Princeton Commercial Property on
213 McKinney Ave Princeton, TX 75407
Versatile 1,800 SF commercial space in prime downtown location.
Type:OFFICE
Property size:
1,800 SFLot size:
0.50 AcresPrice / SF:
$305/SF- Added:
- May 4, 2026
- Days on Market:
- 68
- Last Refresh:
- May 8 at 3:38 am
Property Features for 213 McKinney Ave
General Information
- Standard status
- Active
- Size
- 1,800 SF
- Lot size
- 0.50 Acres
- Property subtype
- OFFICE
Listing office Orion Commercial Realty Group (214) 578-0087
Listing date May 4, 2026
Source Moodyscre
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 Orion Commercial Realty Group
Investment Insights
Based on property information with market context.
This commercial property, situated on nearly half an acre, offers approximately 1,800 square feet of functional space. The interior has been completely rebuilt, including the foundation, framing, walls, electrical, plumbing, and bathrooms. The property features multiple entry points and on-site parking. Located on a prime downtown corner at McKinney Avenue and N Third St, it provides strong visibility and accessibility. The property is outfitted for spa or salon use, featuring a kitchen, two restrooms, a tankless gas water heater, washer and dryer connections, shampoo bowl hookups, a partial shower, a waiting area, and ample storage. It has been fully transitioned to commercial use with permits in place. This property is suitable for retail, office, short-term rental, or redevelopment opportunities. It is ideal for an owner-operator or tenant.
Key Highlights
- Prime downtown corner location at McKinney Avenue & N Third St. offering strong visibility and accessibility
- Completely rebuilt interior offering a 'like‑new' asset
- Fully transitioned to commercial use with permits in place
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
NOI $28,963 @ 7.0% cap · market cap 5.27%
Second Best
Apartment 5plus
$391.0K
$342.1K – $456.2K
NOI $27,371 @ 7.0% cap · market cap 4.98%
Theoretical Best
Industrial
$1.79M
$1.57M – $2.09M
NOI $125,201 @ 7.0% cap · market cap 22.76%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office Units
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - Versatile 1,800 SF commercial space in prime downtown location.
Where is this office units located?
The property is located at 213 McKinney Ave 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: Prime downtown corner location at McKinney Avenue & N Third St. offering strong visibility and accessibility; Completely rebuilt interior offering a 'like‑new' asset; Fully transitioned to commercial use with permits in place
