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DEVELOPMENT OPPORTUNITY in EXCELLENT LOCATION 0.954+/- Acres | Dallas Texas

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DEVELOPMENT OPPORTUNITY in EXCELLENT LOCATION 0.954+/- Acres | Dallas Texas Downtown Dallas Grand Estates at Kessler Park 181, 753 VPD 338 Units Oaks at Trinity Trinity River 166 Units Lake Cliff Tower Oak Farms Dairy Methodist Dallas Lake Cliff Park Medical Center Novel Bishop Arts Apartments 302 Units WH Adamson High School Hector P. Garcia Middle School Victor Prosper Apartments 216 Units Felix Botello Elementary School Planned Deck JEFFERSON BLVD Park N BECKLEY AVE 0.954+/- ACRES S STOREY ST 17, 175 VPD Dallas Zoo 107,779 VPD N E 12TH ST DEVELOPMENT OPPORTUNITY IN EXCELLENT LOCATION 0.954+/- Acres | Dallas Texas JORDAN CORTEZ JUSTIN TIDWELL MASON JOHN CHRIS LUSSIER Managing Principal Senior Director Director Director 214-556-1951 214-556-1955 214-556-1953 214-556-1954 [email protected] [email protected] [email protected] [email protected] 0.954+/- ACRES DALLAS, TEXAS INVESTMENT OVERVIEW TAX INFORMATION Property 0.954+/- Acres Taxing Entity Tax Rate Location 213, 223 & 225 E 12th St, and 223 S Storey St Dallas, TX 75203 Dallas 0.7766 Access S Storey St & E 12th St Dallas ISD 1.310385 Utilities Available to the Site Dallas County 0.2531 Dallas Co Community College 0.124 Zoning MU-1: moderate density retail, office and/or multifamily residential Parkland Hospital 0.2695 Dallas County: 00000252796000000, 00000252799000000, Appraisal District Property ID 00000252808000000 2020 Total Tax Rate 2.733585 PRICE CHART Asking Price $1,050,000 Asking Price per Square Foot $25.27 *Seller will entertain a potential Joint Venture DEMOGRAPHICS ESTIMATED POPULATION (2018) ANNUAL GROWTH RATE (2018-2023) MEDIAN HOUSEHOLD INCOME MEDIAN HOME VALUE 1-MILE | 21,552 1-MILE | 2.76% 1-MILE | $36,785 1-MILE | $126,976 3-MILE | 149,904 3-MILE | 1.67% 3-MILE | $45,391 3-MILE | $134,823 5-MILE | 380,816 5-MILE | 1.70% 5-MILE | $50,089 5-MILE | $134,781 DEVELOPMENT OPPORTUNITY | DALLAS, TEXAS | 2 0.954+/- ACRES DALLAS, TEXAS 0.954+/- ACRES N DEVELOPMENT OPPORTUNITY | DALLAS, TEXAS | 3 0.954+/- ACRES DALLAS, TEXAS JEFFERSON BLVD S STOREY ST 0.954+/- ACRES 3,862 VPD E 12TH ST CUMBERLAND ST N DEVELOPMENT OPPORTUNITY | DALLAS, TEXAS | 4 0.954+/- ACRES DALLAS, TEXAS CUMBERLAND ST 0.954+/- ACRES E 12TH ST S STOREY ST N 3,862 VPD DEVELOPMENT OPPORTUNITY | DALLAS, TEXAS | 5 0.954+/- ACRES DALLAS, TEXAS INVESTMENT HIGHLIGHTS Excellent Location: The Property is in a rapidly redeveloping area of North Oak Cliff. Within this zone sits a diverse array of neighborhoods, including historic Jefferson Blvd (1 block away), Methodist Dallas Medical Center (1.5 miles), and the Bishop Arts District (0.9 Miles), which is home to over 60 boutiques, restaurants, bars, coffee shops, theaters, and art galleries. The Property is only 2 miles from Downtown Dallas, making it an ideal location for new development. Immediate Income: The Property is ideally suited as a covered land play as it currently has a 1,248 SF Single Family Residence and an adjacent 3,092 SF garage with electric and plumbing on site which can be immediately rented out for commercial or residential purposes by a new investor. Zoning: The Property is zoned MU-1 by City of Dallas Zoning: Allowing for moderate density retail, office, and/or multifamily residential uses in combination on single or contiguous building sites. Maximum dwelling unit density without mixed-use project is 15 units per Acre, Maximum dwelling unit density with 2 category mixed-use project is 20 units per Acre, and Maximum dwelling unit density with 3 category mixed-use project is 25 units per Acre. Roadway Expansion: The Property is located off Interstate 35E in an area that is part of The Southern Gateway project which is a $666 million design-build construction project by the Texas Department of Transportation (TxDOT), aimed to rebuild and widen Interstate 35E (I-35E) south of downtown. The project also includes building structural elements and accommodations for the City of Dallas’ planned deck plaza between Ewing and Marsalis Avenues which will be located less than 0.3 miles from the Property. DEVELOPMENT OPPORTUNITY | DALLAS, TEXAS | 6 0.954+/- ACRES DALLAS, TEXAS INVESTMENT HIGHLIGHTS TIF District: The Property is in an area of North Oak Cliff that falls within The Oak Cliff Gateway Tax Increment Financing (TIF) District. This represents an important opportunity for the City of Dallas to develop an attractive entry into the Oak Cliff area and to capitalize on the opportunities provided by the new Oak Cliff Trolley to connect downtown Dallas to key potential growth areas such as the neighborhood around Methodist Regional Medical Center, the Bishop Arts area, and the Jefferson Corridor. Budgeted Projects with the Sub-district include: Public Infrastructure Improvements including Streets, Streetscape, Water, Wastewater, Utility Burial, Façade Improvements, Environmental Remediation and Demolition, Pedestrian Linkages/Lighting, and Economic Development Grants. Growing Dallas/Fort Worth