4312 Elm Street 4312 Elm St
8,028 SF 100% Leased Office Building Dallas, TX 75226 $1,576,586 CAD ($196.39 CAD/SF)
INVESTMENT HIGHLIGHTS
- Priced Well Below Replacement Cost at $137.02 PSF
- 9.12% Pro Forma Cap Rate at List Price Contemplates Lease Up at $12.50 PSF NNN
- Tower 22 District; Emerging Creative District Positioned where Santa Fe Trail Meets Deep Ellum
- Recent Leasing Activity Moments Away from $12.00 to $17.00 PSF NNN
- Complete Streets Project Anticipated Start in Summer 2025 (Enhanced Pedestrian & Modal Experience)
- Total Daytime Population Exceeds 544,400 People in 5-Mile Radius
EXECUTIVE SUMMARY
4312 Elm Street is an infill value-add investment in the East Dallas Submarket between Lakewood and the Deep Ellum entertainment and office district in Dallas, Texas. The Property is situated adjacent to Main Street corridor, within the Tower 22 District, minutes from Downtown Dallas on Elm Street. 4312 Elm Street is an 8,028 SF masonry construction asset consisting of a turn-key 4,764 SF ground floor suite with creative office/retail potential and a 3,264 SF second floor space with direct access to Elm Street. The Property benefits from masonry construction, excellent visibility on Elm Street, a highly relevant courtyard featuring exposed brick and pergola and two car garage. Recent submarket leasing activity has demonstrated rents from $12.00 to $17.00 PSF NNN for turnkey or recently renovated retail and office space. The Property is priced well below replacement cost at just $137.02 PSF to the building. Pro forma estimates contemplate achieving a 9.12% cap rate at list price by renovating the existing second floor and leasing up both suites at $12.50 PSF NNN.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Property Subtype
Building Size
8,028 SF
Building Class
B
Year Built/Renovated
1918/1999
Price
$1,576,586 CAD
Price Per SF
$196.39 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
4,014 SF
Building FAR
1.42
Lot Size
0.13 AC
Zoning
CS - Commercial
Parking
2 Spaces (0.25 Spaces per 1,000 SF Leased)
1 of 1
Walk Score®
Very Walkable (72)
Bike Score®
Very Bikeable (81)
PROPERTY TAXES
| Parcel Number | 00000126619000000 | Improvements Assessment | $1,142,555 CAD |
| Land Assessment | $119,382 CAD | Total Assessment | $1,261,938 CAD |
