Office Building with Full
For Sale
Contact for pricing
307 E First Street, Prosper, TX 75078
Half of the building is available within an established professional office configuration.
Property Size5,000 SF
Price / SF$360
Days on Market52
Property Features for 307 E First Street
General Information
Standard status
Active
Size
5,000 SF
Property subtype
Office
Building Details
Building Size
5,000 SF
Listing Agency:
Brown & Griffin Real Estate Advisors
Listed By:
Sam Clayton · License #819615
(972) 347-9900
Source:
Crexi
Added: Sep 4
Changed: Oct 25
Last Checked: Oct 24 at 1:57PM
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 Brown & Griffin Real Estate Advisors
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Investment Insights
Based on property information with market context.
This 5,000 SF office building combines an existing tenancy with available space, offering half leased and half available. The interior has a complete office buildout with eight private offices, a conference room, lobby and reception area, copy room, break room with kitchen, and two restrooms. The layout supports a range of professional office operations without requiring a new basic interior installation.
The property is located at 307 E First Street in Prosper, near the community’s center, with regional access toward Frisco, McKinney, and the broader North Dallas growth corridor. Its downtown Prosper address and established configuration provide a practical setting for continued office occupancy, owner use, or professional services.
The property is located at 307 E First Street in Prosper, near the community’s center, with regional access toward Frisco, McKinney, and the broader North Dallas growth corridor. Its downtown Prosper address and established configuration provide a practical setting for continued office occupancy, owner use, or professional services.
Key Highlights
- 5,000 SF office building with half leased and half available
- Full office buildout with eight offices and established support areas
- Includes conference room, lobby/reception, copy room, and break room with kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,410
Cap Rate
3.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,268,200
$1.3M
Cap Rate 7%
$905,857
$905.9K
Cap Rate 9%
$704,556
$704.6K
Market Conditions
NOI Build-Up for 5,000 SF
Gross rent
$109.8K $21.96/SF
− Vacancy
−$25.3K −$5.05/SF
EGI
$84.5K $16.91/SF
− OpEx
−$21.1K −$4.23/SF
NOI
$63.4K $12.68/SF
Area
Collin County, TX
Vacancy
23.00%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,268,200
Cap Rate 7%
$905,857
Cap Rate 9%
$704,556
Alternative Uses
Best Use
Office B
$905.9K
$792.6K – $1.06M
NOI $63,410 @ 7.0% cap · market cap 3.52%
Second Best
—
—
no second resolved use
Theoretical Best
Industrial
$4.97M
$4.35M – $5.80M
NOI $347,781 @ 7.0% cap · market cap 19.32%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
808
Businesses Nearby
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Business Placement
Demographics for 75078, TX
38,980
Population
14,409
Households
2.7
Avg Household Size
34
Median Age
63%
College-Educated
97%
High-School Grad
31.6 sq mi
ZIP Area
1,234
Density / Sq Mi
$187,634
Median Household Income
$82,714
Median Earnings
$2,284
Median Rent
$650,600
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Half of the building is available within an established professional office configuration.
Where is this office building located?
The property is located at 307 E First Street Prosper, 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 SF office building with half leased and half available; Full office buildout with eight offices and established support areas; Includes conference room, lobby/reception, copy room, and break room with kitchen
