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2337 Doreen St - 8%+ Cap Rate for Industrial Development 1.99 Acres of Industrial Land Offered at $999,000 in Grand Prairie, TX 75050
INVESTMENT HIGHLIGHTS
- 2337 Doreen Street is a 2-acre tract, fully entitled and approved by the City of Grand Prairie for two 17,000-square-foot industrial flex buildings.
- Demand is already established as the seller has more than 200 leads for spaces from 2K to 3.5K SF and GC bids for a build spread of over $1.7 million.
- See the Data Room for the Development Packet, including a geotechnical report, topo survey, civil and architectural drawings, and approval letters.
- Approved development ideally positioned to real estate trends as the median leased space in the submarket is approximately 10,000 square feet.
- Superior connectivity within five minutes of Interstate 30, George Bush Turnpike, Highway 180, and Highway 360.
EXECUTIVE SUMMARY
Get to work right away with this fully entitled industrial development tract ready for immediate construction.
2337 Doreen Street is approximately 2 acres and has been approved by the City of Grand Prairie for two 17,000-square-foot industrial flex warehouse buildings. A full Development Packet is completed for the land, which includes a geotechnical report, topography survey, civil drawings, architectural drawings, and Grand Prairie approval letters. These documents are available in the Data Room.
This property can be set up as a build-to-rent or owner-occupied building. The seller has over 200 leads interested in 2,000- to 3,500-square-foot spaces for this exact building if the new owner desires to rent and hold the space. Bids from local general contractors signaled a substantial build spread of over $1.7 million.
Situated in the Lower Great Southwest submarket, 2337 Doreen Street is in one of the most sought-after industrial hubs in the DFW metro. Due to the superior transport connectivity, high-profile institutions such as General Motors, Lockheed Martin, Geodis, and The Home Depot have large industrial presences here, but typical tenants in the submarket utilize space closer to the approved warehouses. Submarket trends paint an optimistic outlook for appreciation; as of Q1 2025, annual rent growth was at 4%, with an average vacancy rate of 1.8% lower than the overall DFW market. Builds at 2337 Doreen Street will be able to leverage the submarket’s excellent connectivity advantages with three major arteries within a five-minute drive. Tenants will be tapped into an excellent labor pool, with nearly 50% of the workers within a 3-mile radius employed in blue-collar industries.
2337 Doreen Street is approximately 2 acres and has been approved by the City of Grand Prairie for two 17,000-square-foot industrial flex warehouse buildings. A full Development Packet is completed for the land, which includes a geotechnical report, topography survey, civil drawings, architectural drawings, and Grand Prairie approval letters. These documents are available in the Data Room.
This property can be set up as a build-to-rent or owner-occupied building. The seller has over 200 leads interested in 2,000- to 3,500-square-foot spaces for this exact building if the new owner desires to rent and hold the space. Bids from local general contractors signaled a substantial build spread of over $1.7 million.
