Retail Space Under
1221 E University Drive, Prosper, TX 75078
For Sale
New
$6,632,010
CommercialSale, Prosper, TX
Property Size15,246 SF
Lot Size0.35 Acres
Price / SF$435
Days on Market4
Property Features for 1221 E University Drive
General Information
Property type
Property subtype
Property condition
Zoning description
Subdivision
Directions
Standard status
APN
Size
Lot size
Utilities
Sewer type
Heating system
Cooling system
Water source
Building Details
Year built
Floors in Building
Number of units
Flooring type
Roof type
Listing Agency:
Zenappy Realty
Listed By:
Sasidhar Kaligotla · License #0749528
(214) 430-2895
Added: Nov 4
Last Checked: Nov 6 at 11:06PM
MLS# 21426389
Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
A 15,246-square-foot retail property is under construction on a 0.35-acre site in Prosper. Planned building features include concrete flooring, a flat roof, and central heating and air conditioning. Public water and sewer service are specified.
The property fronts US-380 University Drive, which carries approximately 43,892 vehicles per day. Preston Road and the Dallas North Tollway are accessible from the area, and The Gates of Prosper is nearby.
The property fronts US-380 University Drive, which carries approximately 43,892 vehicles per day. Preston Road and the Dallas North Tollway are accessible from the area, and The Gates of Prosper is nearby.
Key Highlights
- 15,246 square feet of retail space on a 0.35‑acre site
- Under construction; year built listed as 2026
- US‑380 University Drive carries approximately 43,892 vehicles per day
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$245,315
Cap Rate
3.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,906,300
$4.9M
Cap Rate 7%
$3,504,500
$3.5M
Cap Rate 9%
$2,725,722
$2.7M
Market Conditions
NOI Build-Up for 15,246 SF
Gross rent
$367.7K $24.12/SF
− Vacancy
−$17.3K −$1.13/SF
EGI
$350.5K $22.99/SF
− OpEx
−$105.1K −$6.90/SF
NOI
$245.3K $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%
$4,906,300
Cap Rate 7%
$3,504,500
Cap Rate 9%
$2,725,722
Alternative Uses
Best Use
Retail
$3.50M
$3.07M – $4.09M
NOI $245,315 @ 7.0% cap · market cap 3.70%
Second Best
—
—
no second resolved use
Theoretical Best
Industrial
$15.15M
$13.26M – $17.67M
NOI $1,060,455 @ 7.0% cap · market cap 15.99%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
43,892 VPD
Traffic count
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
227
Businesses Nearby
Explore this area
Business Placement
Demographics for 75078, TX
38,980
Population
14,409
Households
2.7
Avg Household Size
34
Median Age
63%
College-Educated
97%
High-School Grad
31.6 sq mi
ZIP Area
1,234
Density / Sq Mi
$187,634
Median Household Income
$82,714
Median Earnings
$2,284
Median Rent
$650,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Retail space in Collin County, TX
Properties on Market for Retail space in Collin County
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Retail space - Central heating and air conditioning are specified for the retail space.
Where is this retail space located?
The property is located at 1221 E University Drive Prosper, TX.
What is the asking price?
The asking price for this property is $6,632,010.
What are key features of this property?
This property features: 15,246 square feet of retail space on a 0.35‑acre site; Under construction; year built listed as 2026; US‑380 University Drive carries approximately 43,892 vehicles per day
