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Vacant-User

The Oakwood Building

3508 Greenville Ave, Dallas, TX 75206

Listing Price: Request For Offer

Gross SF
7,955
Rentable SF
7,955
Lot Size
0.25 acres
Year Built
1957

Investment Overview

Marcus & Millichap is pleased to present The Oakwood Building, a 7,955-square-foot, newly renovated, Class A asset located at 3508 Greenville Avenue in the heart of the Lower Greenville submarket of Dallas, Texas. The subject property was fully remodeled in 2021 and features over $2 million worth of recent improvements, including a new HVAC and roof. This rare Class A asset features a long-term leaseback by the current owner, offering stable cash flow with increases over the next 10 years, and a five-year option at market rent. The 10-year lease is absolute triple-net, meaning zero landlord responsibilities. The subject property is built for up to 40 individuals to office, including 10 traditional office suites, a bullpen that seats 26 people, two executive assistant desks, and two executive office suites that join to a shared executive office lounge, as well as two conference rooms and a break room. The entire building is features video security monitoring and keyless electronic entry. The parking lot features an electronic gate and has been recently paved and striped with 18 surface parking spaces. The subject property also features 26 delta credits, for a total parking count of 44 spaces. The Lower Greenville submarket of Dallas is best known as a combination of one of Dallas’ most popular entertainment districts and an affluent residential neighborhoods. In Lower Greenville, residents can enjoy several attractions including bars, restaurants, shops, and grocery stores all within walking distance to their homes. With a strong mix of internet resistant tenants, retail continues to thrive in this market. Contributing to this local market, he total average retail expenditure within a one-mile radius of the subject property exceeds $89,000. In addition to this, the average household income exceeds $156,000 and average home value exceeds $500,000 within a one-mile radius of the subject property. Greenville Avenue is also host to the city of Dallas’ largest St. Patrick’s Day parade, celebrating its 40th year in 2019. The two-mile route passes by the subject property, featuring over 125,000 attendees, 90 parade floats, and 1,700 parade participants. Overall, the subject property provides a new investor a stabilized investment opportunity in the highly desirable Lower Greenville submarket of Dallas with zero landlord responsibilities. The Oakwood Building is a Class A asset that is strongly positioned in a prime location, surrounded by numerous internet resistant retail tenants, all within walking distance. The stabilized investment opportunity provides consistent income for several years to come in one of Dallas' most affluent urban submarkets.

Investment Highlights

  • Newly Renovated 7,955-SF Class A Asset | Prime Lower Greenville Location | Proximate to Grenada Theater & Major Dallas Attractions
  • 10-Year Absolute NNN Leaseback | 3% Rental Escalations in Year 3 & 7 | One 5-Year Option at Market Rent
  • Newly Surfaced Gated Parking Lot | 18 Surface Parking Spaces | Delta Credits Included for Suitable Parking
  • Affluent Demographic Submarket | Average HH Income Exceeds $156,000 in One-Mile Radius

Exclusively Listed By

Financing By

Vacant-User

The Oakwood Building

Listing Price: Request For Offer

Gross SF
7,955
Rentable SF
7,955
Lot Size
0.25 acres
Year Built
1957

Investment Highlights

  • Newly Renovated 7,955-SF Class A Asset | Prime Lower Greenville Location | Proximate to Grenada Theater & Major Dallas Attractions
  • 10-Year Absolute NNN Leaseback | 3% Rental Escalations in Year 3 & 7 | One 5-Year Option at Market Rent
  • Newly Surfaced Gated Parking Lot | 18 Surface Parking Spaces | Delta Credits Included for Suitable Parking
  • Affluent Demographic Submarket | Average HH Income Exceeds $156,000 in One-Mile Radius

Investment Overview

Marcus & Millichap is pleased to present The Oakwood Building, a 7,955-square-foot, newly renovated, Class A asset located at 3508 Greenville Avenue in the heart of the Lower Greenville submarket of Dallas, Texas. The subject property was fully remodeled in 2021 and features over $2 million worth of recent improvements, including a new HVAC and roof. This rare Class A asset features a long-term leaseback by the current owner, offering stable cash flow with increases over the next 10 years, and a five-year option at market rent. The 10-year lease is absolute triple-net, meaning zero landlord responsibilities. The subject property is built for up to 40 individuals to office, including 10 traditional office suites, a bullpen that seats 26 people, two executive assistant desks, and two executive office suites that join to a shared executive office lounge, as well as two conference rooms and a break room. The entire building is features video security monitoring and keyless electronic entry. The parking lot features an electronic gate and has been recently paved and striped with 18 surface parking spaces. The subject property also features 26 delta credits, for a total parking count of 44 spaces. The Lower Greenville submarket of Dallas is best known as a combination of one of Dallas’ most popular entertainment districts and an affluent residential neighborhoods. In Lower Greenville, residents can enjoy several attractions including bars, restaurants, shops, and grocery stores all within walking distance to their homes. With a strong mix of internet resistant tenants, retail continues to thrive in this market. Contributing to this local market, he total average retail expenditure within a one-mile radius of the subject property exceeds $89,000. In addition to this, the average household income exceeds $156,000 and average home value exceeds $500,000 within a one-mile radius of the subject property. Greenville Avenue is also host to the city of Dallas’ largest St. Patrick’s Day parade, celebrating its 40th year in 2019. The two-mile route passes by the subject property, featuring over 125,000 attendees, 90 parade floats, and 1,700 parade participants. Overall, the subject property provides a new investor a stabilized investment opportunity in the highly desirable Lower Greenville submarket of Dallas with zero landlord responsibilities. The Oakwood Building is a Class A asset that is strongly positioned in a prime location, surrounded by numerous internet resistant retail tenants, all within walking distance. The stabilized investment opportunity provides consistent income for several years to come in one of Dallas' most affluent urban submarkets.

Exclusively Listed By

Financing By

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