3023 Commerce StDallas, TX 75226

Property Details for 3023 Commerce St

Year built

1947

Construction

TILT-UP CONCRETE

Lot size

0.56 AC

Property size (Sq ft)

5,700 SF

Zone code

Z239

Property type

Office buildings

APN

129400000000

APU

129400000000

Description

This exceptional commercial property, located at 3023 Commerce St, Dallas, TX 75226, presents a unique investment opportunity. The site encompasses a substantial area, with potential square footage ranging from 13,010 to 25,265 square feet. Currently zoned PD 269, this property is designated for retail use and land development. The planned development is ambitious, envisioning a 17-story tower. The design incorporates a four-story parking garage, supporting 13 floors of residential apartments above. This mixed-use project, situated in the vibrant Deep Ellum area, is a 192-unit development. Construction has already begun, with the anticipated delivery of the initial units slated for mid-2024. The project's planned commencement date was the end of 2022. This property offers significant potential for investors seeking a high-impact development in a rapidly growing Dallas neighborhood. The substantial size and strategic location make this a compelling investment prospect with strong future growth potential. The property's retail zoning and the planned residential component create a synergistic development opportunity. Detailed plans and specifications are available upon request. This is a rare chance to acquire a significant piece of Dallas real estate with a clear vision for the future.

• CAP approach

  CAP return

  Valuation

  6%

  $984,087

  6.5%

  $908,388

  7%

  $843,503

• Comparable approach

  Method

  Valuation

  Relative Method

  $667,230

  Geo Method

  $1,706,523

• Alternative Use

  Use

  Valuation

  Residential

  $1,126,401

  Hospitality

  $1,031,778

  Educational

  $858,427

  Medical

  $887,949

  Retail

  $1,335,331

Location Insight

City

Dallas

County

Dallas

State

Texas

Latitude

32.7843

Longitude

-96.7794

CBSA code

19100

CBSA name

DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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