New-Construction Retail
For Sale
Contact for pricing
1350 S Preston Road, Celina, TX 75009
Retail development under construction with a committed tenant, additional space under LOI, and shell delivery scheduled for 2027.
Property Size11,436 SF
Price / SF$546.52
Days on Market14
Property Features for 1350 S Preston Road
General Information
Standard status
Active
Size
11,436 SF
Class
A
Property subtype
Retail
Occupancy
29%
Lease Type
NNN
Investment Type
Value Add
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
2026
Tenancy
Multi
Listing Agency:
Equitify
Listed By:
Hisham Ahmad · License #841661-SA
(972) 345-2062
Source:
Crexi
Added: Aug 21
Changed: Sep 1
Last Checked: Sep 1 at 9:59PM
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
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.
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 = 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
$184,010
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
2.94%
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%
$3,680,200
$3.7M
Cap Rate 7%
$2,628,714
$2.6M
Cap Rate 9%
$2,044,556
$2.0M
Market Conditions
NOI Build-Up for 11,436 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
$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 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%
$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
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
NOI $795,446 @ 7.0% cap · market cap 12.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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
