Versatile Retail/Office Space
For Sale
Contact for pricing
26785 E University Dr, Aubrey, TX 76227
2,043 SF retail/office space in a high-traffic location.
Property Size2,043 SF
Price / SF$330
Days on Market149
Property Features for 26785 E University Dr
General Information
Standard status
Active
Size
2,043 SF
Property subtype
Retail, Office, Mixed Use
Building Details
Units
400
Listing Agency:
Perfect Realty Partners LLC
(469) 252-1261
Listed By:
Srinivas Chaluvadi · License #TX 0593565
Source:
Crexi
Added: Mar 17
Changed: Aug 8
Last Checked: Aug 8 at 6:44AM
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 Perfect Realty Partners LLC
Investment Insights
Based on property information with market context.
Located at PLAZA 380, 26785 E. University Dr, Suite 400, Aubrey, this 2,043 SF second-generation retail/office space is available for sale. Formerly a church, the space is suitable for various businesses, including a hair salon, physician's office, or fitness center. The property features HVAC, electrical, and plumbing systems. It is situated in a retail strip center on HWY 380 in the Little Elm area, near established residential communities and adjacent to Baylor Emergency Room, offering high visibility and accessibility. The property is listed at $330 per SF for sale.
Key Highlights
- High visibility location on HWY 380 in a busy retail strip center.
- Located adjacent to Baylor Emergency Room.
- Suitable for various businesses: hair salon, physician office, fitness center, etc.
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
$33,911
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
5.03%
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%
$678,220
$678.2K
Cap Rate 7%
$484,443
$484.4K
Cap Rate 9%
$376,789
$376.8K
Market Conditions
NOI Build-Up for 2,043 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
$51.0K $24.96/SF
− Vacancy
−$2.5K −$1.25/SF
EGI
$48.4K $23.71/SF
− OpEx
−$14.5K −$7.11/SF
NOI
$33.9K $16.60/SF
Area
Denton County, TX
Vacancy
5.00%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
30.00%
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%
$678,220
Cap Rate 7%
$484,443
Cap Rate 9%
$376,789
Alternative Uses
Best Use
Retail
$484.4K
$423.9K – $565.2K
NOI $33,911 @ 7.0% cap · market cap 5.03%
Second Best
Office B
$405.8K
$355.1K – $473.5K
NOI $28,408 @ 7.0% cap · market cap 4.21%
Theoretical Best
Multifamily LT 5
$28.57M
$25.00M – $33.33M
NOI $1,999,913 @ 7.0% cap · market cap 296.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
211
Businesses Nearby
Explore this area
Business Placement
Demographics for 76227, TX
47,118
Population
20,970
Households
2.2
Avg Household Size
33
Median Age
43%
College-Educated
96%
High-School Grad
78.4 sq mi
ZIP Area
601
Density / Sq Mi
$107,065
Median Household Income
$59,904
Median Earnings
$1,950
Median Rent
$376,200
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?
Retail space - 2,043 SF retail/office space in a high-traffic location.
Where is this retail space located?
The property is located at 26785 E University Dr Aubrey, TX.
What is the asking price?
The asking price for this property is $674,190.
What are key features of this property?
This property features: High visibility location on HWY 380 in a busy retail strip center.; Located adjacent to Baylor Emergency Room.; Suitable for various businesses: hair salon, physician office, fitness center, etc.
