Available for Sale or Lease

Price not disclosed

4211 GASTON AVE, DALLAS, TX 75246

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CONTACT

Ty Underwood

SLJ Company, LLC

(214) 520-8818 ext. 4

PROPERTY INFORMATION

Price: Call for pricing information

Lot Size: 23,356 Square Feet

Property Type: Multifamily

Zoning: Planned Development

Building Size: 5,300± Square Feet

Property Sub-Type: Retail (Land)

HIGHLIGHTS

  • Recently renovated 4-unit condo complex 

  • 10,500± square foot infill pad site with liberal zoning that allows retail, restaurant, office, bank and multifamily uses

  • Just minutes from Downtown Dallas, Baylor University Medical Center, Deep Ellum, and Dallas' Uptown and East Dallas neighborhoods

  • Population of approximately 25,406 and 160,463 living within a 1 and 3 mile radii respectively

  • Retailers in close proximity to the Property include Aldi, Sam’s Club, CVS Pharmacy, Walmart Neighborhood Market, Target, OfficeMax, Ross and Starbucks, among many others

PROPERTY DESCRIPTION

SLJ Company, LLC (“SLJ”) has been exclusively retained to offer this vacant 4-Unit condo complex and adjacent 10,500± square foot infill pad site on Gaston Ave.  Located just east of Central Expy (Hwy 75), the Property enjoys a rapidly redeveloping infill location, improving demographics and easy access to Downtown Dallas, Uptown and Knox/Henderson.

 

The subject property consists of approximately 23,356 square feet of land improved with a two story building, located at the rear of the property, having a footprint of approximately 5,300 square feet (60.3 feet deep by approximately 87.9 feet wide). The building is currently configured as four (4) individual units, each containing 1,300+/- square feet of space on the first floor, 2 bedrooms, 2 bathrooms, and 450+/- square feet of second floor living space. The upstairs space could be used as office and/or additional storage.

 

Although the building was originally designed as loft condominiums, it can easily and economically ($12,000+/-) be converted to retail/office use by removing the four existing, double garage doors on the front of each unit, and replacing them with storefronts, resulting in four rental spaces, each containing approximately 1,750 square feet. Assuming that the building was so converted and rented for $20 per square foot, NNN, based, it would generate Net Operating Income of approximately $140,000  per year.

 

In addition to the foregoing, there is an existing 10,500± square foot pad site on the front of the property, which is augmented by existing drives and parking. Depending upon use, this pad site could accommodate between 3,500 and 4,000 square feet of additional retail/office space, or could be sold or ground leased.

 

LOCATION

The subject property is located at 4211 Gaston Ave, between N Peak St and N Haskell Ave, in Dallas, Texas 75246.

 

BUILDING AREA

Building Size:  5,632 SF

Unit 1:   2 bed/2 bath - 1,420 SF 

Unit 2:   2 bed/2 bath - 1,160 SF

Unit 3:   2 bed/2 bath - 1,106 SF 

Unit 4:   2 bed/2 bath - 1,069 SF

 

YEAR BUILT

2005

 

PARKING

Each unit has its own attached 2-car garage

 

LAND AREA

Total Land Area:  Approximatelty 0.536 Acres (23,356 Square Feet)

Pad Site Area:  Approximately 0.244 Acres (10,638 Square Feet)

 

LOT DIMENSIONS

Total Lot Dimensions:   Approximately 92.5’ of frontage x 252.5’ of depth

Pad Site Dimensions:   Approximately 67.8’ of frontage x 156.9’ of depth

 

TRAFFIC COUNTS

Gaston Ave:   21,027 VPD (2012)

N Haskell Ave:   15,350 VPD (2012)

N Peak St:   9,590 VPD (2009)

 

ZONING

PD 298 (Subarea 13)

Maximum Height:   54’

Maximum Floor Area Ratio:   2:1

Maximum Lot Coverage:   90%

Primary Uses:   Multifamily, Retail, Restaurant, Office and Hotel uses

 

MINERALS

None