Elm Ridge Office Condo
2601 Little Elm Parkway #602 Little Elm, TX 75068
For Sale
$425,000
1,250 SF office condo in Little Elm, Texas.
Property Size1,225 SF
Price / SF$346.94
Days on Market97
Property Features for 2601 Little Elm Parkway #602
General Information
Standard status
Active
Size
1,225 SF
Property subtype
Commercial
Building Details
Year Built
2019
Listing Agency:
Keller Williams Frisco Stars
(214) 923-0563
Listed By:
Swati Shah · License #0606077
(214) 923-0563
Source:
Signaturere
Added: Apr 22
Changed: Jul 10
Last Checked: Jul 26 at 4:09PM
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 is located in the Elm Ridge Office Complex, near FM 423 in Little Elm, within the Frisco corridor. The space includes four private offices, a reception area, and a break room. Each office is generously sized and can also function as a meeting or conference room. The break room features wood cabinetry, granite countertops, and space for a refrigerator and microwave. The Home Owners Association (HOA) covers exterior maintenance, water, sewer, trash, CAM, and building insurance. The unit also includes an individually metered HVAC system. The property is currently leased with a tenant, offering income for investors. This property presents an opportunity for investors seeking income in a North Texas location.
Key Highlights
- Immediate income from a stable tenant already in place.
- Located in the rapidly growing Little Elm/Frisco corridor near FM 423.
- HOA covers exterior maintenance, water, sewer, trash, CAM, and building insurance.
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 | $30.3k | $24.72 |
| − Vacancy | −$7.6k | −$6.18 |
| EGI | $22.7k | $18.54 |
| − OpEx | −$5.7k | −$4.64 |
| NOI | $17.0k | $13.91 |
1,225 SF · lease $24.72/SF/yr · vacancy 25.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$243.3K
$212.9K – $283.9K
NOI $17,034 @ 7.0% cap · market cap 4.01%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$17.13M
$14.99M – $19.99M
NOI $1,199,164 @ 7.0% cap · market cap 282.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office units - 1,250 SF office condo in Little Elm, Texas.
Where is this office units located?
The property is located at 2601 Little Elm Parkway #602 Little Elm, TX.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Immediate income from a stable tenant already in place.; Located in the rapidly growing Little Elm/Frisco corridor near FM 423.; HOA covers exterior maintenance, water, sewer, trash, CAM, and building insurance.
