Finished Office Condo
New
For Sale
$489,000
8668 Johnhickman Pkwy Unit 906, Frisco, TX 75034
Office condo with a 2024 interior finish in a business park near Preston Road and major North Texas tollways.
Property Size1,150 SF
Price / SF$425.22
Days on Market2
Property Features for 8668 Johnhickman Pkwy Unit 906
General Information
Standard status
Active
Size
1,150 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
2022
Listing Agency:
Keller Williams Frisco Stars
Listed By:
Vivian Chi · License #0724402
(510) 520-7398
Source:
Thebryandavisgroup
Added: Sep 9
Last Checked: Sep 9 at 3:19PM
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 Keller Williams Frisco Stars
Investment Insights
Based on property information with market context.
This office condo is located within Preston Circle Office Park and includes a 2024 fall finish-out. The property was built in 2022 and offers 1,150 of property area for office use. Its location at 8668 Johnhickman Pkwy, Unit 906, places the suite near Preston Road in Frisco.
The office park is positioned to serve business activity across Frisco, Little Elm, and North Plano. Access to the Dallas North Tollway and Sam Rayburn Tollway supports connectivity throughout the surrounding North Texas corridor. The property information also identifies Frisco’s North Platinum Corridor as part of the surrounding business area.
The office park is positioned to serve business activity across Frisco, Little Elm, and North Plano. Access to the Dallas North Tollway and Sam Rayburn Tollway supports connectivity throughout the surrounding North Texas corridor. The property information also identifies Frisco’s North Platinum Corridor as part of the surrounding business area.
Key Highlights
- 2024 fall finish‑out
- 1,150 property area
- Built in 2022
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
$23,592
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
4.82%
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%
$471,840
$471.8K
Cap Rate 7%
$337,029
$337.0K
Cap Rate 9%
$262,133
$262.1K
Market Conditions
NOI Build-Up for 1,150 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
$36.2K $31.44/SF
− Vacancy
−$4.7K −$4.09/SF
EGI
$31.5K $27.35/SF
− OpEx
−$7.9K −$6.84/SF
NOI
$23.6K $20.51/SF
Area
Frisco, TX
Vacancy
13.00%
Lease Rate
$31.44 /SF/Yr
Expense Ratio
25.00%
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%
$471,840
Cap Rate 7%
$337,029
Cap Rate 9%
$262,133
Alternative Uses
Best Use
Office B
$337.0K
$294.9K – $393.2K
NOI $23,592 @ 7.0% cap · market cap 4.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$448.7K
$392.6K – $523.5K
NOI $31,408 @ 7.0% cap · market cap 6.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,905
Businesses Nearby
Explore this area
Business Placement
Demographics for 75034, TX
47,734
Population
23,836
Households
2
Avg Household Size
36
Median Age
63%
College-Educated
97%
High-School Grad
15.9 sq mi
ZIP Area
3,002
Density / Sq Mi
$107,945
Median Household Income
$67,256
Median Earnings
$1,730
Median Rent
$679,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office units - Office condo with a 2024 interior finish in a business park near Preston Road and major North Texas tollways.
Where is this office units located?
The property is located at 8668 Johnhickman Pkwy Unit 906 Frisco, TX.
What is the asking price?
The asking price for this property is $489,000.
What are key features of this property?
This property features: 2024 fall finish‑out; 1,150 property area; Built in 2022
