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Elm Street Portfolio 6 Properties Offered at $6,300,000 in Dallas, TX
Investment Highlights
- Positioned just off Main Street totaling +/- 1.67 acres of land, just minutes from Downtown Dallas on Main Street & East Side Avenue.
- Below Market Net Effective Rent of $11.31 PSF with Activity Nearby Leasing from $24.00 - $30.00 PSF NNN for Recently Renovated Space
- 29,353 SF Urban Infill Retail Value Add Redevelopment Opportunity with In Place Cash Flow & Santa Fe Trail in Walking Distance
- Vacant Suites in 2nd Generation Condition; Most Powerful Would be New Storefront Glass
- Priced Below Replacement Cost at $214.63 PSF
- Densely Populated Submarket with Over 386,600 People in a 5-Mile Radius
Executive Summary
Elm Street Portfolio is a 29,353 SF multi building infill value add asset with significant parking located just off the Main Street corridor east of Deep Ellum entertainment and office district in Dallas, Texas.
The Property is currently 78.40% leased with net effective rent of $11.31 PSF, which are at or below market for similar assets in the immediate area. Short term tenancy allows for potential of income stream while making renovation plans. Recent leasing activity moments away has demonstrated rents from $24.00 - $29.50 PSF NNN for recently renovated spaces. The Property benefits from exceptional parking, masonry construction and potential for storefront glass conversion along Peak Street & Elm Street front of Property. The Property is priced significantly below replacement cost at just $214.63 PSF to the building.
The Property is currently 78.40% leased with net effective rent of $11.31 PSF, which are at or below market for similar assets in the immediate area. Short term tenancy allows for potential of income stream while making renovation plans. Recent leasing activity moments away has demonstrated rents from $24.00 - $29.50 PSF NNN for recently renovated spaces. The Property benefits from exceptional parking, masonry construction and potential for storefront glass conversion along Peak Street & Elm Street front of Property. The Property is priced significantly below replacement cost at just $214.63 PSF to the building.
Property Facts
| Price | $6,300,000 | Number of Properties | 6 |
| Price / SF | $231.46 / SF | Individually For Sale | 0 |
| Cap Rate | 5.27% | Total Building Size | 27,218 SF |
| Sale Type | Investment | Total Land Area | 1.19 AC |
| Status | Active |
| Price | $6,300,000 |
| Price / SF | $231.46 / SF |
| Cap Rate | 5.27% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 6 |
| Individually For Sale | 0 |
| Total Building Size | 27,218 SF |
| Total Land Area | 1.19 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 4420 Elm St, Dallas, TX 75226 | Industrial | 3,154 SF | 1922 | - |
| 4312 Elm St, Dallas, TX 75226 | Office | 5,964 SF | 1918 | - |
| 4302 Elm St S, Dallas, TX 75226 | Retail | 6,030 SF | 1925 | - |
| 115 N Carroll Ave, Dallas, TX 75226 | Retail | 4,770 SF | 1922 | - |
| 4404 Elm St, Dallas, TX 75226 | Retail | 4,000 SF | 1953 | - |
| 4314-4316 Elm St, Dallas, TX 75226 | Retail | 3,300 SF | 1918 | - |
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