1823 Cadiz

---

Investment Overview

Marcus & Millichap is pleased to exclusively present for sale 1823 Cadiz Street, a 0.67-acre development opportunity located in downtown Dallas, Texas. This extremely rare asset includes highly favorable PD 357 zoning, which features zero height restrictions, a floor-area-ratio of 20:1, and minimal parking requirements for new developments. This site offers the rare opportunity for a developer to add their mark to the downtown Dallas skyline with a new tower development, with available uses such as hotel, multifamily, office, and retail. The property is strategically located in a prime position within the downtown Dallas submarket, directly adjacent to the Newpark District, the Farmers Market District, Harwood Park, the East Quarter, the Dallas Convention Center Expansion, and many major employers in the downtown Dallas area.

The subject property is currently an income-producing surface parking lot featuring 68 spaces, which primarily services the Dallas Farmers Market and surrounding attractions. The subject property at 1823 Cadiz Street is also located within an Opportunity Zone, allowing a new developer the rare opportunity to take advantage of the tax incentives provided to Opportunity Funds.

The Dallas-Fort Worth metroplex is widely considered one of the top commercial real estate markets in the United States and one of the fastest-growing submarkets in the entire country. Notably a top job market, the Dallas-Fort Worth metroplex features 24 Fortune 500 company head-quarters, eight Fortune Global 500 head-quarters, and 49 Fortune 1,000 headquarters. The Metroplex has also ranked as the top market for year-over-year job growth, adding over 132,000 jobs in the past 12 months, a 3.3 percent annual increase.

The city of Dallas has also gained tremendous press lately with the recent introduction of the Texas Stock Exchange, which is backed by several Wall Street investment groups such as Black Rock, Citadel Securities, and many more. With the massive influx of corporate relocations of Fortune recognized companies and job growth, this has driven a tremendous number of new residents to the Metroplex, further driving the need for additional housing and retail establishments to sustain this increased demand.

Overall, 1823 Cadiz Street provides a developer with the rare opportunity to acquire a 0.64-acre vertical development site in the highly coveted downtown Dallas submarket. Additionally, the site is zoned PD 357 which allows for a multitude of new developments and commercial uses, with no height restrictions and minimal parking requirements on new constructions. The subject property is located within an extremely high-barrier-to-entry submarket and proximate to multiple new large-scale developments, including the Kay Bailey Hutchison Convention Center expansion, the Newpark District, the Farmers Market District, East Quarter, and many more.