Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2903 Mckinney St Melissa, TX 75454

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    New retail space near 121 & 75 in Melissa, TX.

    Property size:
    3,078 SF
    Lot size:
    5.15 Acres

    Property Features for 2903 Mckinney St

    General Information

    Size
    3,078 SF
    Lot size
    5.15 Acres

    We can help!

    Listing Contact
    Chris Higbie
    Chris Higbie
    Source: Moodyscre

    Listing Agent: Chris Higbie

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Retail, Medical, and Office Space

    This property offers new retail, medical, and office space. It is located in close proximity to highways 121 and 75. The property includes a restaurant space opportunity with an outdoor family entertainment area. The property size is 3078 square feet.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Melissa
    County
    Collin
    State
    Texas
    Longitude
    -96.5740039
    Latitude
    33.2866772

    Nearby Similar for Lease

    • Contact for pricing
      7,600 SF

      Proposed Mixed-Use Development in Melissa

      22-acre mixed-use development opportunity in rapidly growing Melissa, Texas.
      2750 State Highway 121, Melissa, TX 75454
      View Details
    • $35 SF/Yr
      10,343 SF

      New Retail Spaces For Lease

      New retail spaces available in a high-growth Texas community.
      3115 Milrany Ln, Melissa, TX 75454
      View Details
    • Contact for pricing
      29,494 SF

      Melissa Retail Space - Legacy Ranch

      Prime Retail Space, 10,000 SF Available
      & TX-5 Nec Melissa Rd, Melissa, TX 75454
      View Details
    • $25 SF/Yr
      11,500 SF

      McKinney Crossing Retail Space

      Prime Retail Storefront in Melissa, TX
      0 Neq Of Us Hwy 380 & Hwy 5, Melissa, TX 75071
      View Details
    • Contact for pricing
      29,494 SF

      Melissa Retail Center - Legacy Ranch

      Prime Collin County retail space available.
      & TX-5 Swq Melissa Rd, Melissa, TX 75454
      View Details
    • $48 SF/Yr
      14,971 SF

      Melissa Wellness Village Retail Space

      1,288 SF Retail Space in Growing Melissa, TX
      3031 Washington Dr, Melissa, TX 75454
      View Details
    • Contact for pricing
      10,990 SF

      Retail Space Near Buc-ee's

      Retail property for lease near major highway and popular travel center.
      1702 Central Expy, Melissa, TX 75070
      View Details
    • Contact for pricing
      2,100 SF

      Retail Space on Sam Rayburn

      Retail space with high traffic and convenient access.
      3022 Sam Rayburn Hwy, Melissa, TX 75454
      View Details
    • Contact for pricing
      16,394 SF

      Retail Space in Growing City

      Retail property with high visibility and easy access.
      2211 Central Expy, Melissa, TX 75070
      View Details
    • Contact for pricing
      11,925 SF

      Retail/Restaurant Space Near Future HEB

      Retail/Restaurant space available for lease near future HEB.
      1831 E Melissa Rd, Melissa, TX 75454
      View Details
    • Contact for pricing
      6,300 SF

      Retail Building Available Fall 2024

      6,300 SF retail building available in Fall 2024.
      2206 Riv Trl, Melissa, TX
      View Details
    • Contact for pricing
      8,368 SF

      Retail/Restaurant Space Near HEB, Buc-ee's

      Shell space available near HEB and Buc-ee's.
      340 Bucees Blvd, Melissa, TX
      View Details

    FAQs

    What type of property is this?
    Retail space - New retail space near 121 & 75 in Melissa, TX.
    Where is this retail space located?
    The property is located at 2903 Mckinney St Melissa, TX.
    What are key features of this property?
    This property features: - New Retail, Medical, & Office Building; - Close proximity to 121 & 75; - Restaurant Space Opportunity
    (972) 759-7830
    Request Owner's contact information
    2903 Mckinney St Melissa, TX 75454
    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.
    2903 Mckinney St
    Melissa, TX 75454
    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
    2903 Mckinney St Melissa, TX 75454
    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

    We can help!
    Listing Contact
    Chris Higbie
    Chris Higbie
    (972) 759-7830
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.