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Value-Add Office Near I-35E and Love Field 8267 Elmbrook Dr

45,000 SF 100% Leased Office Building Online Auction Sale Dallas, TX 75247

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Virtual Tour

Investment Highlights

  • 45,000-SF Class B office, 100% occupied through January 2025, has undergone extensive recent capital improvements, ideal for a new user or investor.
  • Near operations for medical and government tenants, including the FBI, DEA, Dallas County Government, UT Southwestern, and Parkland Hospital.
  • Property will be occupied by the current owner until January 31st 2025, with 6,911 SF on the first floor leased separately through 2029.
  • Situated at W Mockingbird Lane and I-35E, the office is accessible to the greater DFW via Highways 183 and 114 and the Love Field and DFW airports.
  • Supported by a well-educated workforce pipeline, including a 5-mile population of more than 304,000 and daytime employment of 357,000.

Executive Summary

MedCore Partners is pleased to exclusively offer for sale 8267 Elmbrook Drive, a two-story, 45,000-square-foot administrative service and general commercial office. Featuring extensive renovations, this property offers prime, move-in-ready real estate for an owner/user or for a fantastic value-add investment opportunity.

Initially built in 1970, 8267 Elmbrook Drive underwent full renovations in 2019 and 2022, currently providing a wealth of modern features and updated interiors. Offices are segmented into versatile private and collaborative spaces surrounding a broad, open layout space equipped for a high number of workstations. The office’s bright lobby includes a sitting area and a full reception desk, while a large breakroom provides a complete kitchen and abundant seating. The office is situated on a 2.12-acre commercially zoned parcel with multiple points of ingress and a 3.30 parking ratio for a total of 175 surface spaces.
8267 Elmbrook Drive allows a new owner to collect in-place income while growing into this beautiful space. The property has been the home of the current owner's businesses for many years. The businesses have outgrown the space and will be moving out on January 31st, 2025. The new owner will be paid for a full month. This move opens up 32,771 square feet that can be immediately occupied in February 2025. The remaining tenant occupies 6,911 square feet on the first floor through December 2029. The lease includes an early termination clause which can allow a new owner to occupy the full property.

Access to major DFW destinations and quality urban amenities enhance 8267 Elmbrook Drive’s first-rate location. The office is ideally located at W Mockingbird Lane and Stemmons Freeway (35E), close to downtown and uptown Dallas and the central business districts. The convenient location provides easy access to/from Dallas Love Field Airport and Highways 183 and 114, with connections to the DFW International Airport. It sits less than a mile from the Harry Hines Boulevard commercial corridor, which hosts numerous influential medical and government tenants, including the FBI, DEA, Dallas County Government, UT Southwestern, and Parkland Hospital. The surrounding area is well-supported by dozens of national retail brands, popular local restaurants, major flag hotels, and recreation opportunities such as the Brook Hollow and Irving Golf Clubs.

Sitting approximately 7 miles northwest of Downtown Dallas, the Love Field/West Denver neighborhood is a vibrant destination perfectly suited to growing corporate tenants. The area comprises a dense series of industrial operations, corporate offices, and quality residential neighborhoods bridging both sides of the Trinity River. Easy access to the region's principal arterials and critical job centers has made the neighborhood a popular destination for commuting professionals. Within 5 miles of 8267 Elmbrook Drive, the population of more than 304,000 has grown by almost 5% since 2020, delivering a daytime employment of over 357,000. Residents are well educated, with 46% carrying bachelor’s degrees or higher and over 87% working in service-producing industries. New businesses at the property can leverage this exceptional workforce pipeline to quickly secure qualified new talent to grow their operations.

Data Room Click Here to Access

Market Analytics Click Here to Access

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Market Sale Price per SF

Dallas-Fort Worth - TX USA

Market Cap Rate

Dallas-Fort Worth - TX USA

Market Sale Price per SF by Star Rating

1 - 2 Star

3 Star

4 - 5 Star

Market Cap Rate by Star Rating

1 - 2 Star

3 Star

4 - 5 Star

Market Sale Price per SF Distribution

Market Cap Rate Distribution

Property Facts

Sale Type
Investment
Sale Condition
Auction Sale
Property Type
Office
Building Size
45,000 SF
Building Class
B
Year Built/Renovated
1970/2022
NOI
$488,869
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
27,500 SF
Building FAR
0.49
Land Acres
2.12 AC
Zoning
MU3
Parking
175 Spaces (3.3 Spaces per 1,000 SF Leased)

