4211 Gaston AveDallas, TX 75246

This exceptional investment opportunity presents a 4-unit condo complex and a substantial adjacent pad site totaling approximately 23,356 square feet in Dallas, Texas. The two-story, 5,300 square foot building, constructed in 2005, currently features four 2-bedroom, 2-bathroom units, each with a two-car garage. Each unit offers approximately 1,300 square feet on the first floor and an additional 450 square feet upstairs, adaptable for office or storage. The building's design allows for a cost-effective conversion to retail or office space, estimated at approximately $12,000, by replacing existing garage doors with storefronts, creating four approximately 1,750 square foot rental spaces. A potential net operating income of approximately $140,000 annually is projected based on a $20 per square foot, NNN lease rate. The property's prime location on Gaston Avenue, between N Peak St and N Haskell Ave, boasts high traffic counts (approximately 22,050 vehicles daily on Gaston Ave and 9,201 on N Peak St), excellent visibility, and easy access to major thoroughfares including US Hwy 75, I-45, I-30, and SH 78. The substantial 10,500 square foot pad site offers further development potential, accommodating approximately 3,500 to 4,000 square feet of additional retail or office space, or suitable for sale or ground lease. The property benefits from a PD 298 (Subarea 13) zoning designation, permitting various uses including retail, restaurant, hotel, office, bank, and multifamily. The surrounding area exhibits strong demographics, with a 25.3% population growth within a 1-mile radius from 2010-2021 and an average household income of $110,235 within a 3-mile radius. This property is ideally situated near Downtown Dallas, Baylor University Medical Center, Deep Ellum, and Uptown and East Dallas neighborhoods. The property's location within a rapidly redeveloping area, coupled with its versatile configuration and significant pad site, presents a compelling investment opportunity.