SoldPrice cut −11%
$11,695,000
7.5% cap · 33,410 sq ft RBA · Class C
857 Cedar Springs Rd
Dallas, TX 75219
Listed 4 months ago$350/sq ft
01 / 07
For SaleOffice
$11,005,000
6885 N Bishop Ave
Lakewood · Dallas, TX 75225
$262/sq ft32 days on market1.5K views100 saves
Key facts
- Interior
- 42,050 sq ft
- Lot
- 1.44 acres
- Year built
- 1965
- Property type
- Office
- Price / sq ft
- $262/sq ft
- Annual taxes
- $191,490
- Days on market
- 32
Getting around
Walk Score54
Somewhat Walkable
Transit Score36
Some Transit
Bike Score52
Bikeable
About this property
Built in 1965 and capitalized properly since, this office building needs no immediate capital. Bike Room & Showers is the differentiator in this submarket — very little competing product has it. Debt is assumable at a below-market coupon for a qualified buyer.
Investment summary
Investment summary
Cap rate
8.90%
Net operating income ÷ price
Net operating income
$979,445
Annual, after operating expenses
Cash-on-cash
+10.3%
$340,753 annual cash flow on $3,301,500 equity
Occupancy78%
32,799 sq ft leased of 42,050 sq ft
- Tenants
- 5
- Rentable area
- 42,050 sq ft
- Price / sq ft
- $262/sq ft
- WALE
- 9.3 yrs
- Lease type
- Modified Gross
- Building class
- Class C
- Zoning
- CS-1
- Parking
- 167 spaces
Cash-on-cash assumes 30% equity, a 6.75% fixed rate and 25-year amortisation — $638,692 of annual debt service. Illustrative only; underwrite with the actual rent roll and operating statements.
Features & amenities
Features & finishes
Interior
- Bike Room & Showers
Systems & Efficiency
- Dedicated HVAC
- Sprinkler System
Parking & Access
- Freight Elevator
Highlights
- Fiber Connectivity
- NNN Leases in Place
- 24/7 Card Access
- Below-Market Rents
- Value-Add Upside
Price history
Every listing event recorded for this property.
- Listed
- Sold
| Date | Event | Price |
|---|---|---|
| 2017-03-19 | Sold | $7,878,000 |
| 2026-06-23 | Listed | $11,005,000 |
Location
Lakewood, Dallas — Dallas County
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Approximate location · Lakewood
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Estimated monthly
$74,237/mo
- Principal & interest74%$55,070
- Property tax21%$15,958
- Home insurance4%$3,210
An estimate, not a quote. Insurance is seeded at 0.35% of the purchase price and excludes mortgage insurance, which most lenders require below 20% down.
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Loan amount $8,804,000 · 30 yr · 6.40%
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