Single-Tenant Office
For Sale
$732,072
4815 State Highway 121, The Colony, TX 75056
NNN-leased office unit with specialized plumbing, showers, and flexible PD 11 zoning.
Property Size1,947 SF
Price / SF$376
Days on Market75
Property Features for 4815 State Highway 121
General Information
Standard status
Active
Size
1,947 SF
Zoning
PD 11
Net Operating Income
$46,800
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Office Units
1
Building Details
Year Built
2015
Tenancy
Single
Listing Agency:
Younger Partners Dallas, LLC
Listed By:
Jennifer Permenter · License #0397828
(214) 238-8000
Source:
Franzettirealestate
Added: Aug 1
Changed: Oct 8
Last Checked: Oct 7 at 3:49PM
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 Younger Partners Dallas, LLC
Investment Insights
Based on property information with market context.
This 1,947-square-foot office condo was built in 2015 and updated with interior finishes in 2024. The single-tenant layout includes 7 rooms, 2 restrooms, 2 showers, and 1 break room, with plumbing extended to all 7 rooms. Washer and dryer hookups are also provided, supporting office, medical, and personal-service configurations.
The property fronts State Highway 121 and includes prominent pylon signage. It is situated within a condominium building that contains multiple established medical clinics. The asset is leased under an NNN structure, and PD 11 zoning allows uses including medical, dental, general office, personal services, and tutor centers. Management is provided by the 121 Office Plaza Condominium Association.
The property fronts State Highway 121 and includes prominent pylon signage. It is situated within a condominium building that contains multiple established medical clinics. The asset is leased under an NNN structure, and PD 11 zoning allows uses including medical, dental, general office, personal services, and tutor centers. Management is provided by the 121 Office Plaza Condominium Association.
Key Highlights
- 1,947‑square‑foot office condo built in 2015
- Interior finishes completed in 2024
- 7 rooms, 2 restrooms, 2 showers, and 1 break room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,073
Cap Rate
3.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$541,460
$541.5K
Cap Rate 7%
$386,757
$386.8K
Cap Rate 9%
$300,811
$300.8K
Market Conditions
NOI Build-Up for 1,947 SF
Gross rent
$48.1K $24.72/SF
− Vacancy
−$12.0K −$6.18/SF
EGI
$36.1K $18.54/SF
− OpEx
−$9.0K −$4.64/SF
NOI
$27.1K $13.91/SF
Area
Denton County, TX
Vacancy
25.00%
Lease Rate
$24.72 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$541,460
Cap Rate 7%
$386,757
Cap Rate 9%
$300,811
Alternative Uses
Best Use
Office B
$386.8K
$338.4K – $451.2K
NOI $27,073 @ 7.0% cap · market cap 3.70%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$27.23M
$23.82M – $31.77M
NOI $1,905,937 @ 7.0% cap · market cap 260.35%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
933
Businesses Nearby
Explore this area
Business Placement
Demographics for 75056, TX
67,570
Population
28,102
Households
2.4
Avg Household Size
36
Median Age
54%
College-Educated
95%
High-School Grad
23.6 sq mi
ZIP Area
2,863
Density / Sq Mi
$116,806
Median Household Income
$64,197
Median Earnings
$1,808
Median Rent
$414,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office units - NNN-leased office unit with specialized plumbing, showers, and flexible PD 11 zoning.
Where is this office units located?
The property is located at 4815 State Highway 121 The Colony, TX.
What is the asking price?
The asking price for this property is $732,072.
What are key features of this property?
This property features: 1,947‑square‑foot office condo built in 2015; Interior finishes completed in 2024; 7 rooms, 2 restrooms, 2 showers, and 1 break room
