Posh peek: Mixed-use McKinney Avenue development elevates luxe living
By Payton Potter|Special Contributor, Dallas Morning News
10:27 AM on Oct 3, 2019
Built in 2005 for the Sugar Film Production company, a 4-story, 13,000 square-foot building at 3203 McKinney Avenue recently hit the market, and it’s already equipped to be a luxury home or money-making property.
Atop two levels of commercial and garage space sit two apartments, each have more than 3,700 square feet. The residential areas were built with polished concrete and terrazzo flooring and Bulthaup cabinets in the kitchens and bathrooms.
Listing agent Jonathan Rosen of Compass Real Estate told The Dallas Morning News he estimates the value of the cabinets in the kitchens alone at $150,000. The Bulthaup cabinets are included in the office space below the apartments, as well.
In addition to rooftop deck access, each residential unit also includes commercial kitchen appliances, a private balcony, floor-to-ceiling windows, automated shades and a “spa-like” bathroom with open-air showers and soaking bathtubs.
Although large mixed-use developments are common in North Texas, smaller scale buildings like this are rare in this area.
“I feel like in San Francisco, New York and LA, you see a lot of combined work-live space,” he said. “A lot of time, the stuff in Dallas is very regulated on zoning, so it’s cool to have a different opportunity.”
And opportunities are plentiful, he said. Potential buyers have expressed interest in using the apartment as a pied-à-terre, while others have used the space to house clients, employees and visitors.
And, because the property is zoned for mixed-use, the income opportunities are greater.
“If the office isn’t leased out, at least you know the residential is,” Rosen said. “It’s pretty nice to have a sense of security on what you can do with the space.”
The property, currently owned by The ValCap Group, carries a $7.49 million price tag.