Office Building with Parkside
For Sale
$1,800,000
299 Eldorado Pkwy, McKinney, TX 75069
Open-plan professional space includes dedicated front parking and wooded views toward Wilson Creek Park.
Property Size5,000 SF
Price / SF$366.15
Days on Market40
Property Features for 299 Eldorado Pkwy
General Information
Standard status
Active
Size
5,000 SF
Total Parking Spaces
12
Additional Details
Highway Access
Yes
Amenities
patio
Building Details
Year Built
2020
Buildings
1
Building Size
5,000 SF
Construction
modern farmhouse
Listing Agency:
OnDemand Realty
(214) 766-5833
Listed By:
Bill Oglesby · License #0727408
Source:
Franzettirealestate
Added: Jul 21
Changed: Aug 28
Last Checked: Aug 25 at 4:39AM
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 office building in McKinney features modern farmhouse-style architecture, an open interior layout, and high-quality finishes suited to a range of professional uses. More than 800 square feet of additional storage provides flexible space for offices, meeting rooms, or specialized work areas. A patio extends the usable setting and overlooks the wooded surroundings of Wilson Creek Park.
The property includes twelve dedicated parking spaces directly in front of the building, with additional parking at the rear. Its position near major freeways, Historic Downtown McKinney Square, and McKinney National Airport provides access to key McKinney destinations and the broader Dallas–Fort Worth metroplex.
The property includes twelve dedicated parking spaces directly in front of the building, with additional parking at the rear. Its position near major freeways, Historic Downtown McKinney Square, and McKinney National Airport provides access to key McKinney destinations and the broader Dallas–Fort Worth metroplex.
Key Highlights
- Modern farmhouse‑style office building with an open interior layout
- More than 800 square feet of additional storage space
- Patio overlooking the wooded setting of Wilson Creek Park
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
$63,154
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
3.51%
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%
$1,263,080
$1.3M
Cap Rate 7%
$902,200
$902.2K
Cap Rate 9%
$701,711
$701.7K
Market Conditions
NOI Build-Up for 4,916 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
$108.0K $21.96/SF
− Vacancy
−$23.8K −$4.83/SF
EGI
$84.2K $17.13/SF
− OpEx
−$21.1K −$4.28/SF
NOI
$63.2K $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%
$1,263,080
Cap Rate 7%
$902,200
Cap Rate 9%
$701,711
Alternative Uses
Best Use
Office B
$902.2K
$789.4K – $1.05M
NOI $63,154 @ 7.0% cap · market cap 3.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.38M
$1.21M – $1.61M
NOI $96,747 @ 7.0% cap · market cap 5.37%
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 - Open-plan professional space includes dedicated front parking and wooded views toward Wilson Creek Park.
Where is this office building located?
The property is located at 299 Eldorado Pkwy 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: Modern farmhouse‑style office building with an open interior layout; More than 800 square feet of additional storage space; Patio overlooking the wooded setting of Wilson Creek Park
