Office Plus Warehouse Hangar-Style
For Sale
$515,000
10035 Aeronca Ln, McKinney, TX 75071
Property includes two office areas, reception, restroom, and a large warehouse-storage area with direct airport access.
Property Size2,500 SF
Price / SF$206
Days on Market23
Property Features for 10035 Aeronca Ln
General Information
Standard status
Active
Size
2,500 SF
Lease Type
NNN
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
airport access
Building Details
Year Built
1997
Listing Agency:
Astra Realty LLC
(214) 744-3990
Listed By:
Chris Jones · License #0438845
Source:
1plusrealty
Added: Jul 25
Changed: Aug 15
Last Checked: Aug 16 at 9:53AM
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 Astra Realty LLC
Investment Insights
Based on property information with market context.
This property offers office and warehouse space designed for flexible business use. The interior includes two separate office areas, a reception area, and a restroom, along with a large warehouse-storage space suitable for equipment, inventory, or operations.
The property is located in the ETJ of McKinney, Texas at Aero Country Airport and faces Virginia Parkway near the intersection of Custer Road and Virginia Parkway. Access is described as quick to Highway 121 (Sam Rayburn Tollway), U.S. Hwy. 380, and Interstate 75. The remarks also indicate direct access to a privately owned, public-use airport.
All information is approximate. A new survey will be required, and buyers or tenants should confirm with the City of McKinney, Collin County, POA, and any other overseeing jurisdiction that their intended use is permitted.
The property is located in the ETJ of McKinney, Texas at Aero Country Airport and faces Virginia Parkway near the intersection of Custer Road and Virginia Parkway. Access is described as quick to Highway 121 (Sam Rayburn Tollway), U.S. Hwy. 380, and Interstate 75. The remarks also indicate direct access to a privately owned, public-use airport.
All information is approximate. A new survey will be required, and buyers or tenants should confirm with the City of McKinney, Collin County, POA, and any other overseeing jurisdiction that their intended use is permitted.
Key Highlights
- 1997‑built office plus warehouse property with approximately 2,500 SF of space
- Includes two separate office areas, reception area, restroom, and a large warehouse‑storage space
- Direct access to a privately owned, public‑use airport in the North Dallas metroplex
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
$32,117
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
6.24%
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%
$642,340
$642.3K
Cap Rate 7%
$458,814
$458.8K
Cap Rate 9%
$356,856
$356.9K
Market Conditions
NOI Build-Up for 2,500 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
$54.9K $21.96/SF
− Vacancy
−$12.1K −$4.83/SF
EGI
$42.8K $17.13/SF
− OpEx
−$10.7K −$4.28/SF
NOI
$32.1K $12.85/SF
Area
McKinney, TX
Vacancy
22.00%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
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%
$642,340
Cap Rate 7%
$458,814
Cap Rate 9%
$356,856
Alternative Uses
Best Use
Office B
$458.8K
$401.5K – $535.3K
NOI $32,117 @ 7.0% cap · market cap 6.24%
Second Best
Warehouse
$273.6K
$239.4K – $319.2K
NOI $19,154 @ 7.0% cap · market cap 3.72%
Theoretical Best
Office A
$702.9K
$615.0K – $820.0K
NOI $49,200 @ 7.0% cap · market cap 9.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
297
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75071, TX
64,449
Population
23,861
Households
2.7
Avg Household Size
35
Median Age
51%
College-Educated
94%
High-School Grad
74.1 sq mi
ZIP Area
870
Density / Sq Mi
$132,839
Median Household Income
$63,459
Median Earnings
$2,105
Median Rent
$448,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Property includes two office areas, reception, restroom, and a large warehouse-storage area with direct airport access.
Where is this flex space located?
The property is located at 10035 Aeronca Ln McKinney, TX.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: 1997‑built office plus warehouse property with approximately 2,500 SF of space; Includes two separate office areas, reception area, restroom, and a large warehouse‑storage space; Direct access to a privately owned, public‑use airport in the North Dallas metroplex
