5881 Virginia Pkwy, McKinney, TX 75071
14,111 SF | 100% Leased | Retail Building | McKinney, TX 75071 | $4,000,000 ($283/SF)
For Sale
Active
Asking Price $4,000,000
- Property Type
-
Retail
- Square Feet
- 14,111 SF
- Price / Square Foot
- $283
Listing Contacts
John David Cobb
Wilson Stafford
Property Overview
5881 Virginia Parkway (The “Property”) is a single-story professional office building situated on Virginia Parkway in McKinney, Texas. Constructed in 2006, the Property consists of a 14,111 sf medical/professional building and approximately 1.2 acres of additional land. It is currently fully leased, hosting a diverse mix of medical and professional tenants who cater to both local and regional markets.
This Property offers investors a prime opportunity to acquire a stable asset within an affluent submarket. 5881 Virginia Parkway is poised for future success, benefiting from its strategic market position, contractual rental increases, and potential value appreciation through both rental rate and land value growth.
This Property offers investors a prime opportunity to acquire a stable asset within an affluent submarket. 5881 Virginia Parkway is poised for future success, benefiting from its strategic market position, contractual rental increases, and potential value appreciation through both rental rate and land value growth.
Property Details
- Class
- B
- Year Built
- 2006
- Stories
- 1
- Property Subtype
- Storefront Retail/Residential
- Lot Size (sq. ft)
- 130,680 SF
Highlights
- Secure Investment: Fully Occupied Investment Opportunity with 68% of Gross Leasable Area Dedicated to Medical Tenants.
- Value Creation: Additional 53,000 sf developable pad
- Value-Add: Average rent is 26% below market
- Robust Local Demographics: Within a 2-mile radius, the median home value is $372,333 and the median household income is $137,830
- Superior Accessibility: Easy access to major thoroughfares (Virginia Parkway, Ridge Road, and HWY 75) with seamless connectivity to DFW MSA
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