Listing Agency: Texas Premier Realty

Listed By: Mike Mahoney Show Phone

Source: Exprealty

Added: Feb 13, 2025 Changed: Sep 14 Last Checked: Oct 5 at 11:45PM

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Investment Insights

Based on property information with market context.

This property features a 3800 square foot shop and office situated on a 1.43 acre lot. The property is located at the intersection of Highway 121 and State Highway 160. The property is currently under lease through the remainder of 2025.

Key Highlights

• 1.43 acre lot at the intersection of Highway 121 and State Highway 160
• 3800 square foot Shop and Office
• Property is currently under lease through the remainder of 2025

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$61,144

Cap Rate

4.53%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,222,880 $1.2M

Cap Rate 7%

$873,486 $873.5K

Cap Rate 9%

$679,378 $679.4K

Market Conditions

NOI Build-Up for 3,800 SF

Gross rent

$91.7K $24.12/SF

− Vacancy

−$4.3K −$1.13/SF

EGI

$87.3K $22.99/SF

− OpEx

−$26.2K −$6.90/SF

NOI

$61.1K $16.09/SF

Area

Collin County, TX

Vacancy

4.70%

Lease Rate

$24.12 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,222,880

Cap Rate 7%

$873,486

Cap Rate 9%

$679,378

Alternative Uses

Best Use

Industrial

$3.78M

$3.30M – $4.41M (±1% cap)

NOI $264,314 @ 7.0% cap · market cap 19.58%

Second Best

Retail

$873.5K

$764.3K – $1.02M (±1% cap)

NOI $61,144 @ 7.0% cap · market cap 4.53%

Theoretical Best

—

—

same as Best Use

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Auto shops

Location Intelligence

Trade Area within ½ mile

23

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 75424, TX

4,517

Population

1,387

Households

3.3

Avg Household Size

38

Median Age

18%

College-Educated

87%

High-School Grad

63.6 sq mi

ZIP Area

71

Density / Sq Mi

$82,974

Median Household Income

$45,875

Median Earnings

$1,563

Median Rent

$302,600

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this auto shops located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Auto shop - 1.43 acre lot with 3800 SF shop and office.

Where is this auto shop located?

The property is located at 15550 160 Highway Blue Ridge, TX.

What is the asking price?

The asking price for this property is $1,350,000.

What are key features of this property?

This property features: 1.43 acre lot at the intersection of Highway 121 and State Highway 160; 3800 square foot Shop and Office; Property is currently under lease through the remainder of 2025