Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    3250 Craig Dr McKinney, TX 75070

    Sponsored
    For Sale
    Contact for pricing

    15,544 SF, Single-Tenant, Secure Lease

    Property size:
    15,544 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    406
    This exceptional investment opportunity features a 15,544-square-foot, single-tenant office building in McKinney, Texas. The property is fully occupied by the Social Security Administration (SSA) under a 15-year lease (commencing February 2, 2021, and expiring February 1, 2036), providing a remaining lease term of approximately 11.2 years. The SSA, a tenant with an S&P AA+ rating, occupies the entire building, ensuring secure cash flow and capital preservation backed by the U.S. Federal Government. Located at 3250 Craig Dr, McKinney, TX 75070, this Class B building sits on a 2.55-acre lot, offering convenient access to I-75 and the Sam Rayburn Tollway (SH 121). Built in 2006 as a build-to-suit for the SSA, the property boasts a one-story design and includes recent upgrades such as LED lighting and the replacement of all 12 HVAC units in 2021. The lease renewal included approximately $575,000 in tenant improvements and building systems alterations and commissioning (TI/BSAC) improvements. The property's design incorporates Level II designated security requirements specified by the SSA. The property generates a Net Operating Income (NOI) of $369,968. This investment benefits from the property's location in an income tax-free state and the potential for attractive financing options.

    Property Features for 3250 Craig Dr

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    15,544 SF
    Class
    B
    Lot Size
    111,078 SF

    Building Details

    Year Built
    2006
    Buildings
    1
    Stories
    1

    We can help!

    Listing Contact
    Zachary Ficke
    Zachary Ficke

    Learn more

    Property Insight Report

    HighLights

    • U.S. Government‑backed lease (SSA, S&P AA+ rating).
    • 2006 build‑to‑suit for the Social Security Administration.
    • Located in McKinney, Texas, an income tax‑free state.
    • Excellent access to I‑75 and the Sam Rayburn Tollway (SH 121).
    • 15‑year lease with approximately 11.2 years remaining.
    • Built to Level II security specifications.
    Property Profile Location Intelligence

    Current Use by Public Records

    Social Security Administration Social Security Office

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage 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
    McKinney
    County
    Collin
    State
    Texas
    Longitude
    -96.6456838
    Latitude
    33.1677159

    Nearby Similar for Sale

    • $3,501,680
      1.25 Acres

      McKinney Warehouse with Residential Potential

      1.25 acres with warehouse and 3-bedroom home near McKinney Airport.
      2145 Fm 546, McKinney, TX 75069
      View Details
    • $7,999,999
      5.31 Acres

      McKinney Church and Ministry Campus

      Well-maintained church and ministry campus on 5.3 acres in McKinney.
      2705 Virginia Pkwy, McKinney, TX 75071
      View Details
    • $8,485,000
      49.80 Acres

      Equestrian Estate Near Downtown McKinney

      Premier equestrian property on nearly 50 acres in North Texas.
      520 High Rdg Dr, McKinney, TX 75071
      View Details
    • $799,000
      6.38 Acres

      Land with Equestrian and Agricultural Features

      6.38-acre property suitable for horses, agriculture, and country living.
      2928 Stickhorse Ln, McKinney, TX 75071
      View Details
    • $2,990,000
      0.70 Acres

      Aero Country Airport Hangar Street

      Three contiguous hangar lots at Aero Country Airport in McKinney, TX.
      10015 Jungmeister Ln, McKinney, TX 75071
      View Details
    • $775,000
      0.21 Acres

      New Construction Hangar at Aero Airport

      New construction aircraft hangar for sale at Aero Country East.
      9404 Ragwing Ln, McKinney, TX 75071
      View Details
    • $949,000
      2.11 Acres

      Furnished Office Ready to Occupy

      Move-in ready office in McKinney with high-end finishes and furniture.
      2797 S Stonebridge Dr, McKinney, TX 75072
      View Details
    • New
      $474,900
      0.13 Acres

      McKinney Duplex: Income-Producing Potential

      Charming McKinney duplex, currently successful short-term rentals near downtown.
      1004 Garcia St, McKinney, TX 75069
      View Details
    • $5,000,000
      2.47 Acres

      Corner Office Building with Ample Parking

      Freestanding office building with modern amenities and convenient highway access.
      1450 Redbud Blvd, McKinney, TX 75069
      View Details
    • $1,175,000
      2,880 SF

      Spacious McKinney Farm with Modern Home

      Farm property with modern home, multiple shops, and income.
      4360 County Road 411, McKinney, TX 75071
      View Details
    • $849,999
      1.95 Acres

      Turnkey McKinney Office Opportunity

      2,900 SF medical/professional office in a high-growth area.
      3600 Eldorado Pkwy, McKinney, TX 75070
      View Details
    • $400,000
      11.91 Acres

      Move-in Ready McKinney Office Space

      Professional office space in Stonebridge Ranch, McKinney, TX.
      3900 S Stonebridge Dr, McKinney, TX 75070
      View Details

    FAQs

    What type of property is this?
    Office Property Space - 15,544 SF, Single-Tenant, Secure Lease
    Where is this office property space located?
    The property is located at 3250 Craig Dr McKinney, TX.
    What are key features of this property?
    This property features: U.S. Government-backed lease (SSA, S&P AA+ rating).; 2006 build-to-suit for the Social Security Administration.; Located in McKinney, Texas, an income tax-free state.
    Request Owner's contact information
    3250 Craig Dr McKinney, TX 75070
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3250 Craig Dr
    McKinney, TX 75070
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    3250 Craig Dr McKinney, TX 75070
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Zachary Ficke
    Zachary Ficke
    Real Estate License ID: TX 688207
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.