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Property profile & analytics
FOR LEASE
Office buildings
1575 Heritage Dr McKinney, TX 75069
Individually Owned
1-yr Hold
~
Est. High Equity
Property ID
US82-0583592
For Lease
1 / 59
$25 SF/Yr
1575 Heritage Dr, McKinney, TX 75069
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2007
Total area
50,571 SF
Lot
2.68 ac (116,697 SF)
Zoning code
O
APN
R-1809-00C-002R-1
UPID
US82-0583592
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Dr. Charukesi Chandrasekaran, MD: Counseling & Consulting Associates of North Texas Physician
-
Invigorate Chiropractic Alternative Medicine Practice
-
Caylee Lazo - State Farm Insurance Agent Insurance Agency
-
Counseling & Consulting Associates of North Texas Marriage Or Relationship Counselor Counselor
-
McKinney Custom Signs | Sign Company (Bike/Boat/Book/etc) Store Printing Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.64M
Blend (final)
Blend
$5.30M
Owner & transaction history
Merrick C Hayes · 1 yrs held
Merrick C Hayes
since 2025
7 recorded transactions
Zoning & alternative use
O · Mckinney, TX
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$6.2M
+40.3%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs McKinney submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs McKinney submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$4,450,000
Current use
COMMERCIAL (GENERAL)
$6,245,000
Change: +40% · Conversion: Easy
Blend value · Realmo final
$5.30M
Range $4.77M – $5.83M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$105 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$157,811
Tax year 2022
Assessed value
$8,750,000
Assessed 2023
Previous assessed
$7,874,600
+11.1% YoY
Effective rate
1.80%
On assessed value
Assessed land
$1,283,813
Assessed improvement
$7,466,187
Land market value
$1,283,813
Improvement market value
$7,466,187
Total market value
$8,750,000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
2007
Heating
NONE
Stories
1
Total area
50,571 SF
Lot
2.68 ac (116,697 SF)
Zoning code
O
APN
R-1809-00C-002R-1
UPID
US82-0583592
Jurisdiction
COLLIN
Metro division
DALLAS-PLANO-IRVING, TX METROPOLITAN DIVISION
Zoning & alternative use
O · Mckinney, TX
Zoning O · permitted uses
O · Mckinney, TX
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Mckinney. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$4.5M
COMMERCIAL (GENERAL)
Est. value
$6.2M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2007
Heating
NONE
Stories
1
Lot
2.68 ac
Current owner
From public records · entity-resolved
Merrick C Hayes
Individual
Mailing address
4001 QUAIL RDG DR, MCKINNEY, TX 75072-5318
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
15 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 14, 2025
—
Merrick C Hayes
Jmjp Lavon LP
Deed
related
—
Jun 24, 2022
—
Jmjp Lavon LP
Par Capital Heritage LLC
Special Warranty Deed
—
Dec 22, 2020
—
Par Capital-heritage LLC
—
Deed
related
$4,500,000 · B1bank
Dec 10, 2020
—
Trinity Falls Holdings LP
Trf 110 Owner LLC
Grant Deed
related
—
Oct 18, 2019
—
Par Capital-heritage LLC
—
Loan Modification
related
$3,529,304 · Independent Bk
Dec 7, 2018
—
Par Capital-heritage LLC
—
Loan Modification
related
$3,600,434 · Independent Bk
Apr 23, 2014
—
Par Capital-heritage LLC
Jersey Investments INC
Grant Deed
related
—
Apr 14, 2014
—
Par Capital-heritage LLC
Jersey Investments INC
Grant Deed
related
—
Jul 16, 2009
—
Jersey Investments INC
—
Grant Deed
related
$5,556,015 · Independent Bank
—
—
Jersey Investments INC
—
Deed Of Trust
related
$5,587,433 · Independent Bank
—
—
Jersey Investments INC
—
Deed Of Trust
related
$5,587,433 · Independent Bank
—
—
Jersey Investments INC
—
Deed Of Trust
related
$822,220 · Royce D Smith
—
—
Jersey Investments INC
—
Deed Of Trust
related
$5,533,069 · Independent Bank
—
—
Jersey Investments INC
—
Deed Of Trust
related
$5,507,471 · Independent Bank
—
—
Par Capital-heritage LLC
—
Deed Of Trust
related
$4,500,000 · B1bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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