Remodeled Retail/Office Building Near
For Sale
$1,000,000
500 S Tennessee Street, McKinney, TX 75069
Remodeled retail/office building near McKinney's historic downtown.
Property Size2,453 SF
Price / SF$407.66
Days on Market102
Property Features for 500 S Tennessee Street
General Information
Standard status
Active
Size
2,453 SF
Property subtype
Commercial
Building Details
Year Built
1973
Listing Agency:
Carey Cox Company
(972) 562-8003
Listed By:
Bill Cox · License #0341788
(972) 562-8003
Source:
Signaturere
Added: Apr 22
Changed: Jul 10
Last Checked: Jul 10 at 1:18PM
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 Carey Cox Company
Investment Insights
Based on property information with market context.
This newly remodeled retail and office building is located near McKinney's historic downtown. The property features updated interiors, energy-efficient systems, and flexible workspaces. It offers a professional environment in a desirable location. The building is suitable for an owner-user or investor seeking style and convenience near McKinney's vibrant historic downtown. The property size is 2453 square feet.
Key Highlights
- Prime location near McKinney's historic downtown.
- Newly remodeled with updated interiors.
- Flexible workspaces suitable for retail or office use.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $59.2k | $24.12 |
| − Vacancy | −$2.8k | −$1.16 |
| EGI | $56.3k | $22.96 |
| − OpEx | −$16.9k | −$6.89 |
| NOI | $39.4k | $16.07 |
2,453 SF · lease $24.12/SF/yr · vacancy 4.80% · expense 30.00%
Alternative Uses
Best Use
Retail
$563.3K
$492.9K – $657.1K
NOI $39,428 @ 7.0% cap · market cap 3.94%
Second Best
Office B
$450.2K
$393.9K – $525.2K
NOI $31,513 @ 7.0% cap · market cap 3.15%
Theoretical Best
Office A
$689.6K
$603.4K – $804.6K
NOI $48,275 @ 7.0% cap · market cap 4.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,651
Businesses Nearby
Explore this area
Business Placement
Demographics for 75069, TX
39,084
Population
16,958
Households
2.3
Avg Household Size
38
Median Age
37%
College-Educated
88%
High-School Grad
33.7 sq mi
ZIP Area
1,160
Density / Sq Mi
$82,804
Median Household Income
$42,816
Median Earnings
$1,530
Median Rent
$413,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Remodeled retail/office building near McKinney's historic downtown.
Where is this retail space located?
The property is located at 500 S Tennessee Street McKinney, TX.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Prime location near McKinney's historic downtown.; Newly remodeled with updated interiors.; Flexible workspaces suitable for retail or office use.
