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Office

Auction - One Empire | 82,518 SF | 81% Occupied | $381K NOI

1140 Empire Central Dr, Dallas, TX 75247

Starting Bid: $1,000,000

Gross SF
82,518
Rentable SF
82,518
Price/Gross SF
$12.12
Lot Size
2.69 acres
Year Built
1974
Auction Type
Reserve
Auction Start Date
Jun 24, 2024
Auction End Date
Jun 26, 2024

Investment Overview

Register to Bid and Access Due Diligence Documents on RealINSIGHT Marketplace - https://rimarketplace.com/auction/2024/

Marcus & Millichap is pleased to offer for sale the fee simple interest in the One Empire Building, a ±82,518 square foot multi-tenant office building located at 1140 Empire Central Drive in Dallas, Texas (the “Property”). The Property offers investors the opportunity for significant value add through lease up strategies or soft repositioning.

One Empire was constructed in 1974 and renovated in 2021, showcasing a contemporary design with modern finishes. The office building sits on an expansive 2.69-acre parcel and features six floors and 55 tenant suites. Currently, 81% occupied, One Empire is leased to an ideal mix of law practices, consulting groups, tax services, staffing companies, medical professionals, and more. The Property is prominently positioned approximately one mile from the Airport Freeway and the Stemmons Freeway allowing for easy accessibility for employees and guests.

There are 276,306 residents with an average household income of $105,781 within a 5-mile radius of the Property. The top three industries in the city are Professional, Scientific, and Technical Services; Health Care and Social Assistance; and Retail Trade, employing approximately 35% of the labor force. Dallas is a premier location for new investment, bolstered by strong economic growth, exceptional tax incentives, and a wealth of resources to support new and growing businesses.

Investment Highlights

  • STARTING BID $1,000,000 | 82,518 SF | 81% Occupied | $381K NOI | AUCTION JUNE 24-26, 2024
  • Six-Story, 82,518 SF Office Building Positioned on a 2.69 Acre Parcel within Prime Dallas Submarket
  • ±81% Leased; Occupied by a Strong Mix of Professional Tenants with Staggered Lease Expirations, Contractual Escalations, and Extension Options
  • Conveniently Situated Off I-35E, Three Miles to Love Field Airport, Seven Miles to Downtown Dallas, and 13 Miles to DFW International Airport.
  • Exceptional Opportunity for an Investor to Acquire an Office Asset and Add Significant Value Through Full Lease-Up at Market Rates
  • Well-Positioned in a Strong Submarket Boasting Excellent Access to Multiple Transit Modes, Including Stemmons Freeway and DART Rail Service
  • Located In a Dense Commercial Hub, Surrounded by National Brands Such as Burger King, McDonald's, La Quinta Inn & Suites, Candlewood Suites, And More
  • Positioned Within a Densely Populated Area With ±276,306 Individuals with An AHHI Of ±$105,781 In A Five-Mile Radius

Exclusively Listed By

Auction Advisors

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s) TX: 9002994

    Texas

Financing By

Office

Auction - One Empire | 82,518 SF | 81% Occupied | $381K NOI

Starting Bid: $1,000,000

Gross SF
82,518
Rentable SF
82,518
Price/Gross SF
$12.12
Lot Size
2.69 acres
Year Built
1974
Auction Type
Reserve
Auction Start Date
Jun 24, 2024
Auction End Date
Jun 26, 2024

Investment Highlights

  • STARTING BID $1,000,000 | 82,518 SF | 81% Occupied | $381K NOI | AUCTION JUNE 24-26, 2024
  • Six-Story, 82,518 SF Office Building Positioned on a 2.69 Acre Parcel within Prime Dallas Submarket
  • ±81% Leased; Occupied by a Strong Mix of Professional Tenants with Staggered Lease Expirations, Contractual Escalations, and Extension Options
  • Conveniently Situated Off I-35E, Three Miles to Love Field Airport, Seven Miles to Downtown Dallas, and 13 Miles to DFW International Airport.
  • Exceptional Opportunity for an Investor to Acquire an Office Asset and Add Significant Value Through Full Lease-Up at Market Rates
  • Well-Positioned in a Strong Submarket Boasting Excellent Access to Multiple Transit Modes, Including Stemmons Freeway and DART Rail Service
  • Located In a Dense Commercial Hub, Surrounded by National Brands Such as Burger King, McDonald's, La Quinta Inn & Suites, Candlewood Suites, And More
  • Positioned Within a Densely Populated Area With ±276,306 Individuals with An AHHI Of ±$105,781 In A Five-Mile Radius

Investment Overview

Register to Bid and Access Due Diligence Documents on RealINSIGHT Marketplace - https://rimarketplace.com/auction/2024/ Marcus & Millichap is pleased to offer for sale the fee simple interest in the One Empire Building, a ±82,518 square foot multi-tenant office building located at 1140 Empire Central Drive in Dallas, Texas (the “Property”). The Property offers investors the opportunity for significant value add through lease up strategies or soft repositioning. One Empire was constructed in 1974 and renovated in 2021, showcasing a contemporary design with modern finishes. The office building sits on an expansive 2.69-acre parcel and features six floors and 55 tenant suites. Currently, 81% occupied, One Empire is leased to an ideal mix of law practices, consulting groups, tax services, staffing companies, medical professionals, and more. The Property is prominently positioned approximately one mile from the Airport Freeway and the Stemmons Freeway allowing for easy accessibility for employees and guests. There are 276,306 residents with an average household income of $105,781 within a 5-mile radius of the Property. The top three industries in the city are Professional, Scientific, and Technical Services; Health Care and Social Assistance; and Retail Trade, employing approximately 35% of the labor force. Dallas is a premier location for new investment, bolstered by strong economic growth, exceptional tax incentives, and a wealth of resources to support new and growing businesses.

Exclusively Listed By

Auction Advisors

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s): TX: 9002994

    Texas

Financing By

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