Strip Mall with Flex
For Sale
Contact for pricing
2035 Central Circle, McKinney, TX 75069
Two adjoining buildings combine retail, office, and warehouse suites with shared loading access and roll-up doors.
Property Size46,276 SF
Lot Size4.50 Acres
Price / SF$182.06
Days on Market150
Property Features for 2035 Central Circle
General Information
Standard status
Active
Size
46,276 SF
Lot size
4.50 Acres
Property subtype
Retail
Occupancy
99%
Lease Type
Modified Gross
Investment Type
Stabilized
Net Operating Income
$547,629
Additional Details
Cap Rate
6.5%
Building Details
Year Built
2002
Buildings
2
Stories
1
Units
18
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Dallas
(972) 755-5225
Listed By:
Philip Levy · License #TX 522087
Source:
Crexi
Added: Apr 3
Changed: Aug 30
Last Checked: May 8 at 9:55AM
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 Marcus & Millichap - Dallas
Investment Insights
Based on property information with market context.
Central Circle Center is a 46,276-square-foot commercial property consisting of two adjoining buildings with a blend of retail, office, and flex/warehouse suites. The 2035 Central Circle building includes second-story office lofts, while individual suites feature rear roll-up bay doors. A shared loading area provides both grade-level and dock-high access for occupants.
The property spans two parcels totaling 4.5 acres at 2035 Central Cir in McKinney, Texas. It is 99 percent leased and includes a mix of gross and modified gross lease structures. The surrounding commercial area includes Bray Central Business Park, Walmart, Sam's Club, Academy Sports and Outdoors, Target, Lowe's, and Dollar Tree. The buildings were constructed in 2000.
The property spans two parcels totaling 4.5 acres at 2035 Central Cir in McKinney, Texas. It is 99 percent leased and includes a mix of gross and modified gross lease structures. The surrounding commercial area includes Bray Central Business Park, Walmart, Sam's Club, Academy Sports and Outdoors, Target, Lowe's, and Dollar Tree. The buildings were constructed in 2000.
Key Highlights
- 46,276‑square‑foot center comprising two adjoining buildings
- 99 percent leased across retail, office, and flex/warehouse suites
- Two parcels totaling 4.5 acres at 2035 Central Cir, McKinney, TX 75069
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
$743,820
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
8.83%
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%
$14,876,400
$14.9M
Cap Rate 7%
$10,626,000
$10.6M
Cap Rate 9%
$8,264,667
$8.3M
Market Conditions
NOI Build-Up for 46,276 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
$1.12M $24.12/SF
− Vacancy
−$53.6K −$1.16/SF
EGI
$1.06M $22.96/SF
− OpEx
−$318.8K −$6.89/SF
NOI
$743.8K $16.07/SF
Area
McKinney, TX
Vacancy
4.80%
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%
$14,876,400
Cap Rate 7%
$10,626,000
Cap Rate 9%
$8,264,667
Alternative Uses
Best Use
Retail
$10.63M
$9.30M – $12.40M
NOI $743,820 @ 7.0% cap · market cap 8.83%
Second Best
Flex RnD
$4.85M
$4.24M – $5.65M
NOI $339,296 @ 7.0% cap · market cap 4.03%
Theoretical Best
Office A
$13.01M
$11.38M – $15.18M
NOI $910,712 @ 7.0% cap · market cap 10.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,078
Businesses Nearby
Explore this area
Business Placement
Demographics for 75069, TX
39,084
Population
16,958
Households
2.3
Avg Household Size
38
Median Age
37%
College-Educated
88%
High-School Grad
33.7 sq mi
ZIP Area
1,160
Density / Sq Mi
$82,804
Median Household Income
$42,816
Median Earnings
$1,530
Median Rent
$413,700
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Two adjoining buildings combine retail, office, and warehouse suites with shared loading access and roll-up doors.
Where is this strip mall located?
The property is located at 2035 Central Circle McKinney, TX.
What is the asking price?
The asking price for this property is $8,425,000.
What are key features of this property?
This property features: 46,276‑square‑foot center comprising two adjoining buildings; 99 percent leased across retail, office, and flex/warehouse suites; Two parcels totaling 4.5 acres at 2035 Central Cir, McKinney, TX 75069
