Corner Medical Office
New
For Sale
$1,044,000
2120 Prairie Drive, Prosper, TX 75078
SINGLE_FAMILY - Prosper, TX
Property Size2,374 SF
Lot Size0.05 Acres
Price / SF$439.76
Days on Market1
Property Features for 2120 Prairie Drive
General Information
Property type
Residential
Property subtype
Office
Property condition
Under Construction
Zoning description
Class B - New! One level. Suburb. Minutes from shopping, dining and entertainment. Medical, Professional
Subdivision
THE OFFICES AT PROSPER 380
Directions
SEE GPS
Standard status
Active
Lot size
0.05 Acres
Taxes and HOA fees
Tax Description
THE OFFICES AT PROSPER 380 (CPR), BLDG 9, UNIT 901
Legal Description
THE OFFICES AT PROSPER 380 (CPR), BLDG 9, UNIT 901
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Public
Amenities
Professional Facade Signage
Building Details
Year built
2026
Floors in Building
1
Number of units
2
Flooring type
Vinyl
Building materials
Brick, StoneVeneer, Stucco
Roof type
Composition
Listing Agency:
REKonnection, LLC
(972) 914-0989
Listed By:
Amit Mahadar · License #0754810
Added: Aug 13
Last Checked: Aug 13 at 9:06AM
MLS# 21357299
Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Units 901 and 902 are combined into a 2,374-square-foot medical office suite in an end-cap corner position. The planned layout includes a reception area, conference rooms, two kitchens, multiple private restrooms, private offices, and up to four exam rooms. Clinical rooms include dedicated sinks, while large windows provide natural light throughout much of the suite.
The property is under construction with a 2026 year built and is approved for medical use. Building materials include brick, stone veneer, and stucco, with vinyl flooring, central electric heating, central air conditioning, public water, and public sewer. The suite provides access to the Dallas North Tollway and HWY 380, with professional facade signage opportunities identified in the property information.
The property is under construction with a 2026 year built and is approved for medical use. Building materials include brick, stone veneer, and stucco, with vinyl flooring, central electric heating, central air conditioning, public water, and public sewer. The suite provides access to the Dallas North Tollway and HWY 380, with professional facade signage opportunities identified in the property information.
Key Highlights
- 2,374‑square‑foot contiguous suite combining Units 901 and 902
- End‑cap corner position in Building One
- Approved for medical use
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
$33,011
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
3.16%
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%
$660,220
$660.2K
Cap Rate 7%
$471,586
$471.6K
Cap Rate 9%
$366,789
$366.8K
Market Conditions
NOI Build-Up for 2,374 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
$61.8K $26.04/SF
− Vacancy
−$6.8K −$2.86/SF
EGI
$55.0K $23.18/SF
− OpEx
−$22.0K −$9.27/SF
NOI
$33.0K $13.91/SF
Area
Collin County, TX
Vacancy
11.00%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
40.00%
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%
$660,220
Cap Rate 7%
$471,586
Cap Rate 9%
$366,789
Alternative Uses
Best Use
Healthcare Medical
$471.6K
$412.6K – $550.2K
NOI $33,011 @ 7.0% cap · market cap 3.16%
Second Best
Office B
$430.1K
$376.3K – $501.8K
NOI $30,107 @ 7.0% cap · market cap 2.88%
Theoretical Best
Industrial
$2.36M
$2.06M – $2.75M
NOI $165,127 @ 7.0% cap · market cap 15.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
141
Businesses Nearby
Explore this area
Business Placement
Demographics for 75078, TX
38,980
Population
14,409
Households
2.7
Avg Household Size
34
Median Age
63%
College-Educated
97%
High-School Grad
31.6 sq mi
ZIP Area
1,234
Density / Sq Mi
$187,634
Median Household Income
$82,714
Median Earnings
$2,284
Median Rent
$650,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Under-construction end-cap space includes exam rooms, private offices, and dedicated clinical sinks.
Where is this medical office space located?
The property is located at 2120 Prairie Drive Prosper, TX.
What is the asking price?
The asking price for this property is $1,044,000.
What are key features of this property?
This property features: 2,374‑square‑foot contiguous suite combining Units 901 and 902; End‑cap corner position in Building One; Approved for medical use
