Office Unit with
For Sale
$399,000
1511 McDermott Drive, Allen, TX 75013
CommercialSale, Allen, TX
Property Size1,420 SF
Lot Size0.03 Acres
Price / SF$280.99
Days on Market79
Property Features for 1511 McDermott Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Zoning description
Commercial
Parking features
Driveway
Subdivision
Suncreek Office village
Directions
Follow GPS Direction
Standard status
Active
APN
R900100221001
Size
1,420 SF
Lot size
0.03 Acres
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
signage available
Building Details
Year built
2023
Floors in Building
1
Number of units
1
Flooring type
Vinyl
Building materials
Brick, Concrete
Roof type
Shingle
Listing Agency:
Zenappy Realty
Listed By:
Sasidhar Kaligotla · License #0749528
(214) 430-2895
Added: Jun 19
Changed: Sep 2
Last Checked: Sep 5 at 8:06PM
MLS# 21234234
Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,420-square-foot office unit is under construction within Suncreek Office Village, with a 2023 build year and a professional office setting. The building uses brick and concrete construction, vinyl flooring, central heating, central air, a shingle roof, and driveway parking. Public water and public sewer serve the property, while available signage provides an identified way to present the business from the site.
The property is located at 1511 McDermott Drive in Allen, near W McDermott Drive, Twin Creeks Drive, and Suncreek Drive. Suncreek Drive receives 25,000 vehicles daily, and the office is positioned near HWY 75 with access to Allen, McKinney, Frisco, Plano, and surrounding North Dallas markets. Nearby established businesses, retail, dining, shopping, and entertainment destinations add to the surrounding commercial context.
The property is located at 1511 McDermott Drive in Allen, near W McDermott Drive, Twin Creeks Drive, and Suncreek Drive. Suncreek Drive receives 25,000 vehicles daily, and the office is positioned near HWY 75 with access to Allen, McKinney, Frisco, Plano, and surrounding North Dallas markets. Nearby established businesses, retail, dining, shopping, and entertainment destinations add to the surrounding commercial context.
Key Highlights
- 1,420 SF office unit in Suncreek Office Village
- Under construction with a 2023 build year
- Brick and concrete construction with vinyl flooring
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,303
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.34%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$346,060
$346.1K
Cap Rate 7%
$247,186
$247.2K
Cap Rate 9%
$192,256
$192.3K
Market Conditions
NOI Build-Up for 1,420 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$30.8K $21.72/SF
− Vacancy
−$7.8K −$5.47/SF
EGI
$23.1K $16.25/SF
− OpEx
−$5.8K −$4.06/SF
NOI
$17.3K $12.18/SF
Area
Allen, TX
Vacancy
25.20%
Lease Rate
$21.72 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$346,060
Cap Rate 7%
$247,186
Cap Rate 9%
$192,256
Alternative Uses
Best Use
Office B
$247.2K
$216.3K – $288.4K
NOI $17,303 @ 7.0% cap · market cap 4.34%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$376.4K
$329.3K – $439.1K
NOI $26,347 @ 7.0% cap · market cap 6.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
616
Businesses Nearby
Explore this area
Business Placement
Demographics for 75013, TX
48,360
Population
18,341
Households
2.6
Avg Household Size
37
Median Age
65%
College-Educated
97%
High-School Grad
15.0 sq mi
ZIP Area
3,224
Density / Sq Mi
$151,618
Median Household Income
$77,367
Median Earnings
$1,810
Median Rent
$561,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Under-construction professional workspace with central HVAC, driveway parking, and access to public water and sewer.
Where is this office units located?
The property is located at 1511 McDermott Drive Allen, TX.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 1,420 SF office unit in Suncreek Office Village; Under construction with a 2023 build year; Brick and concrete construction with vinyl flooring
