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    1801 Spring Creek Pkwy Plano, TX 75074

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    High-Cash Flow Retail Portfolio in Plano, TX

    Property size:
    13,060 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    406
    This exceptional mixed-use retail investment opportunity encompasses two properties located at 1801 and 1805 E Spring Creek Parkway in Plano, Texas, within Collin County, zip code 75074. The combined portfolio totals 13,060 square feet situated on a 1.875-acre lot, currently operating at 100% occupancy. The property features a cash-flowing car wash and a leased batting cage facility, providing immediate and consistent income. Its prime location is adjacent to the entrance of Assembly Park, a recently completed $500 million development including retail, creative office, and multi-family residential components. This strategic positioning offers significant upside potential. Furthermore, the property benefits from its close proximity to the Central Expressway and enjoys a highly visible location across the street from the Plano Event Center, currently undergoing a $3.2 million courtyard renovation, with a planned 4-star hotel construction nearby. The properties are zoned for retail use, presenting a compelling opportunity for redevelopment or continued operation as a high-performing retail asset. This is a rare chance to acquire a well-positioned, cash-flowing portfolio in a thriving Texas market. The properties will be sold together in a single transaction.

    Property Features for 1801 Spring Creek Pkwy

    General Information

    Property type
    Individual retail properties
    Square Feet
    13,060 SF
    Lot Size
    81,675 SF

    We can help!

    Listing Contact
    Reese Davis
    Reese Davis

    Learn more

    HighLights

    • 13,060 SF mixed‑use storefront property in Plano, TX.
    • 100% occupied with an existing car wash and leased batting cage facility, generating immediate cash flow.
    • Located on a 1.875‑acre lot at 1801 and 1805 E Spring Creek Pkwy, Plano, TX 75074.
    • Excellent redevelopment opportunity adjacent to the $500 million Assembly Park development (retail, office, multi‑family).
    • Prime location near the Central Expressway and across from the Plano Event Center (undergoing a $3.2 million renovation and planned 4‑star hotel addition).
    • Both 1801 and 1805 E Spring Creek Parkway are included in a single transaction.
    Property Profile Location Intelligence

    Current Use by Public Records

    Center Car Wash Car Wash

    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
    Plano
    County
    Collin
    State
    Texas
    Longitude
    -96.687113679827
    Latitude
    33.057130186928

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    FAQs

    What type of property is this?
    Individual retail property - High-Cash Flow Retail Portfolio in Plano, TX
    Where is this individual retail property located?
    The property is located at 1801 Spring Creek Pkwy Plano, TX.
    What are key features of this property?
    This property features: 13,060 SF mixed-use storefront property in Plano, TX.; 100% occupied with an existing car wash and leased batting cage facility, generating immediate cash flow.; Located on a 1.875-acre lot at 1801 and 1805 E Spring Creek Pkwy, Plano, TX 75074.
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    1801 Spring Creek Pkwy Plano, TX 75074
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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
    1801 Spring Creek Pkwy Plano, TX 75074
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    We can help!
    Listing Contact
    Reese Davis
    Reese Davis
    Real Estate License ID: 790082
    Learn more
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