Economy: Dallas/Fort Worth metro continues to be one of the strongest, well-diversified economies in the nation, experiencing exponential growth both in terms of population and jobs. According to the U.S. Census Bureau, the DFW metro was the fastest-growing metro in the United States in 2018, adding over 132,000 residents. Current population for DFW is estimated at 7.5 million people which ranks fourth in the nation and is projected to grow over 33% by 2030 to a population of nearly 10 million. As of November 2019, the DFW metro added 120,700 jobs year over year, which is a 3.2 percent increase from the previous year, significantly higher than the national rate of 1.5 percent during the same time period. DEVELOPMENT OPPORTUNITY | DALLAS, TEXAS | 7 0.954+/- ACRES DALLAS, TEXAS SURVEY DEVELOPMENT OPPORTUNITY | DALLAS, TEXAS | 8 0.954+/- ACRES DALLAS, TEXAS DFW HIGHLIGHTS • The DFW area has a well-diversified economy that ranks fourth in the nation with an estimated 2019 Gross Metropolitan Product (GMP) of $613.4 billion. GROSS METROPOLITAN DFW UNEMPLOYMENT DFW ESTIMATED • The DFW unemployment rate is an outstanding 4.4 percent as of March 2020. PRODUCT RATE POPULATION $613.4 Billion 4.4% 7.5 Million • The DFW metro has an estimated population of 7.5 million people which ranks fourth in the nation among metro areas and is projected to grow to a population of nearly 10 million by 2030. State Farm • Twenty-four Fortune 500 companies are headquartered in DFW, ranking third most in the nation. • The metro area has experienced a substantial amount of corporate relocations and expansions in the past several years from firms such as: State Farm Insurance, Toyota Motor Co., Omnitracs, Santander Consumer USA, Tenet Healthcare Corporation, Kohl’s, AT&T, Blue Cross and Blue Shield of Texas, USAA, Google, Amazon, McKesson, and Top Golf. • DFW Airport is the fourth busiest in the world in terms of operations and twelfth largest in terms of passengers. The total estimated economic output of DFW airport is $37 billion and is currently undergoing a terminal renewal and improvement program at cost of $2.7 billion. Toyota • Recent rankings and awards received by DFW include the following: #1 in the country in Total Job Growth, #5 Best Performing Cities, and #13 Most Innovative Cities in the World. The approximately 0.954-acre Site is located within the City of Dallas which is part of the Dallas-Fort Worth-Arlington Metropolitan Statistical Area (“DFW”). DFW encompasses 12 counties within the state of Texas, with the Site being in Dallas County. DFW has a population of 7.5 million, making it the largest population center in Texas, fourth largest in the U.S., and seventh largest in the Americas. DEVELOPMENT OPPORTUNITY | DALLAS, TEXAS | 9 0.954+/- ACRES DALLAS, TEXAS ECONOMIC OVERVIEW DALLAS/FORT WORTH MAJOR EMPLOYERS DFW has the fourth largest economy in the nation among MSAs and has one of the highest concentrations of corporate COMPANY NAME EMPLOYEES headquarters in the United States including 24 Fortune 500 companies. DFW also contains a large Information American Airlines Group Inc. 37,000 Technology industry base (often referred to as the Silicon Prairie or the Telecom Corridor), owing to the large number of corporate IT projects and the presence of numerous electronics, computing, and telecommunication firms such Walmart Stores Inc. 34,000 as Texas Instruments, HP Enterprise Services, Dell Services, Nokia, AT&T, Alcatel-Lucent, Ericsson, and Verizon in and Texas Health Resources 22,296 around Dallas. In addition, several major defense manufacturers, including Lockheed Martin, Bell Helicopter, Textron, Dallas Independent School District 19,740 and Raytheon, maintain significant operations in DFW. Uber has recently announced they will establish a new U.S. AT&T 17,000 General and Administrative Hub in Deep Ellum which will create 3,000 high-paying jobs with an estimated annual Baylor Scott & White Health 16,500 payroll of $400 million. The Kroger Co. 15,397 The Dallas-Fort Worth-Arlington MSA supports approximately 3.8 million jobs, making it one of the largest economic Lockheed Martin Corp. 14,350 centers in the nation. The MSA added 120,700 jobs year-over-year in November 2019, second in the nation in terms Medical City Healthcare 14,000 of both the number of jobs added as well as the annual rate of job growth which was 3.2 percent compared to the Bank of America 13,500 national average of 1.5 percent. The region’s business-friendly environment and low cost of living have made DFW extremely attractive to both employers and employees and helped fuel massive population and job growth over the City of Dallas 13,350 past several years with this trend expected to continue. University of Texas Southwestern Medical Center 13,048 JPMorgan Chase 12,676 AREA OVERVIEW Fort Worth Independent School District 12,000 Located southwest of downtown, the North Oak Cliff focus area includes Lake Cliff, Kidd Springs, historic Jefferson Parkland Health & Hospital System 9,968 Blvd., Methodist Dallas Medical Center, and the Bishop Arts District.
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