Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    142 Mccormick Rd Oak Point, TX 75068
    Property profile & analytics

    142 Mccormick Rd, Oak Point, TX 75068

    View on Map
    • Specialty properties
    • 10,472 SF
    • 1.60 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Specialty properties

    Property Details for 142 Mccormick Rd

    Year built
    2024
    Lot size
    1.60 lot acres
    Property type
    Specialty properties
    Property subtype
    Schools

    Description

    This exceptional investment opportunity presents a brand-new, 10,472-square-foot Goddard School located at 142 McCormick Rd, Oak Point, TX 75068. Built in 2024, the property boasts a 15.1-year triple-net (NNN) lease with a prominent childcare franchise, Goddard Systems, Inc., eliminating landlord responsibilities. The lease commenced September 1st, 2024, and expires September 30th, 2039, with a remaining term of 14.9 years. The lease includes annual rent bumps of 2%, ensuring consistent income growth. Three five-year lease options further enhance the long-term security of this investment. The property sits on a 1.6-acre lot and commands a price per square foot of $700.28, with an asking price of $7,333,333 and a current cap rate of 6.75%. The property currently enjoys 100% occupancy, generating a net operating income (NOI) of $495,000. Strategically located in the rapidly growing Oak Point area, just 25 miles north of Dallas-Fort Worth International Airport (DFW) and 40 miles from downtown Dallas, the property benefits from high visibility on US Highway 380/E University Drive, experiencing over 37,000 vehicles per day. The surrounding area is undergoing significant development, including a planned expansion of 400 acres for residential, retail, commercial, parks, and open space. The strong demographics include an average household income of $131,466 and a population of 121,407 within a 5-mile radius, supported by seven elementary feeder schools within the same proximity. This presents a secure, high-return investment with significant long-term potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Oak Point
    County
    Denton
    State
    Texas
    Longitude
    -96.9778
    Latitude
    33.1859

    Comparable in this City

    • Value Estimation by Request
      12,000 SF

      2045 Fm 423

      Retail properties & Spaces
      2045 Fm 423, Little Elm, TX 75068
      View Details
    • Value Estimation by Request

      301 Eldorado Pkwy

      Lifestyle centers
      301 Eldorado Pkwy, Little Elm, TX 75068
      View Details
    • Value Estimation by Request

      380 & Un Park Blvd

      Lifestyle centers
      380 & Un Park Blvd, Aubrey, TX 75068
      View Details
    • Value Estimation by Request
      2,000 SF

      25643 Smotherman Rd

      Distribution properties
      25643 Smotherman Rd, Little Elm, TX 75068
      View Details
    • Value Estimation by Request
      25,900 SF

      27100 Us-380

      Individual retail properties
      27100 Us-380, Little Elm, TX 75068
      View Details
    • Value Estimation by Request
      10,877 SF

      2960 Farm To Market Rd

      Lifestyle centers
      2960 Farm To Market Rd, Oak Point, TX 75068
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,120 SF

      Commercial Land Near Toll Bridge

      Commercial land with frontage on Eldorado Parkway, near Lake Lewisville.
      3885 W Eldorado Pkwy, Little Elm, TX 75068
      View Details
    • Contact for pricing

      Prime Location Commercial Property Auction

      Commercial property on 1.44 acres in a prime location.
      8989 Fm 423, Little Elm, TX 75068
      View Details
    • Contact for pricing
      35,520 SF

      Retail Property Near Major Anchors

      Retail property near HEB and upcoming Walmart.
      760 Gordon Hts Ln, Little Elm, TX 75068
      View Details
    • Contact for pricing
      11,602 SF

      Restaurant/Retail and Medical Space

      Restaurant/Retail and Medical space available for sale.
      1180 E Eldorado Pkwy, Little Elm, TX 75068
      View Details
    • Contact for pricing
      13,800 SF

      New Construction Retail/Office Building

      New 13,800 SF building on Eldorado Parkway in Little Elm.
      1000 W Eldorado Pkwy, Oak Point, TX 75068
      View Details
    • Contact for pricing
      2,500 SF

      Retail Space in Little Elm

      Retail space available for lease in Little Elm, Texas.
      1104 W Eldorado Pkwy, Little Elm, TX 75068
      View Details

    Similar Nearby for Lease

    • $2,700 /Mo

      Kroger-Adjacent Specialty Space

      Specialty space for lease with convenient access right after Kroger on Little Elm Parkway.
      2601 Little Elm Pkwy, Little Elm, TX 75068
      View Details
    • Contact for pricing

      Retail Space Available

      Retail property for lease in Little Elm, Texas.
      550 E Eldorado Pkwy, Little Elm, TX 75068
      View Details
    • Contact for pricing

      Retail Space in Established Plaza

      Retail space in a busy plaza with strong traffic drivers.
      1000 W Eldorado Pkwy, Little Elm, TX 75068
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      Retail spaces available, ranging from 1,435 to 2,397 SqFt.
      407 W Eldorado Pkwy, Little Elm, TX 75068
      View Details
    • Contact for pricing
      41,370 SF

      New Retail Space Available

      New construction retail space available in a shopping center.
      2140 Oak Grove Pkwy, Little Elm, TX 75068
      View Details
    Request Owner's contact information
    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.
    142 Mccormick Rd
    Oak Point, TX 75068
    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
    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

    Thank You for Inquiry
    142 Mccormick Rd, Oak Point, TX, 75068
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!