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    Watters And State Hwy 121 McKinney, TX 75013

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    For Lease
    Contact for pricing

    1,386 SF Retail Space - Available Now

    Lot size:
    16,574 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    415
    This exceptional 1,386 square foot retail space is located in the thriving Ridgeview Village in McKinney, Texas. Built in 2014, this single-tenant property offers a fantastic opportunity for businesses seeking a high-visibility location. Situated at the intersection of Watters and State Highway 121, the property benefits from excellent access and high traffic counts, ensuring maximum exposure to potential customers. The building boasts a total of 16,574 square feet, with ample parking available for tenants and their customers – a total of 50 spaces. The property is conveniently located in Collin County, with a zip code of 75013, offering easy access to a vibrant and growing community. The property's classification is retail commercial, making it ideal for a variety of businesses. While 1,386 square feet are currently vacant and available for lease, the property's existing infrastructure and modern design provide a turnkey solution for immediate occupancy. This is a rare opportunity to secure a well-located, modern retail space in a highly desirable area of McKinney, Texas. The property's strategic location and ample parking make it an attractive option for businesses seeking to establish a strong presence in this thriving market. Don't miss this chance to secure your ideal retail location.

    Property Features for 0 Watters And State Hwy 121

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    16,574 SF

    Building Details

    Year Built
    2014

    Unit(s) available at that property

    Space
    1st Floor, Ste 160
    Size
    1,386 SF

    We can help!

    Listing Contact
    Varun Arora

    Learn more

    HighLights

    • 1,386 SF retail space available for lease in McKinney, TX's Ridgeview Village.
    • Fully built‑out standard retail space in excellent condition.
    • Located in‑line with other retailers at the high‑traffic intersection of Watters Rd and SH 121.
    • Lease rate excludes utilities, property expenses, and building services.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    McKinney
    County
    Collin
    State
    Texas
    Longitude
    -96.6930253
    Latitude
    33.1400855

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    FAQs

    What type of property is this?
    Retail property - 1,386 SF Retail Space - Available Now
    Where is this retail property located?
    The property is located at Watters And State Hwy 121 McKinney, TX.
    What are key features of this property?
    This property features: 1,386 SF retail space available for lease in McKinney, TX's Ridgeview Village.; Fully built-out standard retail space in excellent condition.; Located in-line with other retailers at the high-traffic intersection of Watters Rd and SH 121.
    Request Owner's contact information
    Watters And State Hwy 121 McKinney, TX 75013
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    McKinney, TX 75013
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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
    Watters And State Hwy 121 McKinney, TX 75013
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    We can help!
    Listing Contact
    Varun Arora
    Real Estate License ID: TX
    Learn more
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