Flex Space With
For Sale
$1,590,000
910 Preston Road, Celina, TX 75009
CommercialSale, Celina, TX
Property Size8,600 SF
Lot Size1.16 Acres
Price / SF$184.88
Days on Market252
Property Features for 910 Preston Road
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Commercial
Directions
Go north on Preston Rd, SH 289 in Celina, 2 miles north of FM 455 west of Preston Rd.
Standard status
Active
APN
R617000205801
Lot size
1.16 Acres
Taxes and HOA fees
Tax Description
ABS A0170 COLLIN COUNTY SCHOOL LAND #15 SURVE
Legal Description
ABS A0170 COLLIN COUNTY SCHOOL LAND #15 SURVE
Utilities
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Building Details
Year built
1978
Floors in Building
1
Number of units
2
Flooring type
Carpet, Concrete, Tile
Building materials
Brick
Roof type
Metal, Composition
Listing Agency:
Sonya Realty, LLC
(972) 948-9200
Listed By:
Sonya Rafie · License #0330549
(972) 948-9200
Added: Dec 23, 2025
Changed: Aug 23
Last Checked: Sep 1 at 3:06PM
MLS# 20882134
Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This flex property spans 1.155 acres and includes a 2,200-square-foot house alongside a 6,400-square-foot insulated metal warehouse. The house includes central air conditioning, three bedrooms, a two-car garage, and carpet, tile, and concrete flooring, offering a structure that can accommodate office or retail use. The warehouse has two electric remote-controlled 18-foot doors, a metal roof, and concrete surfaces suited to large trucks and forklift activity.
Water and electric service are available, while wastewater is handled by septic. The property is commercially zoned by the City of Celina and includes ample parking. Its combination of enclosed warehouse space, a separate house, truck-accessible improvements, and multiple existing building features supports a range of flex-oriented commercial operations.
Water and electric service are available, while wastewater is handled by septic. The property is commercially zoned by the City of Celina and includes ample parking. Its combination of enclosed warehouse space, a separate house, truck-accessible improvements, and multiple existing building features supports a range of flex-oriented commercial operations.
Key Highlights
- 1.155‑acre commercial property with a 2,200‑square‑foot house and 6,400‑square‑foot warehouse
- Two electric remote‑controlled 18‑foot warehouse doors
- Insulated metal warehouse with concrete surfaces for large trucks and forklift use
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
$109,064
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
6.86%
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%
$2,181,280
$2.2M
Cap Rate 7%
$1,558,057
$1.6M
Cap Rate 9%
$1,211,822
$1.2M
Market Conditions
NOI Build-Up for 8,600 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
$188.9K $21.96/SF
− Vacancy
−$43.4K −$5.05/SF
EGI
$145.4K $16.91/SF
− OpEx
−$36.4K −$4.23/SF
NOI
$109.1K $12.68/SF
Area
Collin County, TX
Vacancy
23.00%
Lease Rate
$21.96 /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%
$2,181,280
Cap Rate 7%
$1,558,057
Cap Rate 9%
$1,211,822
Alternative Uses
Best Use
Industrial
$8.55M
$7.48M – $9.97M
NOI $598,184 @ 7.0% cap · market cap 37.62%
Second Best
Office B
$1.56M
$1.36M – $1.82M
NOI $109,064 @ 7.0% cap · market cap 6.86%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
134
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75009, TX
21,276
Population
9,943
Households
2.1
Avg Household Size
34
Median Age
56%
College-Educated
96%
High-School Grad
98.7 sq mi
ZIP Area
216
Density / Sq Mi
$166,064
Median Household Income
$70,683
Median Earnings
$2,134
Median Rent
$471,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Commercially zoned property combines an adaptable house, insulated warehouse, truck-capable surfaces, and on-site parking.
Where is this flex space located?
The property is located at 910 Preston Road Celina, TX.
What is the asking price?
The asking price for this property is $1,590,000.
What are key features of this property?
This property features: 1.155‑acre commercial property with a 2,200‑square‑foot house and 6,400‑square‑foot warehouse; Two electric remote‑controlled 18‑foot warehouse doors; Insulated metal warehouse with concrete surfaces for large trucks and forklift use
