Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    503 West Mcdermott Dr Allen, TX 75013

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $29 SF/Yr

    Move-in ready retail suite in high-traffic Allen, TX corridor.

    We can help!

    Listing Contact
    Mimi Tran
    Mimi Tran
    Source: Kacommercialgroup

    Listing Agency: Klasé Commercial Group Listing Agent: Mimi Tran

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

    Learn more

    Overview

    Allen Retail/Fitness Space Available

    This 4,144 square foot second-generation retail suite is currently operating as a boxing and fitness studio. The space features an open floor plan with high ceilings, restrooms, and existing fitness infrastructure. It is located in Allen, TX, and is suitable for a gym, studio, or retail user seeking a move-in-ready setup. The property benefits from excellent visibility, signage potential, and strong co-tenancy in a high-traffic retail corridor. The surrounding area offers a dynamic environment for businesses, with convenient access to amenities and attractions, including the Allen Premium Outlets, The Courses at Watters Creek, and Allen Event Center.
    Location Intelligence

    Current Use by Public Records

    Sofra Breakfast & Lunch Restaurant Firehouse Subs W ... Take-out & Catering Willow & Roots Salon Hair Salon Remedy Salon Hair Salon HAIRSTONISH Hair Salon

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Auto Parts Store

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

    Similar Places Nearby

    D1 Training Allen, QuickDrip IV Hydration, Metroplex Gymnastics, Valerie Totally, Magnificent Medicine & Aesthetics

    Location Insight

    • Map
    • Local Demand
    City
    Allen
    County
    Collin
    State
    Texas
    Longitude
    -96.6749195
    Latitude
    33.1014022

    Nearby Similar for Lease

    • $3,373 /Mo
      52,838 SF

      Allen, TX Retail/Office Space

      Prime Allen location suitable for medical or professional office use.
      1228 E Exchange Pkwy, Allen, TX 75002
      View Details
    • $2,500 /Mo
      8,930 SF

      Downtown Allen Office Space Available

      Office space with workstations, private office, and reception area.
      201 W Main St, Allen, TX 75013
      View Details
    • $1,500 /Mo
      5,750 SF

      Downtown Allen Upstairs Office Space

      Office space in Downtown Allen with private and open workspaces.
      115 W Main St, Allen, TX 75013
      View Details
    • Sponsored
      Contact for pricing

      Watter's Creek

      Discover many ways to work your way in Reston Town Center I
      825 Crk Blvd, Allen, TX 75013
      View Details
    • $2,000 /Mo
      120,008 SF

      Allen Office Space For Rent

      Centrally located office space in Allen, Texas available for lease.
      315 S Jupiter Rd, Allen, TX 75002
      View Details
    • $6,500 /Mo
      219,586 SF

      Furnished Office Space in Allen, TX

      Fully-furnished office space with amenities in Allen, Texas.
      450 Century Pkwy, Allen, TX 75013
      View Details
    • $6,000 /Mo
      219,586 SF

      Furnished Office Space in Allen

      Fully-furnished office space with amenities in Allen, Texas.
      450 Century Pkwy, Allen, TX 75013
      View Details
    • $15,000 /Mo
      10,000 SF

      Proposed Retail Space in Allen

      Proposed retail and commercial space available for lease in Allen.
      0000 Mcgarity Ln, Allen, TX 75002
      View Details
    • $6,500 /Mo
      45,999 SF

      Retail Space in Allen, TX

      Prime retail space in high-traffic Allen shopping center.
      1259 N Alma Dr, Allen, TX 75013
      View Details
    • $751 /Mo
      219,586 SF

      Furnished Office Space in Allen, TX

      Fully-furnished office spaces with amenities in Allen, Texas, available for rent.
      450 Century Pkwy, Allen, TX 75013
      View Details
    • $3,000 /Mo
      219,586 SF

      Furnished Office Space in Allen

      Fully-furnished office spaces with amenities in Allen, Texas.
      450 Century Pkwy, Allen, TX 75013
      View Details
    • $7,000 /Mo
      120,008 SF

      Allen Office Space For Lease

      Centrally located office space in Allen, Texas available for lease.
      315 S Jupiter Rd, Allen, TX 75002
      View Details

    FAQs

    What type of property is this?
    Fitness center & gym - Move-in ready retail suite in high-traffic Allen, TX corridor.
    Where is this fitness center & gym located?
    The property is located at 503 West Mcdermott Dr Allen, TX.
    What is the lease rate?
    The lease rate is $29 SF/Yr.
    What are key features of this property?
    This property features: - Move-in-ready 4,144 SF retail suite, ideal for gym, studio, or retail use.; - Existing fitness infrastructure in place.; - Excellent visibility and signage potential.
    (817) 682-7501
    Request Owner's contact information
    503 West Mcdermott Dr Allen, TX 75013
    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.
    503 West Mcdermott Dr
    Allen, TX 75013
    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
    503 West Mcdermott Dr Allen, TX 75013
    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
    Mimi Tran
    Mimi Tran
    Real Estate License ID: #0626198
    (817) 682-7501
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!