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    5601 Virginia Parkway, McKinney, TX 75071

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    For Lease
    $26 SF/Yr $4,333/Mo (calc)

    Office - McKinney, TX

    Type:Office
    Property size:
    2,000 SF
    Lot size:
    1.15 Acres
    Added:
    May 18, 2026
    Days on Market:
    2
    Last Refresh:
    May 19 at 11:06 am

    Property Features for 5601 Virginia Parkway

    General Information

    Property type
    Other
    Property subtype
    Office
    Parking features
    Parking Lot
    Standard status
    Active
    APN
    R419000A00301
    Size
    2,000 SF
    Lot size
    1.15 Acres

    Utilities

    Heating system
    Central, Electric (Heating)
    Cooling system
    Central Air, Electric

    Building Details

    Year built
    2000
    Flooring type
    Tile, Tile - Ceramic, Vinyl
    Building materials
    Brick, Stone, Stone Veneer
    Roof type
    Composition
    Architectural style
    Other

    We can help!

    Listing Contact
    Siva Sankar Manukonda

    Listing agent Siva Sankar Manukonda License #0814247

    Listing office R2 Realty LLC 2601 HWY 121 East, Southlake, TX

    Listing date May 18, 2026

    MLS# 21274440 Listing URL

    Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Move‑in ready suites minimize upfront costs and buildout time.
    • High‑visibility location on Virginia Parkway with easy access.
    • Suitable for medical, professional, or service‑oriented businesses.
    • Fresh interior paint and updated vinyl flooring create a modern environment.
    • Functional layouts support various business types.
    • Proximity to residential neighborhoods and retail amenities.

    Overview

    Turn-key medical or office suites are available for lease at 5601 Virginia Parkway in McKinney. Two suites are currently available, offering approximately 2,000 and 1,100 square feet. These spaces are suitable for medical, professional, or service-oriented users seeking a ready-to-occupy space. Both suites feature fresh interior paint and updated vinyl flooring, providing a modern, clean, and professional environment. The functional layouts support a variety of uses including medical practices, wellness services, general office, or boutique service businesses. The property is strategically located along Virginia Parkway, offering strong visibility, easy access, and proximity to surrounding residential neighborhoods and retail amenities. This location provides excellent positioning for both established operators and growing businesses. The suites are move-in ready with minimal upfront buildout required. The property is located in Collin County, Texas, and has a lot size of 1.15 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    MyStoneBridgeDentist.com Dental Office Masha Shturman, DDS Dental Office Visiting Nurse Association ... Nursing Home Family & Cosmetic Dentistry Dental Office Pure Roofing McKinney Roofing Company

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

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

    Similar Places Nearby

    • Animal Medical Center of McKinney — 201 Jordan Rd, McKinney, TX 75072
    • Animal Medical Center — 201 Jordan Rd, McKinney, TX 75072

    Location Insight

    • Map
    • Local Demand
    City
    McKinney
    County
    Collin
    State
    Texas
    Longitude
    -96.691393
    Latitude
    33.198127

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    FAQs

    What type of property is this?
    Medical Office Space - Turn-key office suites available for lease in McKinney, Texas.
    Where is this medical office space located?
    The property is located at 5601 Virginia Parkway McKinney, TX.
    What is the lease rate?
    The lease rate is $26 SF/Yr.
    What are key features of this property?
    This property features: Move‑in ready suites minimize upfront costs and buildout time.; High‑visibility location on Virginia Parkway with easy access.; Suitable for medical, professional, or service‑oriented businesses.
    (817) 800-6021
    We can help!
    Listing Contact
    Siva Sankar Manukonda
    Real Estate License ID: 0814247
    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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