Situated in the Lower Great Southwest submarket, 2337 Doreen Street is in one of the most sought-after industrial hubs in the DFW metro. Due to the superior transport connectivity, high-profile institutions such as General Motors, Lockheed Martin, Geodis, and The Home Depot have large industrial presences here, but typical tenants in the submarket utilize space closer to the approved warehouses. Submarket trends paint an optimistic outlook for appreciation; as of Q1 2025, annual rent growth was at 4%, with an average vacancy rate of 1.8% lower than the overall DFW market. Builds at 2337 Doreen Street will be able to leverage the submarket’s excellent connectivity advantages with three major arteries within a five-minute drive. Tenants will be tapped into an excellent labor pool, with nearly 50% of the workers within a 3-mile radius employed in blue-collar industries.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER AC |
|---|---|---|
| Gross Rental Income |
$490,000
|
$246,851.39
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$24,500
|
$12,342.57
|
| Effective Gross Income |
$465,500
|
$234,508.82
|
| Taxes |
$80,000
|
$40,302.27
|
| Operating Expenses |
$1
|
$0.50
|
| Total Expenses |
$80,001
|
$40,302.77
|
| Net Operating Income |
$385,499
|
$194,206.05
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $490,000 |
| Annual Per AC | $246,851.39 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Vacancy Loss | |
|---|---|
| Annual | $24,500 |
| Annual Per AC | $12,342.57 |
| Effective Gross Income | |
|---|---|
| Annual | $465,500 |
| Annual Per AC | $234,508.82 |
| Taxes | |
|---|---|
| Annual | $80,000 |
| Annual Per AC | $40,302.27 |
| Operating Expenses | |
|---|---|
| Annual | $1 |
| Annual Per AC | $0.50 |
| Total Expenses | |
|---|---|
| Annual | $80,001 |
| Annual Per AC | $40,302.77 |
| Net Operating Income | |
|---|---|
| Annual | $385,499 |
| Annual Per AC | $194,206.05 |
PROPERTY FACTS
| Price | $999,000 | Property Subtype | Industrial |
| Sale Type | Investment or Owner User | Proposed Use | |
| No. Lots | 1 | Total Lot Size | 1.99 AC |
| Property Type | Land | Zoning | LI - Light Industrial/Flex |
| Price | $999,000 |
| Sale Type | Investment or Owner User |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Industrial |
| Proposed Use | |
| Total Lot Size | 1.99 AC |
| Zoning | LI - Light Industrial/Flex |
1 LOT AVAILABLE
Lot
| Price | $999,000 | Lot Size | 1.99 AC |
| Price Per AC | $503,274.56 |
| Price | $999,000 |
| Price Per AC | $503,274.56 |
| Lot Size | 1.99 AC |
Approved by the City of Grand Prairie for two 17,000-square-foot flex warehouse buildings.
DEMOGRAPHICS
REGIONAL ACCESSIBILITY
CITY
POPULATION
MILES
DRIVE TIME
Fort Worth
895,008
22
0 h 34 m
Dallas
1,345,047
25
0 h 36 m
Austin
964,254
197
3 h 37 m
Houston
2,325,502
246
4 h 23 m
San Antonio
1,532,233
276
5 h 6 m
Memphis
650,618
482
8 h 33 m
ACCESS AND LABOR FORCE
10 MILES
Total Population
1,024,415
Total Labor Force
557,130
Unemployment Rate
4.05%
Median Household Income
$62,792
Warehouse Employees
105,591
High School Education Or Higher
82.70%
NEARBY AMENITIES
HOTELS |
|
|---|---|
| Days Inn |
104 rooms
6 min drive
|
| Four Points by Sheraton |
102 rooms
6 min drive
|
| Trademark Collection by Wyndham |
192 rooms
6 min drive
|
| Holiday Inn Express |
92 rooms
8 min drive
|
| Hilton |
308 rooms
7 min drive
|
PROPERTY TAXES
| Parcel Number | 42556609 | Total Assessment | $756,438 (2024) |
| Land Assessment | $756,438 (2024) | Annual Taxes | $80,000 |
| Improvements Assessment | $0 (2024) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
42556609
Land Assessment
$756,438 (2024)
Improvements Assessment
$0 (2024)
Total Assessment
$756,438 (2024)
Annual Taxes
$80,000
Tax Year
2025
SALE ADVISOR
SALE ADVISOR
Austin Seegmiller, Broker
(801) 499-7424
Contact
Meet Austin, a Utah real estate agent and devoted husband with a passion for the outdoors. Austin's knowledge of the state's diverse landscape, combined with his expertise in the real estate industry, makes him the go-to resource for buying and selling premier properties across Utah. In 2023, Austin gained renown in the region as he represented more buyer transactions than any other realtor in Utah.
Whether it's a mountain retreat, a lakeside cabin, or a sprawling ranch, Austin has the experience and dedication to help his clients find the perfect property for their lifestyle. When he's not closing deals, Austin can be found hiking, fishing, and exploring the great outdoors with his wife.
Whether it's a mountain retreat, a lakeside cabin, or a sprawling ranch, Austin has the experience and dedication to help his clients find the perfect property for their lifestyle. When he's not closing deals, Austin can be found hiking, fishing, and exploring the great outdoors with his wife.
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2337 Doreen St - 8%+ Cap Rate for Industrial Development
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