Office Condo Shell
For Sale
$1,312,500
1305 Summit View Lane, Celina, TX 75009
COMMERCIAL - Celina, TX
Property Size3,500 SF
Lot Size0.08 Acres
Price / SF$375
Days on Market22
Property Features for 1305 Summit View Lane
General Information
Property type
Commercial Sale
Property subtype
Office
Property condition
Under Construction
Zoning description
C-2 Commercial - City of Celina, Medical & Professional Office, Collin County TX
Subdivision
Preston Office Park
Lot features
Interior Lot, Level, Subdivision
Directions
Please use Google Maps for the most accurate driving directions.
Standard status
Active
APN
2956435
Lot size
0.08 Acres
Taxes and HOA fees
Tax Description
Lot 1 Blk 1 Preston Office Park Abs 167
Legal Description
Lot 1 Blk 1 Preston Office Park Abs 167
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
2026
Floors in Building
1
Number of units
2
Building materials
Brick, Frame
Roof type
Flat
Listing Agency:
MAXWORTH REAL ESTATE GROUP LLC
(817) 929-9259
Listed By:
Vibhu Rana
(817) 929-9259
Added: Aug 1
Changed: Aug 19
Last Checked: Aug 22 at 3:06PM
MLS# 21345534
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.
Investment Insights
Based on property information with market context.
Suite 110 is an approximately 3,500-square-foot office condominium within Building 8 at Celina Hills Office Park. Delivered as a cold dark shell and currently under construction, the space allows the interior to be designed around a future occupant’s requirements. The property supports medical, professional office, and other commercial applications identified for the suite.
The office park includes an established HOA responsible for common-area maintenance, parking, and landscaping. Building improvements include brick and frame construction, a flat roof, public water, and public sewer. Construction is scheduled for 2026.
The office park includes an established HOA responsible for common-area maintenance, parking, and landscaping. Building improvements include brick and frame construction, a flat roof, public water, and public sewer. Construction is scheduled for 2026.
Key Highlights
- Approximately 3,500 SF of cold dark shell office space
- Suite 110 in Building 8 at Celina Hills Office Park
- Under construction with 2026 construction year
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
$48,669
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
3.71%
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%
$973,380
$973.4K
Cap Rate 7%
$695,271
$695.3K
Cap Rate 9%
$540,767
$540.8K
Market Conditions
NOI Build-Up for 3,500 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
$91.1K $26.04/SF
− Vacancy
−$10.0K −$2.86/SF
EGI
$81.1K $23.18/SF
− OpEx
−$32.4K −$9.27/SF
NOI
$48.7K $13.91/SF
Area
Collin County, TX
Vacancy
11.00%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
40.00%
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%
$973,380
Cap Rate 7%
$695,271
Cap Rate 9%
$540,767
Alternative Uses
Best Use
Healthcare Medical
$695.3K
$608.4K – $811.2K
NOI $48,669 @ 7.0% cap · market cap 3.71%
Second Best
Office B
$634.1K
$554.8K – $739.8K
NOI $44,387 @ 7.0% cap · market cap 3.38%
Theoretical Best
Industrial
$3.48M
$3.04M – $4.06M
NOI $243,447 @ 7.0% cap · market cap 18.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
232
Businesses Nearby
Explore this area
Business Placement
Demographics for 75009, TX
21,276
Population
9,943
Households
2.1
Avg Household Size
34
Median Age
56%
College-Educated
96%
High-School Grad
98.7 sq mi
ZIP Area
216
Density / Sq Mi
$166,064
Median Household Income
$70,683
Median Earnings
$2,134
Median Rent
$471,300
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?
Office units - Under-construction office condominium space supports a customized interior plan for medical, professional, or other commercial use.
Where is this office units located?
The property is located at 1305 Summit View Lane Celina, TX.
What is the asking price?
The asking price for this property is $1,312,500.
What are key features of this property?
This property features: Approximately 3,500 SF of cold dark shell office space; Suite 110 in Building 8 at Celina Hills Office Park; Under construction with 2026 construction year
