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    3031 Washington Dr Melissa, TX 75454

    Sponsored
    For Lease
    $48 SF/Yr

    1,288 SF Retail Space in Growing Melissa, TX

    Lot size:
    14,971 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 1,288 square foot retail space is located within the vibrant Melissa Wellness Village, a newly constructed (2023) development in the rapidly expanding city of Melissa, Texas. The property is part of a multi-tenant building totaling 14,971 square feet, offering excellent visibility and accessibility. The location benefits from high traffic counts due to its proximity to three major highways: SH 121, US 75, and SH 5, ensuring convenient access for customers. Melissa is experiencing significant population growth, with a remarkable increase exceeding 34% between 2020 and 2022. This robust growth is further supported by strong average household incomes exceeding $130,000 within a three-mile radius. A significant anchor tenant, a 125,000 square foot Kroger grocery store, opened in October 2024, driving substantial foot traffic to the center. This presents a unique opportunity for businesses seeking to establish themselves in a thriving suburban market with a high-income demographic. The property is classified as Retail and Restaurant use, offering flexibility for various business types. The space is immediately available. The zip code is 75454, and the address is 3031 Washington Dr, Melissa, TX.

    Property Features for 3031 Washington Dr

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    14,971 SF
    Total Rate
    59884

    Building Details

    Year Built
    2023

    Unit(s) available at that property

    Space
    Available Space 1
    Size
    1,288 SF
    Rate per SF
    $48

    HighLights

    • 1,288 SF retail space in Melissa, TX's new Melissa Wellness Village (2023).
    • Multi‑tenant building (14,971 SF total) with high visibility and accessibility near SH 121, US 75, and SH 5.
    • High traffic counts due to location and proximity to a new (Oct 2024) 125,000 SF Kroger.
    • Strong demographics: Melissa's population grew over 34% (2020‑2022), with average household incomes exceeding $130,000 within a 3‑mile radius.
    • Retail and restaurant use permitted; immediately available. Address: 3031 Washington Dr, Melissa, TX 75454.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Melissa
    County
    Collin
    State
    Texas
    Longitude
    -96.562465655696
    Latitude
    33.285437327445

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    FAQs

    What type of property is this?
    Restaurant - 1,288 SF Retail Space in Growing Melissa, TX
    Where is this restaurant located?
    The property is located at 3031 Washington Dr Melissa, TX.
    What is the lease rate?
    The lease rate is $48 SF/Yr.
    What are key features of this property?
    This property features: 1,288 SF retail space in Melissa, TX's new Melissa Wellness Village (2023).; Multi-tenant building (14,971 SF total) with high visibility and accessibility near SH 121, US 75, and SH 5.; High traffic counts due to location and proximity to a new (Oct 2024) 125,000 SF Kroger.
    Request Owner's contact information
    3031 Washington Dr Melissa, TX 75454
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    Melissa, TX 75454
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    Realmo Value Estimation

    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.

    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.

    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
    3031 Washington Dr Melissa, TX 75454
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