505 Chestnut St McKinney, TX 75069
- Retail properties
- 1,552 SF
- 0.27 lot acres
Current Use by Public Records
- Retail properties
Property Details for 505 Chestnut St
- Year built
- 1915
- Lot size
- 0.27 lot acres
- Property size
- 1,552 SF
- Property type
- Retail properties
Description
This exceptional 0.27-acre retail property at 505 S Chestnut Street, McKinney, TX, presents a unique investment opportunity. The property boasts a 11,717 square foot lot zoned BN (Business Neighborhood), ideally situated within the rapidly developing Hwy 5 corridor. Currently featuring a 1,552 square foot home, this property offers immediate rental income potential while plans for future commercial development are explored. The strategic location provides significant advantages. A new Starbucks is under construction directly across the street, and the new McKinney City Hall is located nearby, along with a mixed-use development. Further enhancing its appeal, a new strip retail center is currently under construction just south of the property. This prime location ensures high visibility and accessibility, making it an attractive proposition for both short-term rental income and long-term commercial development. The property's potential for significant return on investment is undeniable, given the ongoing redevelopment of the area and the presence of established and emerging commercial entities. This is a rare chance to acquire a piece of McKinney's thriving commercial landscape. The existing structure provides a stable income stream while the buyer plans for future commercial development. Don't miss this chance to capitalize on the growth of McKinney's Hwy 5 corridor.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- McKinney
- County
- Collin
- State
- Texas
- Longitude
- -96.6133
- Latitude
- 33.1924
