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4691 Old Shepard Pl, Plano, TX
5,421 SF office space ideal for medical or professional users.
Property Size5,421 SF
Lot Size0.86 Acres
Price / SF$94.24
Days on Market277
Property Features for 4691 Old Shepard Pl
General Information
Standard status
Active
Size
5,421 SF
Lot size
0.86 Acres
Property subtype
OFFICE
Listing Agency:
Search Commercial
(214) 682-9005
Listed By:
Dane Thomson · License #TX 435827
(214) 682-9005
Source:
Moodyscre
Added: Nov 4, 2025
Changed: Jul 10
Last Checked: Jul 21 at 4:26AM
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 Search Commercial
Investment Insights
Based on property information with market context.
This property offers 5,421 square feet of available space, which can be divided down to 1,202 square feet. It is suitable for medical, dental, or professional office users. The property is situated within the Preston Park area, surrounded by established medical and professional practices. Its location provides close proximity to major hospitals, including Texas Health Presbyterian Plano, Baylor Scott & White Medical Center, and Medical Center Plano. This is a new construction property with customizable interiors. The property is located minutes from Dallas North Tollway and President George Bush Turnpike, offering convenient regional access. Upscale retail, dining, and residential communities surround the location.
Key Highlights
- New construction with customizable interiors, design your perfect space.
- Ideal for medical, dental, or professional office users.
- Close proximity to major hospitals: Texas Health Presbyterian Plano, Baylor Scott & White Medical Center, and Medical Center Plano.
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
$29,086
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
5.69%
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%
$581,720
$581.7K
Cap Rate 7%
$415,514
$415.5K
Cap Rate 9%
$323,178
$323.2K
Market Conditions
NOI Build-Up for 5,421 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
$52.7K $9.72/SF
− Vacancy
−$4.2K −$0.78/SF
EGI
$48.5K $8.94/SF
− OpEx
−$19.4K −$3.58/SF
NOI
$29.1K $5.37/SF
Area
Plano, TX
Vacancy
8.00%
Lease Rate
$9.72 /SF/Yr
Expense Ratio
40.00%
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%
$581,720
Cap Rate 7%
$415,514
Cap Rate 9%
$323,178
Alternative Uses
Best Use
Healthcare Medical
$415.5K
$363.6K – $484.8K
NOI $29,086 @ 7.0% cap · market cap 5.69%
Second Best
Office B
$257.2K
$225.0K – $300.1K
NOI $18,003 @ 7.0% cap · market cap 3.52%
Theoretical Best
Multifamily LT 5
$1.25M
$1.09M – $1.46M
NOI $87,398 @ 7.0% cap · market cap 17.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,817
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - 5,421 SF office space ideal for medical or professional users.
Where is this medical office space located?
The property is located at 4691 Old Shepard Pl Plano, TX.
What is the asking price?
The asking price for this property is $510,850.
What are key features of this property?
This property features: New construction with customizable interiors, design your perfect space.; Ideal for medical, dental, or professional office users.; Close proximity to major hospitals: Texas Health Presbyterian Plano, Baylor Scott & White Medical Center, and Medical Center Plano.
