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    1505 Custer Rd Plano, TX 75075

    Sponsored
    For Lease
    $15 SF/Yr ($10,000 /Mo)

    High-traffic retail space, flexible layout

    Lot size:
    8,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    406
    This exceptional retail opportunity in Plano, Texas, presents 2,100 square feet of vacant space within an 8,000-square-foot building situated on a 1.13-acre lot at 1505 Custer Rd, Plano, TX 75075. The property, built in 1987 and featuring a single-story building, offers a flexible layout divisible down to 1,000 square feet, perfect for customization to suit various retail needs. Currently, a cold open dark shell, this space allows for a complete build-out. The property benefits from a high-traffic location with over 27,000 vehicles passing daily, ensuring excellent visibility and accessibility. Its PD-79R zoning accommodates a wide range of commercial uses. The existing tenants, an auto repair service and a dent repair business, create a synergistic environment, particularly attractive to automotive-related or service-oriented businesses. The property's location in the Central Plano submarket offers access to a robust demographic base. Detailed demographic reports and market studies are available to support informed decision-making. This is a prime opportunity to establish a thriving retail presence in a high-growth area of Plano. The cross street is 15th St, and the APN is R16550.

    Property Features for 1505 Custer Rd

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    8,000 SF
    Total Rate
    10000

    Building Details

    Year Built
    1987
    Buildings
    1
    Stories
    1

    Unit(s) available at that property

    Space
    Available Space 1
    Size
    2,100 SF
    Rate per SF
    $15

    We can help!

    Listing Contact
    Darrin Coles CCIM
    Darrin Coles CCIM

    Learn more

    Property Insight Report

    HighLights

    • 2,100 SF vacant retail space available in a 8,000 SF building on a 1.13‑acre lot in Plano, TX.
    • Divisible to 1,000 SF, offering flexible layout for customization.
    • High‑traffic location with over 27,000 vehicles passing daily, providing excellent visibility.
    • PD‑79R zoning allows for diverse commercial uses.
    • Located at 1505 Custer Rd, Plano, TX 75075 (APN R16550, Cross Street: 15th St).
    Property Profile Location Intelligence

    Current Use by Public Records

    Speedy Lube And Tech ... Auto Repair Shop DentMax Auto Collision Auto Body Shop Logic Lube Auto ... Auto Repair Shop

    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
    Plano
    County
    Collin
    State
    Texas
    Longitude
    -96.7341869
    Latitude
    33.020313

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    FAQs

    What type of property is this?
    Retail property - High-traffic retail space, flexible layout
    Where is this retail property located?
    The property is located at 1505 Custer Rd Plano, TX.
    What is the lease rate?
    The lease rate is $15 SF/Yr.
    What are key features of this property?
    This property features: 2,100 SF vacant retail space available in a 8,000 SF building on a 1.13-acre lot in Plano, TX.; Divisible to 1,000 SF, offering flexible layout for customization.; High-traffic location with over 27,000 vehicles passing daily, providing excellent visibility.
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    Plano, TX 75075
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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
    1505 Custer Rd Plano, TX 75075
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    We can help!
    Listing Contact
    Darrin Coles CCIM
    Darrin Coles CCIM
    Real Estate License ID: 0755167
    Learn more
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