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701 Commerce St
Dallas, TX 75202
Downtown Dallas Hotel Conversion Opportunity · Office Property For Sale
Investment Highlights
- The property offers exceptional versatility in its design and zoning, making it ideal for future hotel use.
- While the interior has undergone extensive renovations, the historic character of the Katy Building has been meticulously preserved.
- State Tax Benefit: A 25% tax credit on qualified rehabilitation expenditures, applicable to projects exceeding $5,000 in costs.
- Developers have several concept options to explore, including luxury, lifestyle, upscale, boutique, or micro-hotel models, to suit market demands.
- For the financial analysis, HVS has projected 75 guestrooms, based on an assumed building allocation of 750 square feet per guestroom.
- Federal Historic Tax Credit: A 20% tax credit on qualified rehabilitation expenditures on federal income tax (with no limit).
Executive Summary
For more information, please visit the HVS marketing website to electronically execute the confidentiality agreement and get access to the Virtual Deal Room (VDR): https://brokerage.hvs.com/listing/?id=151548
HVS Brokerage & Advisory, as the sole and exclusive advisory firm to ownership, is pleased to present the exclusive opportunity to acquire the Katy Building, a historic Beaux-Arts architectural gem located at 701 Commerce Street. This distinguished property, perfectly positioned for redevelopment into a hotel, offers immense potential for future use. Located in Dallas’s West End Historic District, the property enjoys a prestigious position directly opposite the John F. Kennedy Memorial Plaza.
CALL-FOR-OFFERS DATE: THURSDAY, JUNE 26, 2025
All offers to purchase the hotel are due Thursday, June 26, 2025, by 5:00 PM CDT.??????? Please send proposals directly to HVS Brokerage & Advisory, c/o Eric Guerrerro, via email.
HVS Brokerage & Advisory, as the sole and exclusive advisory firm to ownership, is pleased to present the exclusive opportunity to acquire the Katy Building, a historic Beaux-Arts architectural gem located at 701 Commerce Street. This distinguished property, perfectly positioned for redevelopment into a hotel, offers immense potential for future use. Located in Dallas’s West End Historic District, the property enjoys a prestigious position directly opposite the John F. Kennedy Memorial Plaza.
CALL-FOR-OFFERS DATE: THURSDAY, JUNE 26, 2025
All offers to purchase the hotel are due Thursday, June 26, 2025, by 5:00 PM CDT.??????? Please send proposals directly to HVS Brokerage & Advisory, c/o Eric Guerrerro, via email.
Property Facts Under Contract
Sale Type
Investment
Property Type
Office
Building Size
56,125 SF
Building Class
B
Year Built/Renovated
1912/2015
Price
$9,000,000
Price Per SF
$160.36
Percent Leased
100%
Tenancy
Multiple
Building Height
8 Stories
Typical Floor Size
7,016 SF
Building FAR
3.79
Lot Size
0.34 AC
Zoning
Central Area District 1 - Commercial
Amenities
- 24 Hour Access
- Conferencing Facility
- Restaurant
- Signage
- Kitchen
- Storage Space
- Plug & Play
- Air Conditioning
Property Taxes
| Parcel Number | 00000100243000000 | Improvements Assessment | $2,300,000 |
| Land Assessment | $900,000 | Total Assessment | $3,200,000 |
Property Taxes
Parcel Number
00000100243000000
Land Assessment
$900,000
Improvements Assessment
$2,300,000
Total Assessment
$3,200,000
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