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    Development Site Near Civic Hub Title is generated by Realmo AI

    403 East Pecan Street, Celina, TX 75009

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    For Sale
    $750,000

    Strategic development site near Celina's Civic Hub and Ousley Urban Park.

    Type:Lots & Acreage / Improved Land
    Property size:
    21,836 SF
    Lot size:
    0.50 Acres
    Price / SF:
    $34/SF
    Added:
    Sep 14, 2025
    Days on Market:
    263
    Last Refresh:
    Mar 13 at 2:32 pm

    Property Features for 403 East Pecan Street

    General Information

    Standard status
    Active
    Size
    21,836 SF
    Lot size
    0.50 Acres
    Property subtype
    Lots & Acreage / Improved Land

    We can help!

    Listing Contact
    Madison Williams
    Madison Williams

    Listing agent Madison Williams License #0589959

    Listing office Herbie L. Phillips

    Listing date Sep 14, 2025

    Source Compass

    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 Herbie L. Phillips

    HighLights

    • Strategic development site between the new $94M Civic Hub and future 9‑acre Ousley Urban Park (EST. Fall 2026).
    • Enjoy a $100k price reduction for a limited 30‑day flash sale.
    • Located in the Downtown Transition District, designated for high‑density, mixed‑use infill.
    • NEZ Designation: Potential savings of $50,000+ in development fees, Impact Fees, & Building Permits.
    • Benefit from Fee‑in‑Lieu parking credits ($3k/space) due to proximity to the 400‑space municipal garage.
    • Adjacent to future Kid Approved Pediatrics (opening June 2026), attracting high‑income professionals and families.

    Overview

    This 0.5-acre development site is located at 403 E Pecan, situated in the Downtown Transition District, which is specifically designated for high-density, mixed-use infill. The site is positioned near Celina’s new $94 million Civic Hub and the upcoming 9-acre Ousley Urban Park, estimated for completion in Fall 2026. The property is located near the newly opened 400-space municipal garage. It benefits from Fee-in-Lieu parking credits at $3,000 per space, potentially allowing for a larger building footprint. The site has zero-lot-line capability and allows for up to 3 stories. It is located 0.2 miles from the new 115,000 sq ft City Center and Library. The property is located in the Neighborhood Empowerment Zone, potentially saving over $50,000 in standard development fees, impact fees, and building permits. The site is positioned as the front door to the nature trail system, capturing foot traffic from the high-density Civic Center to the nature trails of Ousley Park. The adjacent property at 408 E Pecan is under construction for Kid Approved Pediatrics, scheduled to open in June 2026.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Celina
    County
    Collin
    State
    Texas
    Longitude
    -96.7875594
    Latitude
    33.3254741

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    FAQs

    What type of property is this?
    Commercial land - Strategic development site near Celina's Civic Hub and Ousley Urban Park.
    Where is this commercial land located?
    The property is located at 403 East Pecan Street Celina, TX.
    What is the asking price?
    The asking price for this property is $750,000.
    What are key features of this property?
    This property features: Strategic development site between the new $94M Civic Hub and future 9‑acre Ousley Urban Park (EST. Fall 2026).; Enjoy a $100k price reduction for a limited 30‑day flash sale.; Located in the Downtown Transition District, designated for high‑density, mixed‑use infill.
    (469) 740-3557
    We can help!
    Listing Contact
    Madison Williams
    Madison Williams
    Real Estate License ID: 0589959
    Learn More
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    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.

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