Frisco Medical/Professional Office
For Sale
Contact for pricing
11583 Independence Pkwy, Frisco, TX 75035
New construction condo in park-like setting with high-income demographics.
Property Size1,110 SF
Price / SF$314.41
Days on Market1107
Property Features for 11583 Independence Pkwy
General Information
Standard status
Active
Size
1,110 SF
Class
B
Property subtype
Office
Zoning
O-1
Listing Agency:
AVM Realty Group
(972) 914-0989
Listed By:
Amit Mahadar · License #0754810
Source:
Crexi
Added: Jul 29, 2023
Changed: Aug 8
Last Checked: May 13 at 8:01PM
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 AVM Realty Group
Investment Insights
Based on property information with market context.
Located on Independence Parkway in Frisco, Texas, 111583 Independence Parkway features newly constructed medical and professional office condos. The property is situated in Heritage Business Park, which offers a park-like setting with open green space, water features, and benches. The condos feature a brick and stone façade with private entrances. Signage opportunities are available along Independence Parkway, which sees over 16,000 vehicles daily. The surrounding area has a high average household income of $148,610 within a two-mile radius. The property is surrounded by workforce amenities. The building is suitable for medical and professional office uses. The closest medical center, Baylor Scott & White, is over five miles away. The property size is 1110 square feet.
Key Highlights
- Newly constructed medical/professional office condos in high‑income area.
- Serene, park‑like setting with green space and water features.
- High visibility with signage opportunities on Independence Parkway (16,000+ vehicles daily).
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
$22,771
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
6.52%
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%
$455,420
$455.4K
Cap Rate 7%
$325,300
$325.3K
Cap Rate 9%
$253,011
$253.0K
Market Conditions
NOI Build-Up for 1,110 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
$34.9K $31.44/SF
− Vacancy
−$4.5K −$4.09/SF
EGI
$30.4K $27.35/SF
− OpEx
−$7.6K −$6.84/SF
NOI
$22.8K $20.51/SF
Area
Frisco, TX
Vacancy
13.00%
Lease Rate
$31.44 /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%
$455,420
Cap Rate 7%
$325,300
Cap Rate 9%
$253,011
Alternative Uses
Best Use
Office B
$325.3K
$284.6K – $379.5K
NOI $22,771 @ 7.0% cap · market cap 6.52%
Second Best
Healthcare Medical
$205.5K
$179.8K – $239.8K
NOI $14,386 @ 7.0% cap · market cap 4.12%
Theoretical Best
Office A
$433.1K
$378.9K – $505.3K
NOI $30,315 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
294
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 75035, TX
82,596
Population
29,198
Households
2.8
Avg Household Size
35
Median Age
68%
College-Educated
96%
High-School Grad
24.9 sq mi
ZIP Area
3,317
Density / Sq Mi
$161,030
Median Household Income
$83,321
Median Earnings
$2,171
Median Rent
$562,300
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.
Similar Off Market Nearby
- Petco Vaccination Clinic — 15942 Eldorado Pkwy, Frisco, TX 75035
Frequently Asked Questions
What type of property is this?
Medical Office Space - New construction condo in park-like setting with high-income demographics.
Where is this medical office space located?
The property is located at 11583 Independence Pkwy Frisco, TX.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Newly constructed medical/professional office condos in high‑income area.; Serene, park‑like setting with green space and water features.; High visibility with signage opportunities on Independence Parkway (16,000+ vehicles daily).
