616 5Th StGarland, TX 75040

Property Details for 616 5Th St

Year built

1974

Construction

TILT-UP CONCRETE

Lot size

0.49 AC

Property size (Sq ft)

12,540 SF

Zone code

Z109

Property type

Showrooms

APN

26105500040030000

APU

26105500040030000

Description

This exceptional 12,540-square-foot flex space presents a rare investment opportunity in Garland, Texas, a highly desirable infill location within the Dallas-Fort Worth metroplex. Situated on a 0.48-acre lot at 616 N 5th St, 75040, this property boasts convenient access to Highway 78 via Walnut Street, placing it within easy reach of a major transportation artery. Built in 1974, the building features a two-suite design, easily adaptable for single-tenant occupancy through retrofitting. The asking price of $1,880,000 translates to a price per square foot of $150, significantly below replacement cost, making this an attractive proposition for both investors and owner-occupiers. The property benefits from a strong location, surrounded by numerous synergistic industrial buildings and serving a population exceeding 1,100,000 within a 10-mile radius. A recently installed sprinkler system ensures compliance with modern building codes, eliminating potential upgrade expenses. Currently vacant, this property offers the perfect opportunity to capture market rent rates or establish a thriving business in a prime location. The property is located between N First St and Glenbook Dr, just north of Walnut St.

• CAP approach

  CAP return

  Valuation

  6%

  $3,414,820

  6.5%

  $3,152,141

  7%

  $2,926,988

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,888,334

  Geo Method

  $3,802,208

• Alternative Use

  Use

  Valuation

  Residential

  $2,658,949

  Hospitality

  $2,435,583

  Educational

  $2,026,376

  Medical

  $2,096,066

  Retail

  $3,152,141

Location Insight

City

Garland

County

Dallas

State

Texas

Latitude

32.9198

Longitude

-96.6357

CBSA code

19100

CBSA name

DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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