Building Details

Building Size 3,800 SF

Year Built 2004

Stories 1

Units 1

Listing Agency: Texas Premier Realty

Listed By: Mike Mahoney Show Phone

Source: Elliman

Added: Nov 27, 2025 Changed: Oct 5 Last Checked: Oct 16 at 9:41AM

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This property features a 1.43-acre lot with a 3,800-square-foot shop and office building. The property is located at the intersection of Highway 121 and State Highway 160. The property is currently under lease through the remainder of 2025.

Key Highlights

• 1.43 acre lot at the intersection of Highway 121 and State Highway 160
• 3800 square foot Shop and Office building**
• Property built in 2004

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$48,191

Cap Rate

3.57%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$963,820 $963.8K

Cap Rate 7%

$688,443 $688.4K

Cap Rate 9%

$535,456 $535.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,800 SF

Gross rent

$83.4K $21.96/SF

− Vacancy

−$19.2K −$5.05/SF

EGI

$64.3K $16.91/SF

− OpEx

−$16.1K −$4.23/SF

NOI

$48.2K $12.68/SF

Area

Collin County, TX

Vacancy

23.00%

Lease Rate

$21.96 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$963,820

Cap Rate 7%

$688,443

Cap Rate 9%

$535,456

Alternative Uses

Best Use

Industrial

$3.78M

$3.30M – $4.41M (±1% cap)

NOI $264,314 @ 7.0% cap · market cap 19.58%

Second Best

Office B

$688.4K

$602.4K – $803.2K (±1% cap)

NOI $48,191 @ 7.0% cap · market cap 3.57%

Theoretical Best

—

—

same as Best Use

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

Property Analytics

Current Use

Flex space

Location Intelligence

Trade Area within ½ mile

23

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 75424, TX

4,517

Population

1,387

Households

3.3

Avg Household Size

38

Median Age

18%

College-Educated

87%

High-School Grad

63.6 sq mi

ZIP Area

71

Density / Sq Mi

$82,974

Median Household Income

$45,875

Median Earnings

$1,563

Median Rent

$302,600

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - 1.43 acre lot with 3,800 SF shop/office for sale.

Where is this flex space located?

The property is located at 15550 160 Hwy Blue Ridge, TX.

What is the asking price?

The asking price for this property is $1,350,000.

What are key features of this property?

This property features: 1.43 acre lot at the intersection of Highway 121 and State Highway 160; 3800 square foot Shop and Office building**; Property built in 2004