Renovated Office
For Sale
$550,000
213 Mckinney Avenue, Princeton, TX 75407
CommercialSale, Princeton, TX
Property Size1,800 SF
Lot Size0.22 Acres
Price / SF$305.56
Days on Market101
Property Features for 213 Mckinney Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
SF-1 / DT-C (Downtown Core) City of Princeton
Accessibility
Accessible Approach with Ramp
Subdivision
Princeton Original Donation
Directions
From McKinney, travel east on US-380 to 2nd Street and turn north. Travel 4 blocks north to McKinney Avenue and turn east. Property will be on your right, at the SWC of McKinney Avenue and N Third Street.
Standard status
Active
APN
R0952013001R1
Lot size
0.22 Acres
Taxes and HOA fees
Tax Description
PRINCETON ORIGINAL DONATION (CPN), BLK 13, LO
Tax Annual Amount
4138
Legal Description
PRINCETON ORIGINAL DONATION (CPN), BLK 13, LO
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Electric, Central Air
Water source
Public
Amenities
kitchen
ample storage areas
waiting area
three points of entry
Building Details
Year built
1952
Floors in Building
1
Number of units
1
Flooring type
Vinyl
Building materials
Frame, WoodSiding
Roof type
Shingle, Composition
Listing Agency:
Coldwell Banker Apex, REALTORS
Listed By:
Angela Harwell
(972) 727-3377
Added: Jul 11
Changed: Oct 19
Last Checked: Oct 19 at 7:06PM
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.
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Investment Insights
Based on property information with market context.
This office unit has been fully permitted for commercial use following a comprehensive interior renovation. The work included new foundation, framing, walls, bathrooms, electrical, and plumbing, along with vinyl flooring, central heating, and central air conditioning. The layout includes a kitchen, two restrooms, waiting area, storage, three points of entry, washer and dryer connections, two shampoo bowl connections, and a partially completed shower. A tankless gas water heater is also installed.
The property occupies a corner position at McKinney Avenue and N 3rd Street in the downtown district of Princeton. Public water and public sewer serve the property, and an accessible approach with ramp provides entry. The site includes a parking area and is configured for commercial occupancy following its transition from residential use.
The property occupies a corner position at McKinney Avenue and N 3rd Street in the downtown district of Princeton. Public water and public sewer serve the property, and an accessible approach with ramp provides entry. The site includes a parking area and is configured for commercial occupancy following its transition from residential use.
Key Highlights
- Fully permitted transition from residential to commercial use
- Extensive renovation includes new foundation, framing, walls, bathrooms, electrical, and plumbing
- Corner location at McKinney Avenue and N 3rd Street in downtown Princeton
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,827
Cap Rate
4.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$456,540
$456.5K
Cap Rate 7%
$326,100
$326.1K
Cap Rate 9%
$253,633
$253.6K
Market Conditions
NOI Build-Up for 1,800 SF
Gross rent
$39.5K $21.96/SF
− Vacancy
−$9.1K −$5.05/SF
EGI
$30.4K $16.91/SF
− OpEx
−$7.6K −$4.23/SF
NOI
$22.8K $12.68/SF
Area
Collin County, TX
Vacancy
23.00%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$456,540
Cap Rate 7%
$326,100
Cap Rate 9%
$253,633
Alternative Uses
Best Use
Office B
$326.1K
$285.3K – $380.5K
NOI $22,827 @ 7.0% cap · market cap 4.15%
Second Best
—
—
no second resolved use
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 authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
451
Businesses Nearby
Explore this area
Business Placement
Demographics for 75407, TX
25,738
Population
10,095
Households
2.5
Avg Household Size
32
Median Age
25%
College-Educated
89%
High-School Grad
49.9 sq mi
ZIP Area
516
Density / Sq Mi
$92,076
Median Household Income
$48,912
Median Earnings
$1,867
Median Rent
$307,500
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Permitted commercial space with updated systems, multiple entries, parking, and a layout suited to office occupancy.
Where is this office unit 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 transition from residential to commercial use; Extensive renovation includes new foundation, framing, walls, bathrooms, electrical, and plumbing; Corner location at McKinney Avenue and N 3rd Street in downtown Princeton
