multiple
Building Height
6 Stories
Typical Floor Size
9,168 SF
Slab To Slab
15’
Building FAR
6.49
Lot Size
0.23 AC
Zoning
CA1, Dallas - CA1,This district is provided to accommodate existing development in the central
area of the city, to encourage the most appropriate future land use
AMENITIES
- Bus Line
- Commuter Rail
- Roof Terrace
- Basement
- High Ceilings
- Natural Light
- Hardwood Floors
Walk Score®
Very Walkable (89)
Transit Score®
Excellent Transit (89)
Bike Score®
Very Bikeable (77)
PROPERTY TAXES
| Parcel Number | 00000100159000000 | Improvements Assessment | $1,275,770 |
| Land Assessment | $1,200,000 | Total Assessment | $2,475,770 |
PROPERTY TAXES
Parcel Number
00000100159000000
Land Assessment
$1,200,000
Improvements Assessment
$1,275,770
Total Assessment
$2,475,770
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Purse Building | 601 Elm St
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