Self-Storage Facility with Expansion
For Sale
Contact for pricing
6737 Co Rd 124, McKinney, TX 75071
Operating RV and boat storage property with substantial excess acreage near U.S. 380.
Property Size31,920 SF
Price / SF$140.98
Days on Market167
Property Features for 6737 Co Rd 124
General Information
Standard status
Active
Size
31,920 SF
Property subtype
Land, Self Storage
Occupancy
91%
Building Details
Year Built
2003
Year Renovated
2015
Buildings
2
Stories
1
Units
95
Listing Agency:
Marcus & Millichap - Fort Worth
(817) 932-6141
Listed By:
Danny Cunningham · License #TX 635835
Source:
Crexi
Added: Mar 17
Changed: Aug 30
Last Checked: Aug 30 at 1:45AM
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 Marcus & Millichap - Fort Worth
Investment Insights
Based on property information with market context.
This self-storage property encompasses 16.23 acres and currently operates as an RV and boat storage facility. The site includes substantial excess land beyond the existing operation, supporting additional storage development or other commercial improvements. The property was built in 2003 and is located at 6737 Co Rd 124 in McKinney, Texas.
The site is positioned just north of U.S. 380 and near the approved 785-acre Huntington Park mixed-use development. Planned components of Huntington Park include single-family homes, townhomes, multifamily housing, commercial acreage, and open space. The planned U.S. 380 Bypass is designed as an eight-lane east-west corridor with frontage roads and is expected to alter regional traffic patterns while improving connectivity in the surrounding area.
The property’s existing RV and boat storage use, available acreage, and proximity to planned residential and commercial development create a flexible platform for future storage expansion or other commercial applications supported by the source information.
The site is positioned just north of U.S. 380 and near the approved 785-acre Huntington Park mixed-use development. Planned components of Huntington Park include single-family homes, townhomes, multifamily housing, commercial acreage, and open space. The planned U.S. 380 Bypass is designed as an eight-lane east-west corridor with frontage roads and is expected to alter regional traffic patterns while improving connectivity in the surrounding area.
The property’s existing RV and boat storage use, available acreage, and proximity to planned residential and commercial development create a flexible platform for future storage expansion or other commercial applications supported by the source information.
Key Highlights
- 16.23‑acre self‑storage property
- Existing RV and boat storage operation
- Substantial excess land for future expansion
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
$370,017
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
8.22%
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%
$7,400,340
$7.4M
Cap Rate 7%
$5,285,957
$5.3M
Cap Rate 9%
$4,111,300
$4.1M
Market Conditions
NOI Build-Up for 31,920 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
$574.6K $18.00/SF
− Vacancy
−$46.0K −$1.44/SF
EGI
$528.6K $16.56/SF
− OpEx
−$158.6K −$4.97/SF
NOI
$370.0K $11.59/SF
Area
McKinney, TX
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$7,400,340
Cap Rate 7%
$5,285,957
Cap Rate 9%
$4,111,300
Alternative Uses
Best Use
Self Storage
$5.29M
$4.63M – $6.17M
NOI $370,017 @ 7.0% cap · market cap 8.22%
Second Best
Warehouse
$3.49M
$3.06M – $4.08M
NOI $244,562 @ 7.0% cap · market cap 5.43%
Theoretical Best
Office A
$8.97M
$7.85M – $10.47M
NOI $628,186 @ 7.0% cap · market cap 13.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
45
Businesses Nearby
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 Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Operating RV and boat storage property with substantial excess acreage near U.S. 380.
Where is this self storage facility located?
The property is located at 6737 Co Rd 124 McKinney, TX.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: 16.23‑acre self‑storage property; Existing RV and boat storage operation; Substantial excess land for future expansion
