Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2750 State Hwy 121 Melissa, TX

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    22-acre mixed-use development opportunity in rapidly growing Melissa, Texas.

    Type:RETAIL
    Property size:
    7,600 SF
    Lot size:
    21.46 Acres
    Added:
    Oct 17, 2023
    Days on Market:
    921
    Last Refresh:
    Apr 5 at 9:37 pm

    Property Features for 2750 State Hwy 121

    General Information

    Standard status
    Active
    Size
    7,600 SF
    Lot size
    21.46 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 2750 State Hwy 121 Contact us

    We can help!

    Listing Contact
    Ashtyn Hicks
    Ashtyn Hicks

    Listing agent Ashtyn Hicks

    Listing office The Retail Connection | Dallas

    Listing date Oct 17, 2023

    Source Moodyscre

    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 The Retail Connection | Dallas

    Overview

    Proposed Mixed-Use Development in Melissa

    Melissa Park Village is a proposed 22-acre mixed-use development situated in Melissa, north of McKinney. Melissa is an affluent suburb experiencing rapid growth at an annual rate of 18.19%, with its population having increased by over 65% since the last census, ranking as the 7th-fastest growing city in Texas. Melissa ISD is recognized as one of the top Independent School Districts in Texas. The location offers visibility and access from TX-121 and proximity to residential and commercial developments. The property is located across from the new Kroger development at the lighted intersection of 121 and Liberty Way. This presents an opportunity for retail, restaurant, and medical users.
    Location Intelligence

    Current Use by Public Records

    Shopping centers

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Melissa
    County
    Collin
    State
    Texas
    Longitude
    -96.5646
    Latitude
    33.2821

    Nearby Similar for Lease

    • $35 SF/Yr

      New Retail Spaces For Lease

      New retail spaces available in a high-growth Texas community.
      3115 Milrany Ln, Melissa, TX
      View Details
    • $38 SF/Yr

      Retail Space in Melissa, Texas

      Retail space available in a high-traffic area with ample parking.
      3114-3116 McKinney St, Melissa, TX
      View Details
    • $30 SF/Yr

      Retail, Medical, and Office Space

      New retail, medical, and office building near major highways.
      McKinney St & W Fannin Rd, Melissa, TX
      View Details
    • Contact for pricing

      Retail Space in Growing City

      Retail property with high visibility and easy access.
      2211 Central Expy, Melissa, TX
      View Details
    • $38 SF/Yr

      Retail Strip Center For Lease

      Retail strip center with highway frontage, estimated delivery Q2 2027.
      2401 McKinney St, Melissa, TX 75454
      View Details
    • Contact for pricing

      Retail, Medical, and Office Space

      New building near highways with restaurant space and entertainment area.
      1502 Harrison St, Melissa, TX
      View Details
    • Contact for pricing

      Retail, Medical, and Office Space

      New retail space near 121 & 75 in Melissa, TX.
      2903 McKinney St, Melissa, TX
      View Details
    • Contact for pricing

      Retail Space on Sam Rayburn

      Retail space with high traffic and convenient access.
      3022 Sam Rayburn Hwy, Melissa, TX
      View Details
    • Contact for pricing

      Retail Building Available Fall 2024

      6,300 SF retail building available in Fall 2024.
      2206 River Trl, Melissa, TX
      View Details
    • Contact for pricing

      Retail/Restaurant Space Near HEB, Buc-ee's

      Shell space available near HEB and Buc-ee's.
      340 Bucees Blvd, Melissa, TX
      View Details
    • Contact for pricing

      Retail/Restaurant Space Near Future HEB

      Retail/Restaurant space available for lease near future HEB.
      1831 E Melissa Rd, Melissa, TX
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      Retail space available, 6,300 SqFt, Melissa, TX.
      SWQ Melissa Rd & TX-5, Melissa, TX 75454
      View Details

    FAQs

    What type of property is this?
    Shopping center - 22-acre mixed-use development opportunity in rapidly growing Melissa, Texas.
    Where is this shopping center located?
    The property is located at 2750 State Hwy 121 Melissa, TX.
    What are key features of this property?
    This property features: Located in Melissa, the 7th fastest‑growing city in Texas with an 18.19% annual growth rate.; Excellent visibility and access from TX‑121.; Situated across from a new Kroger development at a lighted intersection.
    (214) 572-0777 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Ashtyn Hicks
    Ashtyn Hicks
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!