Property profile

3791 Virginia Pkwy McKinney, TX 75071

OFF-MARKET
Lifestyle centers
17,958 SF 2.31 ac lot Built 2024
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Property summary

AI-generated overview

This exceptional 17,958-square-foot shopping center in McKinney, Texas, presents a compelling investment opportunity. Built in 2024, this stabilized, multi-tenant property boasts 100% occupancy across four tenants, all under NNN leases with scheduled rent increases. The two-building complex features a modern design, situated on a 2.31-acre lot with ample concrete parking. Two end-cap suites offer convenient drive-thru access, enhancing tenant appeal. Located on Virginia Parkway near Hardin Boulevard, the center benefits from high daily traffic counts (51,912 vehicles) and excellent visibility. The property's strategic location within a thriving retail corridor, surrounded by affluent residential communities, ensures strong tenant performance and consistent cash flow. Average household incomes within a five-mile radius exceed $131,933, supporting a robust consumer base. The proximity to major employers, including Raytheon's new manufacturing center and Collin College, further strengthens the property's long-term prospects. This turnkey investment offers a 6.00% cap rate and a strong NOI of $670,711, making it an ideal addition to any portfolio. The property's six units are spread across two buildings, offering flexibility and potential for future growth. The leases are all new 10-year terms, providing long-term stability and predictable income. National tenants occupy 68% of the gross leasable area, further solidifying the investment's value. This is a rare opportunity to acquire a high-performing retail asset in one of Texas's fastest-growing markets.

Property profile

Verified
Property type Lifestyle centers
Year built 2024
Total area 17,958 SF
Lot 2.31 ac (100,624 SF)

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Pediatrician

Location

3791 Virginia Pkwy McKinney, TX 75071
McKinney metro
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Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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