Leased Office
For Sale
$419,000
2601 Little Elm Pkwy Unit 602, Little Elm, TX 75068
Office condominium with four private offices, reception space, and a finished break room with granite countertops.
Property Size1,225 SF
Price / SF$342.04
Days on Market16
Property Features for 2601 Little Elm Pkwy Unit 602
General Information
Standard status
Active
Size
1,225 SF
Occupancy
100%
Building Details
Year Built
2019
Tenancy
Single
Owner Occupied
No
Listing Agency:
Keller Williams Frisco Stars
(214) 923-0563
Listed By:
Swati Shah · License #0606077
Source:
Aboveandbeyondrealty
Added: Aug 15
Changed: Aug 29
Last Checked: Aug 29 at 1:50PM
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 Keller Williams Frisco Stars
Investment Insights
Based on property information with market context.
Built in 2019, this office condominium is configured with four private offices, a reception area, and a break room equipped with wood cabinetry and granite countertops. The offices can accommodate individual work areas, meetings, or conferences, while the break room provides designated space for a refrigerator and microwave. An individually metered HVAC system gives the unit separate operating control.
The property is located at 2601 Little Elm Pkwy Unit 602 in Little Elm, near FM 423 and the Little Elm–Frisco corridor. The unit is leased to an existing tenant. HOA-covered items include exterior maintenance, water, sewer, trash, CAM, and building insurance.
The property is located at 2601 Little Elm Pkwy Unit 602 in Little Elm, near FM 423 and the Little Elm–Frisco corridor. The unit is leased to an existing tenant. HOA-covered items include exterior maintenance, water, sewer, trash, CAM, and building insurance.
Key Highlights
- Leased office condominium with an existing tenant
- Four private offices plus reception and break room areas
- Break room includes wood cabinetry and granite countertops
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
$17,034
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
4.07%
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%
$340,680
$340.7K
Cap Rate 7%
$243,343
$243.3K
Cap Rate 9%
$189,267
$189.3K
Market Conditions
NOI Build-Up for 1,225 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
$30.3K $24.72/SF
− Vacancy
−$7.6K −$6.18/SF
EGI
$22.7K $18.54/SF
− OpEx
−$5.7K −$4.64/SF
NOI
$17.0K $13.91/SF
Area
Denton County, TX
Vacancy
25.00%
Lease Rate
$24.72 /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%
$340,680
Cap Rate 7%
$243,343
Cap Rate 9%
$189,267
Alternative Uses
Best Use
Office B
$243.3K
$212.9K – $283.9K
NOI $17,034 @ 7.0% cap · market cap 4.07%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$17.13M
$14.99M – $19.99M
NOI $1,199,164 @ 7.0% cap · market cap 286.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
767
Businesses Nearby
Explore this area
Business Placement
Demographics for 75068, TX
66,248
Population
23,499
Households
2.8
Avg Household Size
34
Median Age
43%
College-Educated
92%
High-School Grad
27.9 sq mi
ZIP Area
2,374
Density / Sq Mi
$126,341
Median Household Income
$66,559
Median Earnings
$2,161
Median Rent
$386,300
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 - Office condominium with four private offices, reception space, and a finished break room with granite countertops.
Where is this office units located?
The property is located at 2601 Little Elm Pkwy Unit 602 Little Elm, TX.
What is the asking price?
The asking price for this property is $419,000.
What are key features of this property?
This property features: Leased office condominium with an existing tenant; Four private offices plus reception and break room areas; Break room includes wood cabinetry and granite countertops