DEMOGRAPHICS

Demographics

1 Mile 1 Mi. 3 Miles 3 Mi. 5 Miles 5 Mi.
1 Mile
3 Mile
5 Mile
2024 Population
4,651
73,801
304,003
2020 Population
4,970
70,582
289,339
2029 Population
4,569
74,102
305,558
2024-2029 Projected Population Growth
-1.8%
0.4%
0.5%
Daytime Employees
21,881
120,719
357,468
Total Businesses
2,146
12,129
34,078
Average Household Income
$60,905
$73,108
$108,839
Median Household Income
$39,071
$52,874
$73,752
Total Consumer Spending
$40.5M
$762M
$4.2B
Median Age
34.6
34.1
34.4
2024 Households
1,748
31,048
136,758
Percent College Degree or Above
7%
18%
27%
Average Home Value
$242,016
$407,024
$548,622

zoning

Zoning Code MU3
MU3

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
00000778556120000
Land Assessment
$600,250
Improvements Assessment
$2,661,240
Total Assessment
$3,261,490

Sale Advisor

Sale Advisor

(214) 443-8300 x140
Contact
Kyle Libby, Partner
(214) 443-8300 x140
Contact
Kyle Libby founded MedCore Realty, LLC in April of 2011 which has since become MedCore Partners (MedCore). Within MedCore, Mr. Libby is responsible for new business development, client relationship management, and operations.
As a medical real estate specialist, Mr. Libby has represented hospital systems, REIT’s, healthcare operating companies, and more than 1,200 physicians for all their real estate needs, including but not limited to acquisitions, dispositions, development, tenant and landlord representation, construction management, and feasibility studies. Mr. Libby has successfully marketed, leased, acquired, and/or developed over 100 medical office buildings totaling over 5,000,000 square feet throughout California, Utah, Nevada, New Mexico, Oklahoma, Texas, Louisiana, and Missouri.
Prior to MedCore Realty, Mr. Libby was Vice President of Leasing and a member of the national Healthcare Advisory Group for PM Realty Group (PMRG), where he lead business development and leasing transactions for both PMRG’s medical portfolio and the company’s third-party clientele in North Texas, Oklahoma and Missouri.
Before his contributions to PMRG, Mr. Libby was a Senior Leasing Associate with The Cirrus Group where he lead two associates and the marketing and leasing of a 1,000,000 square foot portfolio for one of the nation’s largest REIT’s throughout California, Utah, Nevada, Oklahoma, and Texas.
D CEO Magazine has named Mr. Libby a Power Broker in 2021, 2020, 2019,2018, 2017, and 2011 recognizing his production within Dallas/Fort Worth medical real estate market. In 2009, Black’s Guide named him in its Top 35 Under 35 list. Within the same year, Mr. Libby was recognized as PMRG’s Top Producer for Dallas/Fort Worth Market. In addition, Mr. Libby was the Top Producer with The Cirrus Group in 2006 & 2005.
Mr. Libby holds a Bachelor of Science degree from Texas Tech University. He is a licensed Real Estate Broker in the state of Texas and is a member of several real estate organizations

About the Auction Platform

Ten-X Commercial is the leading end-to-end digital transaction platform for commercial real estate. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
Read More

Auction Contact

Amen Almukhtar
Auctioneer License: Ten-X Commercial, LLC Todd Siegel RE Brkr 9004662
  • Listing ID: 33627027

  • Date on Market: 11/4/2024

  • Last Updated:

  • Address: 8267 Elmbrook Dr, Dallas, TX 75247

Transaction Fee Schedule
Based on Percentage of Winning Bid Amount.
Winning Bid Amount Transaction Fee
$0m to < $1m 5.00% ($20,000 min)
$1m to < $3m 3.00%
$3m to < $5m 2.50%
$5m to < $10m 2.25%
$10m to < $15m 2.00%
$15m to < $25m 1.75%
$25m to < $35m 1.50%
$35M to < $45M 1.00%
$45M to < $55M 0.75%
$55M and Up 0.50%
Example Calculation
Winning Bid Amount $4,000,000 Transaction Fee $100,000 (2.5%) Total Purchase Price $4,100,000

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