Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    6951 Virginia Pkwy McKinney, TX 75071

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Located in Adriatica Village, McKinney, replicating a Croatian fishing village.

    Type:Office
    Added:
    Oct 25, 2023
    Days on Market:
    915
    Last Refresh:
    Mar 17 at 1:20 pm

    Property Features for 6951 Virginia Pkwy

    General Information

    Standard status
    Active
    Property subtype
    Office

    Spaces For Lease

    at 6951 Virginia Pkwy Contact us

    $32 /Mo

    Size
    Type
    Office
    Contact us

    We can help!

    Listing Contact
    Ray Eckenrode

    Listing agent Ray Eckenrode License #TX 579746

    Listing office Appian Commercial Realty

    Listing date Oct 25, 2023

    Source Crexi

    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 Appian Commercial Realty

    Overview

    Adriatica Village Mixed-Use Property

    This property is situated in Adriatica Village, specifically on the southeast corner of Virginia Parkway and Stonebridge Drive, in the western part of McKinney, Texas. McKinney is recognized as one of the fastest-growing cities in the U.S. with an estimated population of 206,000 and an average household income of $134,813. Adriatica spans 45 acres and is located within the Stonebridge Ranch master-planned community, which encompasses over 5,000 acres. Adriatica is a mixed-use development designed to replicate the fishing village of Supetar on the island of Brac in Croatia. The village is home to a variety of businesses, including Starbucks, Starwood Café, The UPS Store, Karadise Boutique, Zen Zen Wine & Bistro, Cavalli’s Pizza, Independent Financial, The Guitar Sanctuary, and The Sanctuary.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    McKinney Family Counseling Marriage Or Relationship Counselor Home Insurance - McKinney ... Insurance Agency Nationwide Insurance: John ... Insurance Agency ACR Apartment Locators Apartment Building Healthful Chiropractic - Upper ... Alternative Medicine Practice

    Suggested Use

    Law Firm Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    McKinney
    County
    Collin
    State
    Texas
    Longitude
    -96.708652
    Latitude
    33.1981425

    Nearby Similar for Lease

    • $2,900/Mo

      Move-in Ready Office Space

      Professional office space in Collin Ridge Office Park, McKinney, TX.
      6000 Alma Drive, McKinney, TX 75070
      View Details
    • $3,100/Mo

      Move-in Ready Office Space

      Professional office space available for rent in McKinney, Texas.
      6000 Alma Drive, McKinney, TX 75070
      View Details
    • $2,750/Mo

      Office Suite with Private Entrance

      Office suite featuring a private entrance, reception, and ample parking.
      1402 S Custer Road, McKinney, TX 75072
      View Details
    • $3,062/Mo

      Move-in Ready Office in McKinney

      Fully built-out office space in Collin Ridge available for lease.
      6000 Alma Road, McKinney, TX 75070
      View Details
    • $3,000/Mo

      New Office Suite in McKinney

      Newly constructed 1,225 SF office suite for lease.
      6000 Alma Road, McKinney, TX 75070
      View Details
    • $3,250/Mo

      TPC Craig Ranch Office Condo

      Office condo in prime McKinney location near Highway 121.
      8751 Collin Mckinney Parkway, McKinney, TX 75070
      View Details
    • $5,501/Mo

      Furnished Office Space in McKinney

      Fully-furnished office space with amenities in McKinney, Texas.
      7300 State Highway 121, McKinney, TX 75070
      View Details
    • $2,895/Mo

      Office Space in Craig Ranch

      Office unit for rent in the heart of McKinney.
      6000 Alma Road, McKinney, TX 75070
      View Details
    • $2,295/Mo

      Professional Office Space in McKinney

      New 1225 SF office space in desirable McKinney location.
      6000 Alma Road, McKinney, TX 75070
      View Details
    • $1,095/Mo

      Office Space in McKinney, TX

      Office space for lease in McKinney, approximately 600 SF.
      10055 Aeronca Lane, McKinney, TX 75071
      View Details
    • $789/Mo

      Office Unit with Balcony View

      Office space with balcony overlooking town center in McKinney.
      6675 Mediterranean Drive, McKinney, TX 75072
      View Details
    • $3,000/Mo

      End-Cap Office Suite For Rent

      Efficient office suite with excellent visibility and parking.
      1402 S Custer Road, McKinney, TX 75072
      View Details

    FAQs

    What type of property is this?
    Office units - Located in Adriatica Village, McKinney, replicating a Croatian fishing village.
    Where is this office units located?
    The property is located at 6951 Virginia Pkwy McKinney, TX.
    What are key features of this property?
    This property features: Located in the unique Adriatica Village, a mixed‑use development replicating a Croatian fishing village.; Situated in the heart of west McKinney, one of the fastest‑growing cities in the U.S.; Part of the Stonebridge Ranch master‑planned community.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Ray Eckenrode
    Real Estate License ID: TX 579746
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!