Converted Office & Wellness
213 Mckinney Avenue Princeton, TX 75407
213 Mckinney Avenue, Princeton, TX, 75407
$550,000
For Sale
$550,000
SINGLE_FAMILY - Princeton, TX
Property Size1,800 SF
Lot Size0.22 Acres
Price / SF$305.56
Days on Market96
Property Features for 213 Mckinney Avenue
General Information
- Property type
- Residential
- Property subtype
- Office
- Accessibility
- Accessible Approach with Ramp
- 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
Utilities
- Sewer type
- Public Sewer
- Heating system
- Central
- Cooling system
- Electric, Central Air
- 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
- Shingle, Composition
Listing Agency
Coldwell Banker Apex, REALTORS
(972) 727-3377
Allen, TX
Listed by
Angela Harwell · License #681213
(972) 727-3377
Added: Apr 14 Checked: Jul 18 at 4:06 am
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.
Investment Insights
Based on property information with market context.
Located at 213 McKinney Avenue in Princeton, TX, this fully permitted property was transitioned from residential to commercial use and completely rebuilt from the ground up. The interior includes all-new foundation, framing, walls, bathrooms, electrical, and plumbing, with no deferred maintenance. The space is configured with a waiting area, a kitchen, two restrooms, and washer and dryer connections, along with a tankless gas water heater and storage areas. Additional features include two shampoo bowl connections, a partially completed shower, and three points of entry, plus a parking area.
The site sits on approximately 0.224 acres in the downtown district at the southwest corner of McKinney Avenue and N 3rd Street, providing corner presence with strong visibility and accessibility.
The recent renovation was performed for a spa-salon-massage therapy business, and the current layout supports immediate functionality for similar uses. Buyers should review the Commercial Property Condition Statement and Offering Memorandum and complete their own due diligence, including access to utilities and zoning confirmation.
The site sits on approximately 0.224 acres in the downtown district at the southwest corner of McKinney Avenue and N 3rd Street, providing corner presence with strong visibility and accessibility.
The recent renovation was performed for a spa-salon-massage therapy business, and the current layout supports immediate functionality for similar uses. Buyers should review the Commercial Property Condition Statement and Offering Memorandum and complete their own due diligence, including access to utilities and zoning confirmation.
Key Highlights
- Almost 0.5‑acre property with approximately 1,800 SF of interior space
- Fully permitted transition from residential to commercial use
- Completely rebuilt from the ground up with new foundation, framing, walls, bathrooms, electrical, and plumbing
Local Financial Insights For Office B
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 | $39.5k | $21.96 |
| − Vacancy | −$9.1k | −$5.05 |
| EGI | $30.4k | $16.91 |
| − OpEx | −$7.6k | −$4.23 |
| NOI | $22.8k | $12.68 |
1,800 SF · lease $21.96/SF/yr · vacancy 23.00% · expense 25.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Spa & wellness properties
Similar For Sale Nearby
FAQs
What type of property is this?
Spa & wellness property - Fully rebuilt property with waiting area, kitchen, two restrooms, and multiple entries, ready for immediate occupancy or conversion.
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: Almost 0.5‑acre property with approximately 1,800 SF of interior space; Fully permitted transition from residential to commercial use; Completely rebuilt from the ground up with new foundation, framing, walls, bathrooms, electrical, and plumbing
