Investment Overview

Marcus & Millichap is pleased to exclusively present for sale 3203 McKinney Avenue, a 13,265-square-foot, mixed-use asset located in the heart of Uptown Dallas, Texas. The offering features a mix of creative offer/retail on the first floor and two multi-story upscale residential penthouse units on the second and third floors. The subject property is situated on 0.2 acres on the signalized hard corner of Bowen Street and McKinney Avenue. The highly desirable McKinney Avenue is the main artery passing through the rapidly growing and in-demand Uptown neighborhood. This subject property is surrounded by new office, multifamily, retail, and hotel developments, and boasts an average household income exceeding $141,000 within a one-mile radius. The subject property offers an exceedingly rare opportunity to acquire a well-located asset in one of Dallas-Fort Worth's strongest submarkets, with a remarkably high barrier-to-entry. Uptown Dallas has quickly developed into an exceedingly sought-after district that encapsulates the ideal live/work/play lifestyle in North Texas. The appeal of this submarket stems from the convergence of business executives and young professionals, placing Uptown as the most attractive demographic profile in Dallas. Within a square mile, Uptown Dallas accommodates a thriving community of 44,000 residents, a number that swells to over 94,000 during the bustling daytime hours. The subject property is also strongly positioned among several large-scale vertical developments surrounding McKinney Avenue, driving new tenants and increased rents in the immediate area. The rapidly evolving Dallas-Fort Worth metroplex, has been widely known as the United States' fastest-growing region in 2022. This dynamic area has witnessed a substantial population growth driven by massive corporate relocations and the abundance of Fortune 500 employers. In fact, Dallas-Fort Worth has garnered recognition from the U.S. Bureau of Labor Statistics as one of the leading metropolitan areas in the country for business expansions, relocations, and employment growth. Overall, 3203 McKinney offers a new investor or owner/user the rare opportunity to acquire a trophy asset in the heart of Uptown Dallas. The subject property features 13,265 rentable square feet spread across three floors and includes a below-grade parking garage, with 5,289 square feet dedicated to retail and office use, and 7,436 square feet dedicated to upscale residential use. This variety of uses allows for flexibility in lease-up of the asset, whether it be a live/work accommodation, or an attractive investment opportunity in a submarket that boasts some of the highest rents in the Metroplex for retail, office, and residential. The subject property is zoned PD 193, which allows for a multitude of commercial and residential uses as well.