Leased Office Condo with Four
For Sale
$419,000
2601 Little Elm Parkway #602 602, Little Elm, TX 75068
Four private offices, a reception area, and a break room support daily professional use.
Property Size1,250 SF
Price / SF$335.20
Days on Market40
Property Features for 2601 Little Elm Parkway #602 602
General Information
Standard status
Active
Size
1,250 SF
Property subtype
CommercialSale
Additional Details
Office Units
1
Building Details
Tenancy
Single
Listing Agency:
Keller Williams Frisco Stars
(972) 712-9898
Listed By:
Swati Shah · License #0606077
Source:
Dallashighrisecondo
Added: Jul 22
Changed: Aug 28
Last Checked: Aug 29 at 9:25AM
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 Keller Williams Frisco Stars
Investment Insights
Based on property information with market context.
This 1,250 SF office condo at 2601 Little Elm Parkway, Suite 602, is currently leased and arranged for professional office operations. The layout includes four private offices, a reception area, and a break room with wood cabinetry, granite countertops, and designated space for a refrigerator and microwave. The offices can also serve as meeting or conference rooms.
The unit is near FM 423 in Little Elm, within the Little Elm–Frisco corridor. An individually metered HVAC system provides unit-level control. The HOA covers exterior maintenance, water, sewer, trash, CAM, and building insurance, reducing the owner’s direct responsibility for these property costs.
The unit is near FM 423 in Little Elm, within the Little Elm–Frisco corridor. An individually metered HVAC system provides unit-level control. The HOA covers exterior maintenance, water, sewer, trash, CAM, and building insurance, reducing the owner’s direct responsibility for these property costs.
Key Highlights
- 1,250 SF office condo currently leased
- Four private offices plus reception area
- Break room with wood cabinetry and granite countertops
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,381
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.15%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$347,620
$347.6K
Cap Rate 7%
$248,300
$248.3K
Cap Rate 9%
$193,122
$193.1K
Market Conditions
NOI Build-Up for 1,250 SF
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.
Gross rent
$30.9K $24.72/SF
− Vacancy
−$7.7K −$6.18/SF
EGI
$23.2K $18.54/SF
− OpEx
−$5.8K −$4.64/SF
NOI
$17.4K $13.91/SF
Area
Denton County, TX
Vacancy
25.00%
Lease Rate
$24.72 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$347,620
Cap Rate 7%
$248,300
Cap Rate 9%
$193,122
Alternative Uses
Best Use
Office B
$248.3K
$217.3K – $289.7K
NOI $17,381 @ 7.0% cap · market cap 4.15%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$17.48M
$15.30M – $20.39M
NOI $1,223,637 @ 7.0% cap · market cap 292.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
80
Businesses Nearby
Explore this area
Business Placement
Demographics for 75068, TX
66,248
Population
23,499
Households
2.8
Avg Household Size
34
Median Age
43%
College-Educated
92%
High-School Grad
27.9 sq mi
ZIP Area
2,374
Density / Sq Mi
$126,341
Median Household Income
$66,559
Median Earnings
$2,161
Median Rent
$386,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Four private offices, a reception area, and a break room support daily professional use.
Where is this office units located?
The property is located at 2601 Little Elm Parkway #602 602 Little Elm, TX.
What is the asking price?
The asking price for this property is $419,000.
What are key features of this property?
This property features: 1,250 SF office condo currently leased; Four private offices plus reception area; Break room with wood cabinetry and granite countertops
