4478 Marsalis AveDallas, TX 75216

For Sale
$2,700,000

Dallas retail center, value-add opportunity.

Overview

Added:
Dec 11, 2024
Days on market:
94
This 93,351 square foot, multi-tenant retail shopping center presents a compelling value-add investment opportunity in Dallas, Texas. Located at 4478 S. Marsalis Ave, this fee-simple property boasts a 4.96-acre lot and comprises four single-story buildings, totaling 20 units. The center features a mix of tenants, including a Family Dollar, and offers significant upside potential through strategic property management and capital improvements. Built in 1954 with renovations completed in 2019-2020 (two units), the property includes 58,693 net rentable square feet and currently operates at 80% occupancy. The asking price is $2,700,000, representing a pro-forma cap rate of 9.76% and a pro-forma NOI of $263,434. The property benefits from excellent access to Interstate 35 and is conveniently located just twelve minutes from Downtown Dallas. Key features include a substantial asphalt parking lot, concrete and brick masonry construction with tilt walls and slab foundations, individual HVAC systems, and sub-metered utilities (electricity and water). Several month-to-month leases exist at below-market rates, presenting an immediate opportunity to increase revenue. The permitted zoning is commercial, and the APN is 00000482674000100. This established neighborhood center offers a strong foundation for growth and significant returns.

Highlights

  • 93,351 square foot multi-tenant retail center in Dallas, TX, offering a value-add investment opportunity.
  • Located at 4478 S. Marsalis Ave, on a 4.96-acre lot, twelve minutes from Downtown Dallas.
  • 58,693 square feet of net rentable space in four single-story buildings with 20 units, currently 80% occupied.
  • Significant upside potential through lease renegotiation and capital improvements, with several below-market month-to-month leases.
  • Asking price: $2,700,000, with a pro-forma cap rate of 9.76% and NOI of $263,434.

Property Details for 4478 Marsalis Ave

Property type
Lifestyle centers, Power centers
Square Feet
93,351 SF
Class
C
Year Built/Renovated
1954/2019
Buildings
4
Stories
1
Lot Size (sq. ft)
216,058 SF
Units
20

Location Insight

City
Dallas
County
Dallas
State
Texas
Latitude
32.690497446961
Longitude
-96.813763448346
4478 Marsalis Ave, Dallas, Texas

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4478 Marsalis Ave
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