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    2302 Sam Rayburn Hwy Melissa, TX 75454

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    For Sale
    $2,700,961

    6,938 SF 100% Leased Office Building

    Property size:
    6,938 SF
    Lot size:
    0.75 Acres
    Price / SF:
    $389/SF
    Added:
    Dec 20, 2024
    Days on Market:
    491
    Last Refresh:
    Mar 16 at 9:06 am

    Property Features for 2302 Sam Rayburn Hwy

    General Information

    Standard status
    Active
    Property type
    Medical Office Space, Other retail properties, Day care centers, Office properties & Spaces, Retail properties & Spaces, Specialty properties
    Size
    6,938 SF
    Net Rentable
    6,938 SF
    Class
    A
    Total Parking Spaces
    33
    Elevators
    N/A
    Lot size
    0.75 Acres
    Investment Type
    Core
    Net Operating Income
    $168,810

    Building Details

    Year Built
    2018
    Buildings
    1
    Stories
    1

    We can help!

    Listing Contact
    Antonio Diona

    Listing agent Antonio

    Listing office

    Listing date Dec 20, 2024

    Overview

    Leased Medical Building Investment Opportunity

    This 6,938 square foot medical office building is located in Melissa, Texas. Constructed in 2018, the property is situated on a 0.75-acre lot. The building is 100% occupied by two tenants: Melissa Dental & Orthodontics, part of the MB2 Dental network, and Goldfish Pediatrics & Urgent Care, both operating under NNN leases. The weighted average lease term exceeds 11 years. The property is located on Sam Rayburn Highway, offering high visibility and accessibility. The surrounding area has experienced significant residential and retail development, including nearby Walmart and H-E-B supercenters. The property's location, construction, and tenant mix contribute to its investment potential. The property is suitable for medical offices, retail, day-care centers, and specialty uses. The net operating income is $168,810.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Medical Office Space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    • Animal Hospital of Melissa — 2510 McKinney St, Melissa, TX 75454
    • easyvet Veterinarian Melissa — 2435 Sam Rayburn Hwy Suite 300, Melissa, TX 75454

    Location Insight

    • Map
    • Local Demand
    City
    Melissa
    County
    Collin
    State
    Texas
    Longitude
    -96.584
    Latitude
    33.28

    Nearby Similar for Sale

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      Industrial Property with Outdoor Storage

      Fully leased industrial property with warehouse, office, and outdoor storage.
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      Retail Space in Melissa, TX

      Retail space available for sale in Melissa, Texas.
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    FAQs

    What type of property is this?
    Medical Office Space - 6,938 SF 100% Leased Office Building
    Where is this medical office space located?
    The property is located at 2302 Sam Rayburn Hwy Melissa, TX.
    What is the asking price?
    The asking price for this property is $2,700,961.
    What are key features of this property?
    This property features: +RARE NEW 15‑YEAR NNN LEASE EXTENSION PENDING | 11 YEAR WEIGHTED AVG LEASE TERM | MB2, is in the process of executing a new 15‑year NNN lease; + IDEAL LOCATION | PROXIMITY TO NATIONAL TENANTS | MAJOR RETAILERS EXPANDING INTO MELISSA | NEW WALMART AND HEB STORES; + BOOMING DEVELOPMENT | CLOSE PROXIMITY TO NEW MULTI‑FAMILY AND SINGLE‑FAMILY RESIDENTIAL DEVELOPMENTS
    (818) 442-4722
    We can help!
    Listing Contact
    Antonio Diona
    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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