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    409 E Princeton Drive Princeton, TX 75407

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    Claim this Listing
    For Sale
    $1,999,999

    Retail - Princeton, TX

    Type:Retail
    Property size:
    3,520 SF
    Lot size:
    1.09 Acres
    Price / SF:
    $568/SF
    Added:
    Apr 21, 2026
    Days on Market:
    12
    Last Refresh:
    May 2 at 6:06 pm

    Property Features for 409 E Princeton Drive

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Parking features
    Other
    Standard status
    Active
    APN
    1203138
    Size
    3,520 SF
    Lot size
    1.09 Acres

    Utilities

    Heating system
    None (Heating)

    Building Details

    Year built
    1985
    Flooring type
    Concrete, Other
    Roof type
    Composition, Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Chris Jones
    Chris Jones

    Listing agent Chris Jones License #0438845

    Listing office Astra Realty LLC 6401 Eldorado Pkwy, suite 109, Mckinney, TX

    Listing date Apr 21, 2026

    MLS# 21208119 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.

    Overview

    Princeton Retail Opportunity on US 380

    This commercial real estate opportunity is located in Princeton, Texas, off US 380-E in Collin County. The property features visibility along E. Princeton Dr.-US 380 with two parcels totaling approximately 265.34 linear feet of frontage and 1.090 acres. The surrounding area includes major retailers and services such as Walmart Supercenter, CVS, Ace Hardware, USPS, FedEx, Sonic, Taco Bell, AutoZone, McDonald's, 7-Eleven, U-Haul, Princeton City Hall, and Princeton High School. TxDOT traffic count maps show VPD between 30,324 to 33,450. There are two buildings on the property, one at 2,112 SF and another at 3,520 SF, with graveled parking and access via Highway 5, Sam Rayburn Tollway (Hwy 121), I-75, and US 380. Future expansions, including the US 380 Bypass, will reroute traffic and reduce congestion. This is a two-parcel property sale. The property is located 48 miles from DFW Airport, 43 miles to Dallas Love Field, 41 miles to downtown Dallas, and 9.2 miles to McKinney National Airport (TKI).
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    DJP Warehouse Warehouse & Storage SGMP/DJP Warehouse Warehouse & Storage

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Princeton
    County
    Collin
    State
    Texas
    Longitude
    -96.494887
    Latitude
    33.173468

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    FAQs

    What type of property is this?
    Retail space - Prime commercial real estate in booming Princeton, Texas, off US 380-E.
    Where is this retail space located?
    The property is located at 409 E Princeton Drive Princeton, TX.
    What is the asking price?
    The asking price for this property is $1,999,999.
    What are key features of this property?
    This property features: Prime commercial location with high visibility on E. Princeton Dr.-US 380 in Princeton, Texas.; High traffic volume: TxDOT reports between 30,324 to 33,450 vehicles per day (VPD).; Two parcels totaling 1.090 acres with approximately 265.34 linear feet of frontage.
    (214) 744-3990
    We can help!
    Listing Contact
    Chris Jones
    Chris Jones
    Real Estate License ID: 0438845
    Learn More
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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
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    409 E Princeton Drive, Princeton, TX 75407

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