Building Details

Year Built 2026

Tenancy Multi

Listing Agency: Equitify

Listed By: Hisham Ahmad · License #841661-SA Show Phone

Source: Crexi

Added: Aug 21 Changed: Oct 13 Last Checked: Oct 16 at 9:09AM

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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 Equitify

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Investment Insights

Based on property information with market context.

This 11,436-square-foot retail center is a new-construction project at 1350 S Preston Road in Celina, Texas. Construction is underway, with shell completion expected by March 31, 2027. The development includes a 3,345-square-foot lease with Mission Pet Health under a 10-year term with 2.5% annual increases.

An additional 2,500 square feet is under LOI with India Today Restaurant for a proposed five-year term that includes 2.5% annual increases. Approximately 5,591 square feet remains available within the project, creating a multi-tenant retail configuration along the Preston Road / SH-289 corridor.

Key Highlights

• 11,436 SF new‑construction retail development
• 3,345 SF leased to Mission Pet Health under a 10‑year term
• 2,500 SF under LOI with India Today Restaurant

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$184,010

Cap Rate

2.94%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,680,200 $3.7M

Cap Rate 7%

$2,628,714 $2.6M

Cap Rate 9%

$2,044,556 $2.0M

Is this asking price fair?

Market Conditions

NOI Build-Up for 11,436 SF

Gross rent

$275.8K $24.12/SF

− Vacancy

−$13.0K −$1.13/SF

EGI

$262.9K $22.99/SF

− OpEx

−$78.9K −$6.90/SF

NOI

$184.0K $16.09/SF

Area

Collin County, TX

Vacancy

4.70%

Lease Rate

$24.12 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,680,200

Cap Rate 7%

$2,628,714

Cap Rate 9%

$2,044,556

Alternative Uses

Best Use

Retail

$2.63M

$2.30M – $3.07M (±1% cap)

NOI $184,010 @ 7.0% cap · market cap 2.94%

Second Best

—

—

no second resolved use

Theoretical Best

Industrial

$11.36M

$9.94M – $13.26M (±1% cap)

NOI $795,446 @ 7.0% cap · market cap 12.73%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Shopping centers

Suggested Use

Top Pick Building Supply Big Box & Wholesale Store Electrical Service Storage Facility Garden Center Nail Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

45

Businesses Nearby

Well-served

Demand for This Use

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 Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

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Frequently Asked Questions

What type of property is this?

Shopping center - Retail development under construction with a committed tenant, additional space under LOI, and shell delivery scheduled for 2027.

Where is this shopping center located?

The property is located at 1350 S Preston Road Celina, TX.

What is the asking price?

The asking price for this property is $6,250,000.

What are key features of this property?

This property features: 11,436 SF new‑construction retail development; 3,345 SF leased to Mission Pet Health under a 10‑year term; 2,500 SF under LOI with India Today Restaurant