Airport-Access Flex
For Sale
Under Contract
$515,000
10035 Aeronca Lane, McKinney, TX 75071
CommercialSale, McKinney, TX
Property Size2,500 SF
Lot Size0.16 Acres
Price / SF$206
Days on Market12
Property Features for 10035 Aeronca Lane
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Contact City and County
Subdivision
Aero Country Estates
Directions
Please use GPS for accurate directions. Please note that this property is located at a private airport. There is no public parking. Parking is in the parking lot at the front of the building facing Virginia Parkway. Beware of airplanes as they have the right-of-way.
Standard status
Active Under Contract
APN
R201000001A11
Lot size
0.16 Acres
Taxes and HOA fees
Tax Description
AERO COUNTRY ESTATES (UNRECORDED) (GCN), LOT
Tax Annual Amount
2911
Legal Description
AERO COUNTRY ESTATES (UNRECORDED) (GCN), LOT
Utilities
Heating system
Central
Cooling system
Central Air
Amenities
airport access
Building Details
Year built
1997
Floors in Building
1
Number of units
1
Flooring type
Concrete, Paintedstained
Building materials
MetalSiding
Roof type
Metal
Listing Agency:
Astra Realty LLC
(214) 744-3990
Listed By:
Chris Jones · License #0438845
(214) 548-5542
Added: Aug 13
Changed: Aug 21
Last Checked: Aug 24 at 12:06PM
MLS# 21227934
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 flex property combines two separate office areas, a reception area, restroom, and warehouse-storage space within a single commercial building. The structure was built in 1997 and features metal siding, a metal roof, concrete and painted or stained flooring, central heating, and central air conditioning. The configuration supports office, storage, aviation-related, or combined operations as permitted by the applicable authorities.
The property faces Virginia Parkway near Custer Road and Virginia Parkway, with access to Highway 121, U.S. Hwy. 380, and Interstate 75. It is located at Aero Country Airport, a privately owned, public-use airport in the North Dallas metroplex, and sits in the ETJ of McKinney, Texas. The lot contains 0.16 acres.
The property faces Virginia Parkway near Custer Road and Virginia Parkway, with access to Highway 121, U.S. Hwy. 380, and Interstate 75. It is located at Aero Country Airport, a privately owned, public-use airport in the North Dallas metroplex, and sits in the ETJ of McKinney, Texas. The lot contains 0.16 acres.
Key Highlights
- Direct access to Aero Country Airport, a privately owned, public‑use airport
- Two office areas, reception space, restroom, and warehouse‑storage area
- Faces Virginia Parkway near Custer Road and Virginia Parkway
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
$32,117
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
6.24%
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%
$642,340
$642.3K
Cap Rate 7%
$458,814
$458.8K
Cap Rate 9%
$356,856
$356.9K
Market Conditions
NOI Build-Up for 2,500 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
$54.9K $21.96/SF
− Vacancy
−$12.1K −$4.83/SF
EGI
$42.8K $17.13/SF
− OpEx
−$10.7K −$4.28/SF
NOI
$32.1K $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%
$642,340
Cap Rate 7%
$458,814
Cap Rate 9%
$356,856
Alternative Uses
Best Use
Office B
$458.8K
$401.5K – $535.3K
NOI $32,117 @ 7.0% cap · market cap 6.24%
Second Best
Warehouse
$273.6K
$239.4K – $319.2K
NOI $19,154 @ 7.0% cap · market cap 3.72%
Theoretical Best
Office A
$702.9K
$615.0K – $820.0K
NOI $49,200 @ 7.0% cap · market cap 9.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
297
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75071, TX
64,449
Population
23,861
Households
2.7
Avg Household Size
35
Median Age
51%
College-Educated
94%
High-School Grad
74.1 sq mi
ZIP Area
870
Density / Sq Mi
$132,839
Median Household Income
$63,459
Median Earnings
$2,105
Median Rent
$448,500
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?
Flex space - Office and warehouse configuration with direct access to a privately owned, public-use airport in the North Dallas metroplex.
Where is this flex space located?
The property is located at 10035 Aeronca Lane McKinney, TX.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: Direct access to Aero Country Airport, a privately owned, public‑use airport; Two office areas, reception space, restroom, and warehouse‑storage area; Faces Virginia Parkway near Custer Road and Virginia Parkway
