Multi-Tenant Office and Medical
5200 Paige Road, The Colony, TX 75056
Partially occupied with short-term tenants and ~3,000 SF available for owner use or lease in an O-1 district.
Type:HC, OFC, SCR
Property size:
9,596 SFLot size:
1.00 AcrePrice / SF:
$229/SF- Added:
- Jun 23, 2026
- Days on Market:
- 16
- Last Refresh:
- Jul 1 at 2:09 am
Property Features for 5200 Paige Road
General Information
- Standard status
- Active
- Size
- 9,596 SF
- Lot size
- 1.00 Acre
- Property subtype
- HC, OFC, SCR
Building Details
- Year Built
- 1980
Listing office Guildford LTD dba Keller Williams Realty (469) 430-8866
Listing date Jun 23, 2026
Source Realnex
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 Guildford LTD dba Keller Williams Realty
HighLights
- ~9,596 SF multi‑tenant office/medical building built in 1980 on a 1‑acre site with abundant parking
- ~3,000 SF currently available for lease or owner occupancy, supporting flexible owner‑user or investment strategies
- Partially occupied by short‑term tenants, providing supplemental income and potential for future expansion
- Located in The Colony’s O‑1 Office District with Gateway Overlay District; permitted for a range of professional and healthcare uses without a Specific Use Permit
- Existing short‑term tenant occupancy plus vacancy creates multiple paths to lease‑up and longer‑term tenant stabilization
Overview
This multi-tenant office and medical building totals approximately 9,596 square feet on a one-acre site with abundant parking. The property is currently partially occupied by short-term tenants, and approximately 3,000 square feet is available for lease or owner occupancy. Designed with flexible floorplans, the building supports a range of professional office and healthcare uses within the existing improvement footprint.
Located in The Colony within the O-1 Office District and Gateway Overlay District, the property offers convenient access to SH-121 and the Dallas North Tollway and is positioned near major employment and commercial destinations including Legacy West and Grandscape. This central placement supports day-to-day accessibility for staff and patients, while also placing the building within reach of the Frisco and Plano corporate corridor.
For owner-users, the current occupancy provides the option to offset operating costs while establishing a longer-term headquarters. The combination of flexible space and permitted professional and healthcare-oriented uses without a Specific Use Permit supports multiple tenant fit scenarios, including medical practices, dental offices, counseling and wellness, attorneys and CPA firms, insurance and financial services, and other administrative office users. For investors, the existing short-term occupancy and available space create a practical pathway to lease-up or gradual re-tenanting based on an owner’s business plan.
Located in The Colony within the O-1 Office District and Gateway Overlay District, the property offers convenient access to SH-121 and the Dallas North Tollway and is positioned near major employment and commercial destinations including Legacy West and Grandscape. This central placement supports day-to-day accessibility for staff and patients, while also placing the building within reach of the Frisco and Plano corporate corridor.
For owner-users, the current occupancy provides the option to offset operating costs while establishing a longer-term headquarters. The combination of flexible space and permitted professional and healthcare-oriented uses without a Specific Use Permit supports multiple tenant fit scenarios, including medical practices, dental offices, counseling and wellness, attorneys and CPA firms, insurance and financial services, and other administrative office users. For investors, the existing short-term occupancy and available space create a practical pathway to lease-up or gradual re-tenanting based on an owner’s business plan.
Local Financial Insights For Office B
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 | $237.2k | $24.72 |
| − Vacancy | −$59.3k | −$6.18 |
| EGI | $177.9k | $18.54 |
| − OpEx | −$44.5k | −$4.64 |
| NOI | $133.4k | $13.91 |
9,596 SF · lease $24.72/SF/yr · vacancy 25.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.91M
$1.67M – $2.22M
NOI $133,432 @ 7.0% cap · market cap 6.07%
Second Best
Healthcare Medical
$1.86M
$1.62M – $2.16M
NOI $129,857 @ 7.0% cap · market cap 5.90%
Theoretical Best
Multifamily LT 5
$134.19M
$117.42M – $156.56M
NOI $9,393,618 @ 7.0% cap · market cap 426.98%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Office buildings
Location Insight
- Map
- Local Demand
- City
- The Colony
- County
- Denton
- State
- Texas
- Longitude
- -96.8765205
- Latitude
- 33.0856214
Nearby Similar for Sale
FAQs
What type of property is this?
Office building - Partially occupied with short-term tenants and ~3,000 SF available for owner use or lease in an O-1 district.
Where is this office building located?
The property is located at 5200 Paige Road The Colony, TX.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: ~9,596 SF multi‑tenant office/medical building built in 1980 on a 1‑acre site with abundant parking; ~3,000 SF currently available for lease or owner occupancy, supporting flexible owner‑user or investment strategies; Partially occupied by short‑term tenants, providing supplemental income and potential for future expansion
