In 2021, Collin County, Texas, had the second-largest population growth of any county in the entire state. Uptown Dallas real estate and the surrounding Dallas metro area have exploded in population in the last 15 years, and it is only continuing to grow.
Commercial real estate in Uptown Dallas is particularly enticing for entrepreneurs. If you’re thinking about buying or leasing commercial real estate but are unsure where to start, keep reading: Uptown Dallas real estate may be what you are searching for.
Uptown Dallas commercial real estate
Growth is extreme
The most important thing to keep in mind about commercial real estate in Uptown Dallas is that the growth potential is huge. The Dallas metro area is one of the fastest-growing in the United States. Texas has done an excellent job attracting major companies, and the result is more jobs and more people to work those jobs.
Investing in commercial real estate within such a fast-growing market will do a few things for you. One, you’re always assured that someone will fill that real estate. Your commercial real estate in Uptown Dallas will always be highly sought-after, and the need will continue to grow in the coming years. If you’re going to buy commercial real estate, you should be doing it somewhere that will continue to grow and expand.
In 2020 alone, the Dallas-Fort Worth area saw a population increase of approximately 120,000 new residents. All these new families will need to shop, dine, and work somewhere.
Discover the people
When considering commercial real estate in Uptown Dallas, you need to think about the people who live, work, and shop there. This will give you the best idea of whether Uptown Dallas is for you or whether you want to look elsewhere in the Dallas area.
According to recent statistics, Uptown Dallas has a population of nearly 30,000. Almost 50% of residents have a Bachelor’s degree, with 35% having a Master’s degree or higher. It’s a nearly even split between men and women living there (51% to 49%), and most of the residents are younger, with 43% between the ages of 25 and 34.
The median household income for those living within the Uptown Dallas real estate market is just over $105,000, approximately $40,000 over the national average and almost double the median household income for all of Dallas. What does all this mean for you? Well, commercial real estate in Uptown Dallas caters to a younger, well-educated, well-paid group of residents. This is great news, and it makes the area particularly desirable.
There’s a lot of variety, so choose carefully
It’s easy for new investors to get overwhelmed by all the possibilities that commercial real estate in Uptown Dallas brings.
Because it is desired, there is plenty of room for any avenue — but choose carefully. Know what you want from buying commercial real estate in Uptown Dallas, and stick with the budget you have laid out to get the most from your purchase. This might mean you have to be patient to find the perfect location, but it is the smart way to invest.
Know your class
If you’re looking to set up offices in your commercial real estate in Uptown Dallas, you should know your classes. Office buildings are generally grouped into three main classes — A, B, and C. Classes don’t just designate the building itself, but the area around it and how healthy the market is.
Class C buildings are generally the most unsought, and this is not the type of Uptown Dallas real estate you’re going to find. Often class C buildings need a lot of work and are not in a very desirable part of town.
Class B buildings are the middle children of office buildings. The buildings may be fine and even new, but the area is probably less than ideal. This isn’t very common for commercial real estate in Uptown Dallas since it is such a vibrant area.
Finally, class A buildings are the best-of-the-best. These office buildings are generally new or have been recently updated, and in a very desirable part of town with many amenities for those working there. This is the most common class you’re going to find regarding commercial real estate in Uptown Dallas.
Ready to start looking for Uptown Dallas commercial real estate?
If you are convinced that Uptown Dallas real estate is right for your next investment opportunity, you need to find a good real estate agent to work with. Choosing just any Dallas-based real estate agent isn’t going to help you find the best commercial property in Uptown Dallas that will fit your needs — mainly because most agents don’t have experience working within the commercial arena and don’t understand the nuances around commercial real estate.
When you need the best real estate agent, reach out to Courtney Tauriac today. Courtney has over 20 years of experience working in real estate and is incredibly familiar with the Dallas area. She understands the current competitive market and can help connect you with the perfect commercial real estate opportunity for you. There’s no one better out there to set you up for success!
