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    The Largest CRE Database in the US with Over 1 Million Listings

    1511 W Mcdermott Dr Allen, TX 75013

    Sponsored
    For Sale
    $299,000

    Office - Allen, TX

    Type:Office
    Property size:
    1,357 SF
    Lot size:
    1.14 Acres
    Days on Market:
    2
    Last Refresh:
    Feb 2 at 7:06 am

    Property Features for 1511 W Mcdermott Dr

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Property condition
    New Construction
    Standard status
    Active
    APN
    R-9001-002-2300-1
    Size
    1,357 SF
    Lot size
    1.14 Acres

    Utilities

    Heating system
    None (Heating)

    Building Details

    Year built
    2023
    Flooring type
    Concrete
    Building materials
    Brick
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Amit Mahadar

    ReKonnection (972) 333-7559

    Listing agent Amit Mahadar (972) 914-0989 License #0754810

    Listing date Feb 1, 2026

    MLS# 21167529 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Prime Allen Office Location

    This 1357 square foot office space is located in Allen, Texas, within the Suncreek Office Village. The property is situated in Building Two, Unit 230, offering direct exposure to McDermott Drive. The location at the corner of West McDermott Drive and Twin Creeks Drive, Suncreek Drive, benefits from high daily traffic of 25,000 vehicles. The property is approved for medical or professional use. Signage opportunities are available. The location provides convenient access to Highway 75 and 121, serving Allen, McKinney, Frisco, Plano, and surrounding areas. The surrounding area offers a range of businesses, restaurants, and attractions, with amenities such as Watters Creek, The Villages at Allen and Fairview, Allen Premium Outlets, and Allen Event Center nearby. The property is located in an upscale, professional office environment.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Allen Friends & Family ... Medical Clinic Texas Implant & Periodontic ... Dental Implants Periodontist Allen City Dental Dentist Bridgett Anderson-Wright Nurse Practitioner Nu SPA Spa

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Allen
    County
    Collin
    State
    Texas
    Longitude
    -96.707174
    Latitude
    33.100234

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    FAQs

    What type of property is this?
    Office space - High-visibility office space in Allen, TX, suitable for medical or professional use.
    Where is this office space located?
    The property is located at 1511 W Mcdermott Dr Allen, TX.
    What is the asking price?
    The asking price for this property is $299,000.
    What are key features of this property?
    This property features: - Prime office location in Allen, TX, approved for medical or professional use; - **High-visibility location on McDermott Dr with 25,000 vehicles daily**; - Strategic location near HWY 75 and 121, servicing Allen, McKinney, Frisco, and Plano
    (972) 914-0989
    Request Owner's contact information
    1511 W Mcdermott Dr Allen, TX 75013
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    Allen, TX 75013
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1511 W Mcdermott Dr Allen, TX 75013
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    We can help!
    Listing Contact
    Amit Mahadar
    Real Estate License ID: 0754810
    (972) 914-0989
    Learn more
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