Good & Gaston Portfolio 402 N Good Latimer Expy Local commercial 2 690 m² 100 % Loué À vendre Dallas, TX 75204

Marcus & Millichap is pleased to exclusively present for sale the Good & Gaston Portfolio, a rare collection of bar/restaurant properties situated along North Good Latimer Expressway, Gaston Avenue, and Floyd Street in urban Dallas’ most prominent entertainment district. The portfolio includes three bar/restaurant properties, totaling 28,951 square feet and situated on 1.56 acres, at the crosspoint between three major urban Dallas submarkets, including Downtown, Deep Ellum, and Old East Dallas.
The tenant lineup consists of long-tenured nightlife operations including Vice Park, Green Light Social, and Cash Cow, as well as additional passive income streams through valet parking, on-site parking lots with meters, and an income-producing billboard. The total net operating income for the offering is $1,592,144, with strong growth potential through annual rent increases and percentage rent clauses, as well as staggered lease turnover with multiple tenants at below-market rates.
The average rental rate across the portfolio is $48.18 per square foot, with 39.4 percent of the portfolio at $37.67 per square foot, which is 21.8 percent less than the average rental rate and 44 percent less than highest rental rate in the portfolio ($67.28 per square foot). Therefore, the portfolio provides the incredible ability to boost rents substantially throughout the portfolio over time, while maintaining a steady passive income stream from the valet and parking meters, as well as the on-site billboard.
The portfolio offers the rare opportunity to acquire three newly constructed bar/restaurant assets, income-producing parking lots, and an income-producing billboard, assembled across multiple sets of contiguous tracts of land totaling 1.56 acres. The subject property provides strong and consistent income potential with three tenured nightlife operators, while holding for a long-term vertical development opportunity. The parcels are currently zoned PD 298 (Subarea 5), which features a maximum build height of 270 feet, with a maximum lot coverage ratio of 90 percent, and a 4:1 FAR, ideal for vertical development upon completion of the current leases.