12-Unit Apartment
For Sale
$2,189,500
12-1509 F Ave, Plano, TX 75074
Capital improvements include a replaced roof, upgraded flooring, efficient windows, and parking lot enhancements.
Property Size12,300 SF
Price / SF$178.01
Days on Market96
Property Features for 12-1509 F Ave
General Information
Standard status
Active
Size
12,300 SF
Property subtype
Residential Income
Additional Details
Public Transit
Yes
Multifamily Units
12
Listing Agency:
Central Metro Realty
(512) 454-6873
Listed By:
Nathan Malka · License #0453733
(512) 454-6873
Source:
Exprealty
Added: May 28
Changed: Aug 29
Last Checked: Aug 31 at 12:36AM
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 Central Metro Realty
Investment Insights
Based on property information with market context.
This 12-unit apartment building contains 12,300 square feet and has benefited from several capital improvements. Completed work includes roof replacement, upgraded flooring, energy-efficient windows, and parking lot enhancements. Residents have an average stay of 5+ years.
The property is located in Downtown Plano, with walkable surroundings, public transit access, and proximity to major employment centers. Its setting provides access to established urban amenities and transportation options within the Plano market.
The property is located in Downtown Plano, with walkable surroundings, public transit access, and proximity to major employment centers. Its setting provides access to established urban amenities and transportation options within the Plano market.
Key Highlights
- 12‑unit apartment building totaling 12,300 square feet
- Roof replacement, upgraded flooring, energy‑efficient windows, and parking lot enhancements
- Average resident stay of 5+ years
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
$182,177
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
8.32%
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%
$3,643,540
$3.6M
Cap Rate 7%
$2,602,529
$2.6M
Cap Rate 9%
$2,024,189
$2.0M
Market Conditions
NOI Build-Up for 12,300 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
$373.4K $30.36/SF
− Vacancy
−$42.2K −$3.43/SF
EGI
$331.2K $26.93/SF
− OpEx
−$149.1K −$12.12/SF
NOI
$182.2K $14.81/SF
Area
Plano, TX
Vacancy
11.30%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
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%
$3,643,540
Cap Rate 7%
$2,602,529
Cap Rate 9%
$2,024,189
Alternative Uses
Best Use
Apartment 5plus
$2.60M
$2.28M – $3.04M
NOI $182,177 @ 7.0% cap · market cap 8.32%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.83M
$2.48M – $3.31M
NOI $198,303 @ 7.0% cap · market cap 9.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
1,549
Businesses Nearby
Explore this area
Business Placement
Demographics for 75074, TX
53,003
Population
19,362
Households
2.7
Avg Household Size
35
Median Age
42%
College-Educated
85%
High-School Grad
16.0 sq mi
ZIP Area
3,313
Density / Sq Mi
$84,185
Median Household Income
$42,523
Median Earnings
$1,678
Median Rent
$347,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Capital improvements include a replaced roof, upgraded flooring, efficient windows, and parking lot enhancements.
Where is this apartment building located?
The property is located at 12-1509 F Ave Plano, TX.
What is the asking price?
The asking price for this property is $2,189,500.
What are key features of this property?
This property features: 12‑unit apartment building totaling 12,300 square feet; Roof replacement, upgraded flooring, energy‑efficient windows, and parking lot enhancements; Average resident stay of 5+ years
