Modern Office Building with
New
For Sale
$1,800,000
299 Eldorado Parkway, McKinney, TX 75069
Professional office property with flexible interiors, supplemental storage, dedicated parking, and a wooded park outlook.
Property Size4,916 SF
Price / SF$360
Days on Market2
Property Features for 299 Eldorado Parkway
General Information
Standard status
Active
Size
4,916 SF
Total Parking Spaces
12
Property subtype
Commercial
Zoning
Commercial Office
Additional Details
Highway Access
Yes
Amenities
patio
Building Details
Building Size
4,916 SF
Year Built
2020
Buildings
1
Stories
1
Units
1
Construction
modern farmhouse
Listing Agency:
OnDemand Realty
(469) 766-5738
Listed By:
Bill Oglesby · License #0727408
(469) 766-5738
Source:
Cornerstonehomeandranch
Added: Aug 9
Changed: Aug 10
Last Checked: Aug 10 at 6:54AM
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 OnDemand Realty
Investment Insights
Based on property information with market context.
This 5,000-square-foot office building combines a modern farmhouse exterior with an open interior layout and high-quality finishes. More than 800 square feet of supplemental storage provides room for offices, meeting areas, or other work functions. A patio at the rear looks toward the wooded setting of Wilson Creek Park, adding an outdoor amenity for staff and visitors.
The property is located at 299 Eldorado Parkway in McKinney, near major freeways, Historic Downtown McKinney Square, and McKinney National Airport. Twelve dedicated parking spaces are positioned directly in front of the building, with additional parking behind it. The property is designated Commercial Office and offers a newer office setting for professional operations or an owner-user.
The property is located at 299 Eldorado Parkway in McKinney, near major freeways, Historic Downtown McKinney Square, and McKinney National Airport. Twelve dedicated parking spaces are positioned directly in front of the building, with additional parking behind it. The property is designated Commercial Office and offers a newer office setting for professional operations or an owner-user.
Key Highlights
- 5,000 sq ft modern farmhouse‑style office building
- More than 800 square feet of additional storage space
- Patio overlooking the wooded Wilson Creek Park setting
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
$64,233
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
3.57%
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%
$1,284,660
$1.3M
Cap Rate 7%
$917,614
$917.6K
Cap Rate 9%
$713,700
$713.7K
Market Conditions
NOI Build-Up for 5,000 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
$109.8K $21.96/SF
− Vacancy
−$24.2K −$4.83/SF
EGI
$85.6K $17.13/SF
− OpEx
−$21.4K −$4.28/SF
NOI
$64.2K $12.85/SF
Area
McKinney, TX
Vacancy
22.00%
Lease Rate
$21.96 /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%
$1,284,660
Cap Rate 7%
$917,614
Cap Rate 9%
$713,700
Alternative Uses
Best Use
Office B
$917.6K
$802.9K – $1.07M
NOI $64,233 @ 7.0% cap · market cap 3.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.41M
$1.23M – $1.64M
NOI $98,400 @ 7.0% cap · market cap 5.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
291
Businesses Nearby
Explore this area
Business Placement
Demographics for 75069, TX
39,084
Population
16,958
Households
2.3
Avg Household Size
38
Median Age
37%
College-Educated
88%
High-School Grad
33.7 sq mi
ZIP Area
1,160
Density / Sq Mi
$82,804
Median Household Income
$42,816
Median Earnings
$1,530
Median Rent
$413,700
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 building - Professional office property with flexible interiors, supplemental storage, dedicated parking, and a wooded park outlook.
Where is this office building located?
The property is located at 299 Eldorado Parkway McKinney, TX.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: 5,000 sq ft modern farmhouse‑style office building; More than 800 square feet of additional storage space; Patio overlooking the wooded Wilson Creek Park setting
