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    Nec Dallas Pkwy & Lgt Farms Way Pilot Point, TX 75009
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    Nec Dallas Pkwy & Lgt Farms Way Pilot Point, TX 75009

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    • Office properties & Spaces
    • 1 SF
    • 1.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office properties & Spaces

    Property Details for 0 Nec Dallas Pkwy & Lgt Farms Way

    Lot size
    1.00 lot acres
    Property size
    1 SF
    Property type
    Office properties & Spaces
    Property subtype
    Medical Office Space

    Description

    This exceptional 1-acre parcel, situated at the northeast corner of Dallas Parkway and Light Farms Way in Celina, Collin County, Texas (zip code 75009), presents a unique investment opportunity. The property is designated for medical office development and boasts a highly desirable location within a rapidly expanding market. Surrounding the site are over 7,000 residential lots, either recently built or currently under development, ensuring a robust and growing patient base. The property's strategic location offers excellent visibility and accessibility, with Dallas Parkway exhibiting 4,597 vehicles per day and Preston Road showing 29,330 vehicles per day. Further enhancing its appeal, the property is conveniently located less than a mile from Prosper High School (enrolling 2,793 students), an HEB grocery store, Frontier Park, Prosper ISD facilities, and the Children's Health Stadium. The planned extension of Legacy Drive to US-380, projected for completion in Spring 2025, will further improve connectivity and accessibility to this prime location. This is a rare opportunity to acquire a strategically positioned medical office site in one of Texas' fastest-growing areas. The property's size, location, and surrounding infrastructure make it an ideal site for a thriving medical practice or investment portfolio. The 1-square-foot building footprint allows for flexible development plans to suit various medical office needs.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Pilot Point
    County
    Collin
    State
    Texas
    Longitude
    -96.8373
    Latitude
    33.3339

    Comparable in this City

    • Value Estimation by Request
      1,000 SF

      Preston Rd

      Individual retail properties • 1,000 SF
      0 Preston Rd, Celina, TX 75009
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    • Value Estimation by Request
      1 SF

      Nec Dallas Pkwy & Lgt Farms Way

      Medical Office Space • 1 SF
      0 Nec Dallas Pkwy & Lgt Farms Way, Pilot Point, TX 75009
      View Details
    • Value Estimation by Request
      12,000 SF

      Preston Rd

      Restaurants • 12,000 SF
      0 Preston Rd, Celina, TX 75009
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    • Value Estimation by Request
      5.61 Acres

      2350 Louisiana Dr

      Retail properties & Spaces • 5.61 Acres
      2350 Louisiana Dr, Celina, TX 75009
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    • Value Estimation by Request
      5.50 Acres

      9174 Co Rd

      Office properties & Spaces • 1,594 SF
      9174 Co Rd, Celina, TX 75009
      View Details
    • Value Estimation by Request
      6,400 SF

      910 Preston Rd

      Distribution properties • 6,400 SF
      910 Preston Rd, Celina, TX 75009
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

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      Medical Office Space For Lease

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    • $38 SF/Yr
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      Medical Office Space For Lease

      2000 SF medical office space available for lease.
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    • Contact for pricing

      Medical Office Space Available

      Medical office space for lease in Celina, Texas.
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    • New
      $6,000 /Mo
      3,001 SF

      Office Space in Celina, TX

      Office space available for rent in Celina, Texas.
      235 S Preston Rd, Celina, TX 75009
      View Details
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    Pilot Point, TX 75009
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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
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