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    Versatile Commercial Property in Downtown Princeton Title is generated by Realmo AI

    213 McKinney Avenue, Princeton, TX 75407

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    Claim this Listing
    For Sale
    $550,000

    Fully renovated commercial property ideal for various business ventures.

    Type:Commercial
    Property size:
    1,800 SF
    Lot size:
    0.50 Acres
    Price / SF:
    $305/SF
    Added:
    Apr 22, 2026
    Days on Market:
    52
    Last Refresh:
    Apr 22 at 5:15 pm

    Property Features for 213 McKinney Avenue

    General Information

    Standard status
    Active
    Size
    1,800 SF
    Lot size
    0.50 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1952

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    Listing Contact
    Angela Harwell

    Listing agent Angela Harwell

    Listing office Coldwell Banker Apex, REALTORS

    Listing date Apr 22, 2026

    Source Signaturere

    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 Coldwell Banker Apex, REALTORS

    HighLights

    • Fully permitted commercial conversion on almost half an acre in the downtown district.
    • Completely rebuilt interior with new foundation, framing, walls, bathrooms, electrical, and plumbing.
    • Strategic corner location at McKinney Avenue and N 3rd Street with high visibility and accessibility.
    • Ready for immediate occupancy with minimal downtime and upfront capital expenditures.
    • Equipped with kitchen, two restrooms, tankless gas water heater, washer/dryer connections, and shampoo bowl connections.
    • Suitable for various uses: salon/spa, retail, cafe, office, short‑term residential, or future redevelopment.

    Overview

    This property, situated on almost a half an acre, offers approximately 1800 SF of space. It has been fully permitted and transitioned from residential to commercial use, presenting an opportunity for immediate occupancy or investment. The interior has been completely rebuilt from the ground up, featuring a new foundation, framing, walls, bathrooms, electrical, and plumbing. This delivers an almost new asset with no deferred maintenance. Every interior component is newly constructed, minimizing downtime and upfront capital expenditures. The recent renovation was performed for a spa-salon-massage therapy business and includes a kitchen, two restrooms, a tankless gas water heater, washer and dryer connections, two shampoo bowl connections, a partially completed shower, ample storage areas, and a waiting area. It also features three points of entry and a parking area. Strategically positioned in the downtown district at the southwest corner of McKinney Avenue and N 3rd Street, the site benefits from strong visibility, accessibility, and corner presence. This property is ideal for a salon spa, retail boutique, café, office, short-term residential such as an AirBnB, or future redevelopment, offering both immediate functionality and long-term upside in a high-exposure location.

    Local Financial Insights For Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $43.4k $24.12
    − Vacancy −$2.0k −$1.13
    EGI $41.4k $22.99
    − OpEx −$12.4k −$6.90
    NOI $29.0k $16.09
    1,800 SF · lease $24.12/SF/yr · vacancy 4.70% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $413.8K
    $362.0K – $482.7K (±1% cap)
    NOI $28,963 @ 7.0% cap · market cap 5.27%
    Second Best
    Apartment 5plus
    $391.0K
    $342.1K – $456.2K (±1% cap)
    NOI $27,371 @ 7.0% cap · market cap 4.98%
    Theoretical Best
    Industrial
    $1.79M
    $1.57M – $2.09M (±1% cap)
    NOI $125,201 @ 7.0% cap · market cap 22.76%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Spa & wellness properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Princeton
    County
    Collin
    State
    Texas
    Longitude
    -96.4992302
    Latitude
    33.1806255

    FAQs

    What type of property is this?
    Spa & wellness property - Fully renovated commercial property ideal for various business ventures.
    Where is this spa & wellness property located?
    The property is located at 213 McKinney Avenue Princeton, TX.
    What is the asking price?
    The asking price for this property is $550,000.
    What are key features of this property?
    This property features: Fully permitted commercial conversion on almost half an acre in the downtown district.; Completely rebuilt interior with new foundation, framing, walls, bathrooms, electrical, and plumbing.; **Strategic corner location at McKinney Avenue and N 3rd Street with high visibility and accessibility.**
    More about this property
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