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    The Largest CRE Database in the US with Over 1 Million Listings

    300 Coit Rd Richardson, TX 75080

    Sponsored
    For Lease
    $10 SF/Yr

    Prime Richardson retail, multiple suites available.

    Lot size:
    150,600 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    410
    Exceptional retail opportunity at The Shops at Promenade, a two-story, 150,600 square foot Class B center located at 300 N. Coit Rd, Richardson, TX. This property boasts 6.78 acres of land and offers a variety of suite sizes for lease, ranging from 181 square feet to a maximum contiguous space of 17,766 square feet. Currently, 29,489 square feet is available. Built in 1977, the center has recently undergone renovations, providing modern, adaptable spaces suitable for a multitude of retail uses. The Shops at Promenade benefits from a strong anchor tenant base of approximately 142,219 square feet of office space, ensuring a consistent flow of customers. Its location on heavily trafficked Coit Road, in close proximity to Richardson High School and a densely populated residential area, guarantees high visibility and foot traffic. The center is surrounded by numerous national retailers, including McDonald's, Starbucks, Kroger, Dairy Queen, and Ace Hardware, creating a vibrant and convenient shopping environment. Asking rent is teens PSF + $4.23 NNN. Specific suite sizes include: 3,299 SF, 1,988 SF, 2,255 SF, 6,753 SF, 4,076 SF, 3,184 SF, 883 SF, 2,415 SF, 1,594 SF, and 1,346 SF. Individual suite numbers are available upon request.

    Property Features for 300 Coit Rd

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    150,600 SF
    Class
    B
    Total Rate
    125500

    Building Details

    Year Built
    1977
    Stories
    2

    Unit(s) available at that property

    Space
    0255
    Size
    1,346 SF
    Rate per SF
    $20
    Space
    0152
    Size
    3,184 SF
    Rate per SF
    $20
    Space
    0132
    Size
    1,988 SF
    Rate per SF
    $20
    Space
    0175
    Size
    2,415 SF
    Rate per SF
    $20
    Space
    0135
    Size
    2,255 SF
    Rate per SF
    $20
    Space
    0140
    Size
    6,753 SF
    Rate per SF
    $20
    Space
    0157
    Size
    883 SF
    Rate per SF
    $20
    Space
    0131
    Size
    3,299 SF
    Space
    0177
    Size
    1,594 SF
    Rate per SF
    $20
    Space
    0150
    Size
    4,076 SF
    Rate per SF
    $20
    Space
    0199
    Size
    181 SF
    Rate per SF
    $20
    Space
    0126
    Size
    772 SF

    We can help!

    Listing Contact
    Oliver Willman
    Oliver Willman

    Learn more

    HighLights

    • 150,600 square foot, multi‑tenant retail center on 6.78 acres.
    • 29,489 square feet of vacant space available, with suites ranging from 181 to 17,766 square feet.
    • Asking rent: Teens PSF + $4.23 NNN.
    • Class B, two‑story building constructed in 1977.
    • Located on high‑traffic Coit Road in Richardson, TX, near Richardson High School and surrounded by national retailers (McDonald's, Starbucks, Kroger, etc.).
    • Anchored by approximately 142,219 square feet of office space.
    Property Profile Location Intelligence

    Current Use by Public Records

    FNR Solutions, Inc. Human Resource Consulting Compnova Inc Software Company Buchwald Family Dentistry ... Dentist OneStopShopInsurance Insurance Agency Mike Hart - State ... Insurance Agency

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Richardson
    County
    Dallas
    State
    Texas
    Longitude
    -96.7681388
    Latitude
    32.9552594

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    FAQs

    What type of property is this?
    Retail property - Prime Richardson retail, multiple suites available.
    Where is this retail property located?
    The property is located at 300 Coit Rd Richardson, TX.
    What is the lease rate?
    The lease rate is $0.00-$20 SF/Yr.
    What are key features of this property?
    This property features: 150,600 square foot, multi-tenant retail center on 6.78 acres.; 29,489 square feet of vacant space available, with suites ranging from 181 to 17,766 square feet.; Asking rent: Teens PSF + $4.23 NNN.
    Request Owner's contact information
    300 Coit Rd Richardson, TX 75080
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    Richardson, TX 75080
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    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
    300 Coit Rd Richardson, TX 75080
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    We can help!
    Listing Contact
    Oliver Willman
    Oliver Willman
    Real Estate License ID: TX 788014
    Learn more
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