Corner Storefront
For Sale
$725,000
1600 N Waddill Street, McKinney, TX 75069
Corner positioning, three-sided parking, and access from N. Waddill Street and Pearson Avenue support retail-oriented use.
Property Size2,946 SF
Price / SF$246.10
Days on Market10
Property Features for 1600 N Waddill Street
General Information
Standard status
Active
Size
2,946 SF
Property subtype
Retail
Site & Location
Corner Location
Yes
Highway Access
Yes
Additional Details
Asking Price
$725,000
Building Details
Year Built
1975
Listing Agency:
Astra Realty LLC
(214) 744-3990
Listed By:
Rene Jensen · License #0438845
(214) 532-6823
Source:
Lonestarluxuryrealty
Added: Aug 3
Changed: Aug 11
Last Checked: Aug 12 at 5:52AM
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 storefront property comprises two parcels with a 2,946-square-foot building constructed in 1975. The building is positioned at the corner of N. Waddill Street and Pearson Avenue, with parking distributed along the front, side, and rear. Its storefront configuration and corner placement provide a practical setting for retail or other commercial occupancy, subject to buyer verification of zoning, permitted use, approvals, and the Certificate of Occupancy.
The property is approximately a 5-minute drive from Historic Downtown McKinney and is located near the US 380 and Highway 5 corridor. Nearby destinations identified in the marketing materials include Walmart, Sam’s Club, Academy Sports and Outdoors, Hutchins BBQ, Sonic, McKinney City Hall, and Sunset Amphitheater. Regional connections include SH 121, I-75, US HWY 380, and HWY 5. McKinney National Airport is approximately 10 minutes away, while DFW International Airport is about 41 minutes away.
The property is approximately a 5-minute drive from Historic Downtown McKinney and is located near the US 380 and Highway 5 corridor. Nearby destinations identified in the marketing materials include Walmart, Sam’s Club, Academy Sports and Outdoors, Hutchins BBQ, Sonic, McKinney City Hall, and Sunset Amphitheater. Regional connections include SH 121, I-75, US HWY 380, and HWY 5. McKinney National Airport is approximately 10 minutes away, while DFW International Airport is about 41 minutes away.
Key Highlights
- 2,946‑square‑foot storefront building on two parcels
- Corner location at 1600 N. Waddill Street and TBD Pearson Avenue
- Parking positioned at the front, side, and back of the building
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
$47,353
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
6.53%
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%
$947,060
$947.1K
Cap Rate 7%
$676,471
$676.5K
Cap Rate 9%
$526,144
$526.1K
Market Conditions
NOI Build-Up for 2,946 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
$71.1K $24.12/SF
− Vacancy
−$3.4K −$1.16/SF
EGI
$67.6K $22.96/SF
− OpEx
−$20.3K −$6.89/SF
NOI
$47.4K $16.07/SF
Area
McKinney, TX
Vacancy
4.80%
Lease Rate
$24.12 /SF/Yr
Expense Ratio
30.00%
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%
$947,060
Cap Rate 7%
$676,471
Cap Rate 9%
$526,144
Alternative Uses
Best Use
Retail
$676.5K
$591.9K – $789.2K
NOI $47,353 @ 7.0% cap · market cap 6.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$828.2K
$724.7K – $966.3K
NOI $57,977 @ 7.0% cap · market cap 8.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
970
Businesses Nearby
217
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
Tony's Pizza & Pasta
Dining
217 visits/mo
0.4 miles
Demographics for 75069, TX
39,084
Population
16,958
Households
2.3
Avg Household Size
38
Median Age
37%
College-Educated
88%
High-School Grad
33.7 sq mi
ZIP Area
1,160
Density / Sq Mi
$82,804
Median Household Income
$42,816
Median Earnings
$1,530
Median Rent
$413,700
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Sam's Club Floral — 1670 W University Dr, McKinney, TX 75069
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Frequently Asked Questions
What type of property is this?
Storefront property - Corner positioning, three-sided parking, and access from N. Waddill Street and Pearson Avenue support retail-oriented use.
Where is this storefront property located?
The property is located at 1600 N Waddill Street McKinney, TX.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 2,946‑square‑foot storefront building on two parcels; Corner location at 1600 N. Waddill Street and TBD Pearson Avenue; Parking positioned at the front, side, and back of the building
