Three-Tenant Office
1002 Raintree Cir, Allen, TX 75013
For Sale
Contact for pricing
Three occupants currently lease the property, including a real estate brokerage, title company and pharmacy.
Property Size16,541 SF
Lot Size2.10 Acres
Price / SF$432.86
Days on Market39
Property Features for 1002 Raintree Cir
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Occupancy
Additional Details
Cap Rate
Highway Access
Tenant in Place
Property Use
Building Details
Year Built
Buildings
Building Size
Tenancy
Listing Agency:
STRIVE Commercial Real Estate Advisors
Listed By:
Bryan Meyer · License TX 807916-SA
Source:
Crexi
Added: Oct 5
Changed: Nov 8
Last Checked: Nov 12 at 4:53AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of STRIVE Commercial Real Estate Advisors
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Investment Insights
Based on property information with market context.
Built in 2008, this multi-tenant office property sits on 2.1 acres and includes 96 parking spaces. Its three current occupants are Keller Williams Realty, Capital Title of Texas and NovaRX Pharmacy. The building is fully occupied, and the Keller Williams lease runs through 2038. The property has a 6.50% cap rate, with tenants covering increases in operating expenses.
The site offers visibility from US Highway 75 and is one block from Texas Health Presbyterian Hospital in Allen, Texas.
The site offers visibility from US Highway 75 and is one block from Texas Health Presbyterian Hospital in Allen, Texas.
Key Highlights
- Fully occupied by three tenants: Keller Williams Realty, Capital Title of Texas and NovaRX Pharmacy
- Keller Williams lease extends through 2038
- 6.50% cap rate; tenants cover increases in operating expenses
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$201,551
Cap Rate
2.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,031,020
$4.0M
Cap Rate 7%
$2,879,300
$2.9M
Cap Rate 9%
$2,239,456
$2.2M
Market Conditions
NOI Build-Up for 16,541 SF
Gross rent
$359.3K $21.72/SF
− Vacancy
−$90.5K −$5.47/SF
EGI
$268.7K $16.25/SF
− OpEx
−$67.2K −$4.06/SF
NOI
$201.6K $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 Rate 5%
$4,031,020
Cap Rate 7%
$2,879,300
Cap Rate 9%
$2,239,456
Alternative Uses
Best Use
Office B
$2.88M
$2.52M – $3.36M
NOI $201,551 @ 7.0% cap · market cap 2.81%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$4.38M
$3.84M – $5.12M
NOI $306,907 @ 7.0% cap · market cap 4.29%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,651
Businesses Nearby
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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
$561,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Office buildings in Collin County, TX
Properties on Market for Office buildings in Collin County
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Three occupants currently lease the property, including a real estate brokerage, title company and pharmacy.
Where is this office building located?
The property is located at 1002 Raintree Cir Allen, TX.
What is the asking price?
The asking price for this property is $7,160,000.
What are key features of this property?
This property features: Fully occupied by three tenants: Keller Williams Realty, Capital Title of Texas and NovaRX Pharmacy; Keller Williams lease extends through 2038; 6.50% cap rate; tenants cover increases in operating expenses
