15602 State Highway 160, Blue Ridge, TX 75424

Building Details

Year Built 2019 More

Buildings 3 More

Listing Agency: Sarah Boyd & Co

Listed By: Jennifer Boyd · License TX #0650747 Show Phone

Source: Minteerteam

Added: Aug 15 Changed: Nov 9 Last Checked: Oct 7 at 1:00PM

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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 Sarah Boyd & Co

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Investment Insights

Based on property information with market context.

This 4-acre flex property contains three separate shop buildings totaling 10,600 square feet. Each building combines office, bathroom, and warehouse areas. Shop 1 measures 2,400 square feet and was built in 2019; Shop 2 contains 3,200 square feet and dates to 2021; Shop 3 offers 5,000 square feet and was completed in 2024. The first two shops each have one tenant, while the third is shared by two tenants.

The site is fenced and gated, with road frontage on Highway 160 and an address outside city limits. The property is near shopping and restaurants, approximately 10 minutes from the Melissa and Anna area, 30 minutes from McKinney, and one hour from DFW International Airport. The site also includes room for another shop or additional parking, with the highway frontage continuing along the property.

Key Highlights

• 4‑acre flex property with 10,600 square feet across 3 separate shops
• Highway 160 road frontage with a fenced and gated site
• Shop sizes of 2,400 sqft, 3,200 sqft, and 5,000 sqft

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$134,428

Cap Rate

5.79%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,688,560 $2.7M

Cap Rate 7%

$1,920,400 $1.9M

Cap Rate 9%

$1,493,644 $1.5M

Is this asking price fair?

Market Conditions

NOI Build-Up for 10,600 SF

Gross rent

$232.8K $21.96/SF

− Vacancy

−$53.5K −$5.05/SF

EGI

$179.2K $16.91/SF

− OpEx

−$44.8K −$4.23/SF

NOI

$134.4K $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%

$2,688,560

Cap Rate 7%

$1,920,400

Cap Rate 9%

$1,493,644

Alternative Uses

Best Use

Office B

$1.92M

$1.68M – $2.24M (±1% cap)

NOI $134,428 @ 7.0% cap · market cap 5.79%

Second Best

Flex RnD

$1.11M

$971.5K – $1.30M (±1% cap)

NOI $77,719 @ 7.0% cap · market cap 3.35%

Theoretical Best

Multifamily LT 5

$2.66M

$2.33M – $3.11M (±1% cap)

NOI $186,385 @ 7.0% cap · market cap 8.03%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Flex space

Suggested Use

Top Pick Building Supply Grocery & Convenience Store Big Box & Wholesale Store Kitchen & Bath Showroom Auto Repair Shop Shopping Center & Mall

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

Fenced yard

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

20

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

Average Price Trend$/SF for Flex space in Collin County, TX

$475 Jul

$307 Aug

$334 Sep

$325 Oct

Properties on Market for Flex space in Collin County

Jul

Aug

Sep

Oct

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 - Three separate shops provide offices, bathrooms, and warehouse areas across a multi-building commercial property.

Where is this flex space located?

The property is located at 15602 State Highway 160 Blue Ridge, TX.

What is the asking price?

The asking price for this property is $2,320,000.

What are key features of this property?

This property features: 4‑acre flex property with 10,600 square feet across 3 separate shops; Highway 160 road frontage with a fenced and gated site; Shop sizes of 2,400 sqft, 3,200 sqft, and 5,000 sqft