Princeton Commercial Property For
213 Mckinney Avenue, Princeton, TX 75407
SINGLE_FAMILY - Princeton, TX
Type:Office
Property size:
1,800 SFLot size:
0.22 AcresPrice / SF:
$305/SF- Added:
- Apr 14, 2026
- Days on Market:
- 51
- Last Refresh:
- Jun 3 at 12:06 am
Property Features for 213 Mckinney Avenue
General Information
- Property type
- Residential
- Property subtype
- Office
- Accessibility
- Accessible Approach with Ramp
- Standard status
- Active
- APN
- R0952013001R1
- Size
- 1,800 SF
- Lot size
- 0.22 Acres
Taxes and HOA fees
- Tax Description
- PRINCETON ORIGINAL DONATION (CPN), BLK 13, LO
- Tax Annual Amount
- 4138
Utilities
- Sewer type
- Public Sewer
- Heating system
- Central
- Cooling system
- Central Air, Electric
- Water source
- Public
Building Details
- Year built
- 1952
- Floors in Building
- 1
- Number of units
- 1
- Flooring type
- Vinyl
- Building materials
- Frame, WoodSiding
- Roof type
- Composition, Shingle
Listing agent Angela Harwell License #0681213 (972) 727-3377
Listing office Coldwell Banker Apex, REALTORS Allen, TX (972) 727-3377
Listing date Apr 14, 2026
MLS# 21237080
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.
HighLights
- Fully Permitted Commercial Use: Offers immediate occupancy or investment opportunities.
- Completely Rebuilt: Features all‑new foundation, framing, walls, bathrooms, electrical, and plumbing.
- Strategic Downtown Location: High‑visibility corner in the downtown district.
- Ready for Immediate Occupancy: Minimizing downtime and upfront capital expenditures.
- Versatile Use Potential: Ideal for a salon spa, retail boutique, café, office, short‑term residential, or future redevelopment.
- Existing Infrastructure: Includes a kitchen, two restrooms, tankless gas water heater, washer and dryer connections, two shampoo bowl connections, a partially completed shower, ample storage areas, and waiting area.
Overview
Located on almost a half acre, this property offers approximately 1800 SF of space. It has been fully permitted and transitioned from residential to commercial use. The interior features a new foundation, framing, walls, bathrooms, electrical, and plumbing. The property 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. Positioned in the downtown district at the southwest corner of McKinney Avenue and N 3rd Street, the site benefits from visibility, accessibility, and corner presence. The property is suitable for a salon spa, retail boutique, café, office, short-term residential such as an AirBnB, or future redevelopment. The lot size is 0.224 acres. The property is located in Princeton, Collin County, Texas.
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.
Location Intelligence
Current Use by Public Records
Spa & wellness properties
Location Insight
- Map
- Local Demand
- City
- Princeton
- County
- Collin
- State
- Texas
- Longitude
- -96.498816
- Latitude
- 33.180695
Nearby Similar for Sale
FAQs
What type of property is this?
Spa & wellness property - Commercial property in downtown Princeton, TX, suitable for various businesses.
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 Use: Offers immediate occupancy or investment opportunities.; Completely Rebuilt: Features all‑new foundation, framing, walls, bathrooms, electrical, and plumbing.; Strategic Downtown Location: High‑visibility corner in the downtown district.
