Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    505 S Chestnut Street McKinney, TX 75069

    View on Map
    Claim this Listing
    For Sale
    Under Contract
    $400,000

    Retail - McKinney, TX

    Type:Retail
    Property size:
    1,552 SF
    Lot size:
    0.27 Acres
    Added:
    Mar 24, 2026
    Days on Market:
    34
    Last Refresh:
    Apr 26 at 2:06 pm

    Property Features for 505 S Chestnut Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Parking features
    Driveway
    Standard status
    Active Under Contract
    APN
    R094101800201
    Size
    1,552 SF
    Lot size
    0.27 Acres

    Utilities

    Heating system
    Natural Gas
    Cooling system
    Multi Units, Wall/Window Unit(s), Window Unit(s)

    Building Details

    Year built
    1915
    Flooring type
    Wood
    Building materials
    Frame
    Roof type
    Composition
    Architectural style
    Other

    We can help!

    Listing Contact
    Wesley Haile

    Listing agent Wesley Haile License #0712321

    Listing office Russell Realty 201 W. Virginia St., McKinney, TX

    Listing date Mar 24, 2026

    MLS# 21203913 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

    Prime McKinney Retail Redevelopment Opportunity

    This property, located in McKinney, TX, presents a redevelopment opportunity along the HWY 5 corridor. The 0.269-acre lot is zoned BN (Business Neighborhood) and contains a 1,552 sq ft home, which offers potential as a rental property while awaiting commercial development. A Starbucks is currently under construction across the street. The new City Hall of McKinney and a mixed-use development are located just north of the property. Additionally, a strip retail center is under construction just south of this location, further enhancing the area's commercial appeal. This property offers an opportunity to purchase an investment property.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    McKinney
    County
    Collin
    State
    Texas
    Longitude
    -96.613319
    Latitude
    33.19243

    Nearby Similar for Sale

    • $474,990

      New Office Space in McKinney

      Newly constructed office condo with high-quality finishes and convenient parking.
      6000 Alma Road, McKinney, TX 75070
      View Details
    • $948,000

      Furnished Office Ready to Occupy

      Move-in ready, fully furnished office space in excellent McKinney location.
      2797 S Stonebridge Drive, McKinney, TX 75072
      View Details
    • $395,550

      Move-in Ready Office in McKinney

      Corner office unit in Stonebridge Ranch, McKinney, TX.
      3900 S Stonebridge Drive, McKinney, TX 75070
      View Details
    • $944,622

      Premium Retail Space, McKinney, TX

      Highly visible, adaptable retail space in a thriving commercial corridor.
      5121 S Custer Road, McKinney, TX 75070
      View Details
    • $412,000

      Upscale Office Suite in McKinney

      Modern office suite with high-end finishes and prime location.
      8951 Collin Mckinney Parkway, McKinney, TX 75070
      View Details
    • $849,999

      Turnkey McKinney Office Opportunity

      2,900 SF medical/professional office in a high-growth area.
      3600 Eldorado Parkway, McKinney, TX 75070
      View Details
    • $1,175,000

      Upgraded Office Suites in McKinney

      Fully furnished office suites with high-end upgrades and flexible layout.
      2001 Auburn Hills Parkway, McKinney, TX 75071
      View Details
    • $515,000

      Office Plus Warehouse at Airport

      Versatile commercial property near Aero Country Airport in McKinney, TX.
      10035 Aeronca Lane, McKinney, TX 75071
      View Details
    • $780,000

      Stonebridge Drive Office Condo

      Office condo in McKinney with convenient highway access.
      3900 S Stonebridge Drive, McKinney, TX 75070
      View Details
    • $359,000
      1,021 SF

      Historic Downtown McKinney Business Opportunity

      Storefront in Historic Downtown McKinney, ready for your business.
      312 Cloyd Street, McKinney, TX 75069
      View Details
    • $6,600,000

      Modern Car Wash in McKinney

      High-capacity flex car wash built in 2022 on 2.04 acres.
      5001 Mckinney Ranch Parkway, McKinney, TX 75070
      View Details
    • $1,175,000
      2,880 SF

      Spacious Home with Multiple Metal Shops

      Open-concept home with shops, office, barn on 6.59 acres.
      4360 County Road 411, McKinney, TX 75071
      View Details

    FAQs

    What type of property is this?
    Commercial land - Investment property on HWY 5 with redevelopment potential.
    Where is this commercial land located?
    The property is located at 505 S Chestnut Street McKinney, TX.
    What is the asking price?
    The asking price for this property is $400,000.
    What are key features of this property?
    This property features: Prime location on HWY 5 corridor in McKinney, experiencing significant redevelopment.; Zoned BN (Business Neighborhood) offering commercial development potential.; Investment opportunity with existing 1552 sq ft home suitable for rental income.
    (469) 919-4567
    We can help!
    Listing Contact
    Wesley Haile
    Real Estate License ID: 0712321
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!