Medical Office
For Sale
Contact for pricing
6609 Virginia Parkway, McKinney, TX 75071
Healthcare property occupied by an established women’s health practice offering comprehensive outpatient services.
Property Size22,241 SF
Price / SF$366.89
Days on Market10
Property Features for 6609 Virginia Parkway
General Information
Standard status
Active
Size
22,241 SF
Class
A
Property subtype
Office
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$632,433
Building Details
Year Built
2009
Tenancy
Single
Listing Agency:
ERE Healthcare Real Estate Advisors
Listed By:
Michael Campbell · License #CA 01843521
Source:
Crexi
Added: Aug 26
Changed: Sep 1
Last Checked: Sep 1 at 8:48PM
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 ERE Healthcare Real Estate Advisors
Investment Insights
Based on property information with market context.
The property is a 22,241-square-foot medical office space at 6609 Virginia Parkway in McKinney, Texas. Constructed in 2009, it is associated with Adriatica Women’s Health, an OB/GYN practice serving patients from locations in McKinney and Prosper.
The practice provides obstetrics, gynecology, menopause management, fertility evaluations, in-office 3D mammography, and MonaLisa Touch® treatments. Its provider team includes board-certified physicians and midwives. Adriatica Women’s Health joined Unified Women’s Healthcare of Texas in 2020, adding operational and clinical management support to the practice.
The practice provides obstetrics, gynecology, menopause management, fertility evaluations, in-office 3D mammography, and MonaLisa Touch® treatments. Its provider team includes board-certified physicians and midwives. Adriatica Women’s Health joined Unified Women’s Healthcare of Texas in 2020, adding operational and clinical management support to the practice.
Key Highlights
- 22,241‑square‑foot medical office space
- Built in 2009
- Located at 6609 Virginia Parkway, McKinney, TX 75071
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
$288,243
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
3.53%
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%
$5,764,860
$5.8M
Cap Rate 7%
$4,117,757
$4.1M
Cap Rate 9%
$3,202,700
$3.2M
Market Conditions
NOI Build-Up for 22,241 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
$533.8K $24.00/SF
− Vacancy
−$53.4K −$2.40/SF
EGI
$480.4K $21.60/SF
− OpEx
−$192.2K −$8.64/SF
NOI
$288.2K $12.96/SF
Area
McKinney, TX
Vacancy
10.00%
Lease Rate
$24.00 /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%
$5,764,860
Cap Rate 7%
$4,117,757
Cap Rate 9%
$3,202,700
Alternative Uses
Best Use
Healthcare Medical
$4.12M
$3.60M – $4.80M
NOI $288,243 @ 7.0% cap · market cap 3.53%
Second Best
Office B
$4.08M
$3.57M – $4.76M
NOI $285,721 @ 7.0% cap · market cap 3.50%
Theoretical Best
Office A
$6.25M
$5.47M – $7.30M
NOI $437,703 @ 7.0% cap · market cap 5.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
999
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75071, TX
64,449
Population
23,861
Households
2.7
Avg Household Size
35
Median Age
51%
College-Educated
94%
High-School Grad
74.1 sq mi
ZIP Area
870
Density / Sq Mi
$132,839
Median Household Income
$63,459
Median Earnings
$2,105
Median Rent
$448,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Stonebridge Family Vet — 200 Ridge Rd, McKinney, TX 75072
Frequently Asked Questions
What type of property is this?
Medical Office Space - Healthcare property occupied by an established women’s health practice offering comprehensive outpatient services.
Where is this medical office space located?
The property is located at 6609 Virginia Parkway McKinney, TX.
What is the asking price?
The asking price for this property is $8,160,000.
What are key features of this property?
This property features: 22,241‑square‑foot medical office space; Built in 2009; Located at 6609 Virginia Parkway, McKinney, TX 75071
