Modern Office Building with
For Sale
Under Contract
$1,800,000
299 Eldorado Parkway, McKinney, TX 75069
CommercialSale, McKinney, TX
Property Size5,000 SF
Lot Size0.47 Acres
Price / SF$360
Days on Market32
Property Features for 299 Eldorado Parkway
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Commercial Office
Parking features
Parking Lot
Subdivision
Bogard Add
Lot features
Greenbelt, Irregular Lot, Landscaped
View
Park
Directions
I 75 North to Eldorado Parkway, turn Right (East), Turn right at Light (S. College Street) into parking lot. Pass Styx restaurant and proceed to back of lot.
Standard status
Active Under Contract
APN
R1162000A003R1
Lot size
0.47 Acres
Taxes and HOA fees
Tax Description
BOGARD ADDITION (CMC), BLK A, LOT 3R; (REPLAT
Legal Description
BOGARD ADDITION (CMC), BLK A, LOT 3R; (REPLAT
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Ceiling Fan(s), Central Air, Electric
Water source
Public
Amenities
patio
Building Details
Year built
2020
Floors in Building
1
Number of units
1
Flooring type
Concrete
Building materials
Brick, StoneVeneer
Roof type
Metal
Listing Agency:
OnDemand Realty
(214) 766-5833
Listed By:
Bill Oglesby · License #0727408
(214) 766-5833
Added: Jul 29
Changed: Aug 26
Last Checked: Aug 29 at 8:06AM
MLS# 21344435
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 office property features modern farmhouse-style architecture, brick and stone veneer construction, concrete flooring, and an open interior designed for flexible professional use. More than 800 square feet of additional storage provides space for offices, meeting rooms, or specialized work areas. A patio at the rear overlooks wooded Wilson Creek Park, while public water and public sewer serve the property. Heating is electric, and cooling includes central air, electric service, and ceiling fans.
Set on 0.474 acres at 299 Eldorado Parkway in McKinney, the property includes twelve dedicated parking spaces directly in front of the building, with additional parking behind it. The location is near major freeways, Historic Downtown McKinney Square, and McKinney National Airport, with access to the broader Dallas-Fort Worth metroplex.
Set on 0.474 acres at 299 Eldorado Parkway in McKinney, the property includes twelve dedicated parking spaces directly in front of the building, with additional parking behind it. The location is near major freeways, Historic Downtown McKinney Square, and McKinney National Airport, with access to the broader Dallas-Fort Worth metroplex.
Key Highlights
- More than 800 square feet of additional storage space
- 0.474‑acre office property at 299 Eldorado Parkway, McKinney, TX 75069
- Twelve dedicated parking spaces in front, plus additional parking behind the building
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
$64,233
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
3.57%
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%
$1,284,660
$1.3M
Cap Rate 7%
$917,614
$917.6K
Cap Rate 9%
$713,700
$713.7K
Market Conditions
NOI Build-Up for 5,000 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
$109.8K $21.96/SF
− Vacancy
−$24.2K −$4.83/SF
EGI
$85.6K $17.13/SF
− OpEx
−$21.4K −$4.28/SF
NOI
$64.2K $12.85/SF
Area
McKinney, TX
Vacancy
22.00%
Lease Rate
$21.96 /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%
$1,284,660
Cap Rate 7%
$917,614
Cap Rate 9%
$713,700
Alternative Uses
Best Use
Office B
$917.6K
$802.9K – $1.07M
NOI $64,233 @ 7.0% cap · market cap 3.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.41M
$1.23M – $1.64M
NOI $98,400 @ 7.0% cap · market cap 5.47%
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
291
Businesses Nearby
Explore this area
Business Placement
Demographics for 75069, TX
39,084
Population
16,958
Households
2.3
Avg Household Size
38
Median Age
37%
College-Educated
88%
High-School Grad
33.7 sq mi
ZIP Area
1,160
Density / Sq Mi
$82,804
Median Household Income
$42,816
Median Earnings
$1,530
Median Rent
$413,700
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 building - Flexible professional setting with additional storage, dedicated parking, and a patio overlooking wooded Wilson Creek Park.
Where is this office building located?
The property is located at 299 Eldorado Parkway McKinney, TX.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: More than 800 square feet of additional storage space; 0.474‑acre office property at 299 Eldorado Parkway, McKinney, TX 75069; Twelve dedicated parking spaces in front, plus additional parking behind the building
