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

    7220 State Highway 121 S McKinney, TX 75070

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Multi-tenant retail destination in a rapidly expanding suburban area.

    Property size:
    36,723 SF
    Lot size:
    3.73 Acres

    Property Features for 7220 State Highway 121 S

    General Information

    Standard status
    Active
    Size
    36,723 SF
    Lot size
    3.73 Acres

    Building Details

    Year built
    2023

    We can help!

    Listing Contact
    Tim Axilrod
    Source: Crexi

    Listing Agency: SHOP Companies Dallas Listing Agent: Tim Axilrod

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    High-Profile Retail and Restaurant Destination

    District 121 is a 36,723 square foot multi-tenant retail destination. Located approximately 25 minutes from DFW International Airport and 35 minutes from Downtown Dallas, the property is positioned at the intersection of State Highway 121 and Alma Road, which sees over 87,300 vehicles per day. The property consists of two parcels situated on approximately 3.72 acres, with access to a shared parking garage. The property is 100% leased to a mix of restaurant and financial services retail tenants, including Bob’s Steak & Chop House, Common Table, Mi Cocina, Pie Tap, Yama Izakaya & Sushi, Credit Union of Texas, and Chip City McKinney, with an average base lease expiration of November 2033. Bob’s Steak & Chop House occupies the freestanding building. District 121 benefits from newer construction and is located near the JW Marriott luxury hotel, McKinney Airport, and Kalahari Resorts & Conventions.
    Location Intelligence

    Current Use by Public Records

    Bob's Steak & Chop ... Restaurant

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    The Farm

    Location Insight

    • Map
    • Local Demand
    City
    McKinney
    County
    Collin
    State
    Texas
    Longitude
    -96.7016054
    Latitude
    33.1372198

    Nearby Similar for Sale

    • $395,550
      1,225 SF

      Move-in Ready Office in McKinney

      Corner office unit in Stonebridge Ranch, McKinney, TX.
      3900 S Stonebridge Dr, McKinney, TX 75070
      View Details
    • $479,990
      1,225 SF

      New Office Space in McKinney

      Newly constructed office condo with high-quality finishes and excellent parking.
      6000 Alma Rd, McKinney, TX 75070
      View Details
    • $780,000
      2,450 SF

      Stonebridge Drive Office Condo

      Office condo in McKinney with convenient highway access.
      3900 S Stonebridge Dr, McKinney, TX 75070
      View Details
    • New
      $412,000
      1,150 SF

      Upscale Office Suite in McKinney

      Modern office suite with high-end finishes and prime location.
      8951 Collin Mckinney Pkwy, McKinney, TX 75070
      View Details
    • New
      $944,000
      2.11 Acres

      Furnished Office Ready to Occupy

      Move-in ready, fully furnished office space in a prime location.
      2797 S Stonebridge Dr, McKinney, TX 75072
      View Details
    • $974,610
      0.11 Acres

      Premium Retail Space, McKinney, TX

      Highly visible, adaptable retail space in a thriving commercial corridor.
      5121 S Custer Rd, McKinney, TX 75070
      View Details
    • $480,000
      0.15 Acres

      Historic Office in Downtown McKinney

      Vintage office property near McKinney Square with strong branding potential.
      306 S Tennessee St S, McKinney, TX 75069
      View Details
    • $849,999
      1.95 Acres

      Turnkey McKinney Office Opportunity

      2,900 SF medical/professional office in a high-growth area.
      3600 Eldorado Pkwy, McKinney, TX 75070
      View Details
    • $6,600,000
      2.04 Acres

      Modern Car Wash in McKinney

      High-capacity flex car wash built in 2022 on 2.04 acres.
      5001 Mckinney Ranch Pkwy, McKinney, TX 75070
      View Details
    • $490,000
      0.88 Acres

      New Medical Office Suite For Sale

      New construction office suite for sale in McKinney, TX.
      1870 Harroun Ave, McKinney, TX 75069
      View Details
    • $769,000
      4,370 SF

      New Luxury Duplex Near Downtown

      New construction duplex with strong rental potential near downtown McKinney.
      409a Main St, McKinney, TX 75069
      View Details
    • $1,349,000
      4,628 SF

      Airpark Home with Detached Hangar

      Home with hangar and accessory dwelling unit in private airpark.
      10115 General Bond Ct, McKinney, TX 75071
      View Details

    FAQs

    What type of property is this?
    Shopping center - Multi-tenant retail destination in a rapidly expanding suburban area.
    Where is this shopping center located?
    The property is located at 7220 State Highway 121 S McKinney, TX.
    What are key features of this property?
    This property features: - 100% leased to a complementary mix of restaurant and financial services tenants.; - Located at a **high-traffic intersection** (87,300+ vehicles per day) of State Highway 121 and Alma Road.; - Average base lease expiration of November 2033.
    Request Owner's contact information
    7220 State Highway 121 S McKinney, TX 75070
    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.
    7220 State Highway 121 S
    McKinney, TX 75070
    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
    7220 State Highway 121 S McKinney, TX 75070
    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

    We can help!
    Listing Contact
    Tim Axilrod
    Real Estate License ID: 617806
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!