Retail Space with Adaptive
For Sale
$600,000
3409 Fannin Rd, Melissa, TX 75454
CMU entitlement permits conversion to retail use.
Property Size1,120 SF
Price / SF$535.71
Days on Market51
Property Features for 3409 Fannin Rd
General Information
Standard status
Active
Size
1,120 SF
Building Details
Year Built
2003
Listing Agency:
Coldwell Banker Apex, REALTORS
Listed By:
Salvador Lopez · License #0727122,TX
(214) 923-2798
Source:
Minteerteam
Added: Sep 2
Changed: Oct 2
Last Checked: Oct 7 at 2:06PM
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 Coldwell Banker Apex, REALTORS
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Investment Insights
Based on property information with market context.
Built in 2003, this 1,120-square-foot property at 3409 Fannin Road is classified as retail space and carries a confirmed CMU entitlement. Retail conversion is permitted under the existing entitlement, supporting an adaptive reuse approach without rezoning.
The OLD TOWN future land use designation provides the planning framework identified for continued adaptive reuse. Potential applications cited for the property include a pet hotel, coffee shop, attorney’s office, hair salon, or day care. SH 121 traffic volumes have nearly doubled since 2018, with continued acceleration noted in the property information.
The OLD TOWN future land use designation provides the planning framework identified for continued adaptive reuse. Potential applications cited for the property include a pet hotel, coffee shop, attorney’s office, hair salon, or day care. SH 121 traffic volumes have nearly doubled since 2018, with continued acceleration noted in the property information.
Key Highlights
- 1,120‑square‑foot retail space built in 2003
- Confirmed CMU entitlement permits retail conversion
- OLD TOWN future land use designation
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,021
Cap Rate
3.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$360,420
$360.4K
Cap Rate 7%
$257,443
$257.4K
Cap Rate 9%
$200,233
$200.2K
Market Conditions
NOI Build-Up for 1,120 SF
Gross rent
$27.0K $24.12/SF
− Vacancy
−$1.3K −$1.13/SF
EGI
$25.7K $22.99/SF
− OpEx
−$7.7K −$6.90/SF
NOI
$18.0K $16.09/SF
Area
Collin County, TX
Vacancy
4.70%
Lease Rate
$24.12 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$360,420
Cap Rate 7%
$257,443
Cap Rate 9%
$200,233
Alternative Uses
Best Use
Retail
$257.4K
$225.3K – $300.4K
NOI $18,021 @ 7.0% cap · market cap 3.00%
Second Best
—
—
no second resolved use
Theoretical Best
Industrial
$1.11M
$973.8K – $1.30M
NOI $77,903 @ 7.0% cap · market cap 12.98%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
311
Businesses Nearby
17k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 71%
Dining 29%
Dollar General
Shops & Services
5,644 visits/mo
0.3 miles
Exxon
Shops & Services
3,135 visits/mo
0.5 miles
AutoZone
Shops & Services
2,917 visits/mo
0.5 miles
SUBWAY
Dining
2,647 visits/mo
0.5 miles
Scooter's Coffee
Dining
1,379 visits/mo
0.3 miles
Demographics for 75454, TX
16,252
Population
6,289
Households
2.6
Avg Household Size
33
Median Age
51%
College-Educated
95%
High-School Grad
21.4 sq mi
ZIP Area
759
Density / Sq Mi
$135,556
Median Household Income
$64,368
Median Earnings
$2,262
Median Rent
$421,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Retail space - CMU entitlement permits conversion to retail use.
Where is this retail space located?
The property is located at 3409 Fannin Rd Melissa, TX.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 1,120‑square‑foot retail space built in 2003; Confirmed CMU entitlement permits retail conversion; OLD TOWN future land use designation
