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    1575 Heritage Dr McKinney, TX 75069
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    Property profile & analytics

    1575 Heritage Dr, McKinney, TX 75069

    View on Map
    • Office buildings
    • 50,571 SF
    • 2.68 lot acres
    For Lease
    $25 SF/Yr
    View Listing →
    Heritage Premier Office Building For Lease
    $25 SF/Yr
    48,304 SF

    Heritage Premier Office Building

    Three-story office building in McKinney, Texas, available for lease.

    1575 Heritage Dr, Mckinney, TX 75069
    View Listing
    Property ID
    US82-0583592
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by 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 / Mental Health Service / Family Counselor
    • McKinney Custom Signs | Sign Company / (Bike/Boat/Book/etc) Store / Printing Service

    Property Details for 1575 Heritage Dr

    Year built
    2007
    Lot size
    2.68 lot acres
    Zone code
    O
    Property type
    Office buildings
    APN
    R-1809-00C-002R-1
    APU
    R180900C002R1

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $4,641,000
      Market price range: $2.00M - $6.62M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $4,450,000
      Current use
      COMMERCIAL (GENERAL)
      $6,245,000
      Change: +40% Conversion: Easy

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Mckinney
    County
    Collin
    State
    Texas
    Longitude
    -96.632
    Latitude
    33.2129
    CBSA code
    19100
    CBSA name
    DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $157,811
    $1,283,813
    $7,466,187
    $8,750,000
    -
    $1,283,813
    $7,466,187
    $8,750,000

    Comparable in this City

    • Value Estimation
      $1,895,000
      15,308 SF

      305 Virginia St

      OFFICE BUILDING
      305 Virginia St, Mckinney, TX 75069-4331
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    • Value Estimation by Request
      3,080 SF

      1469 Wattley Way

      OFFICE BUILDING
      1469 Wattley Way, Mckinney, TX 75069-1376
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    • Value Estimation
      $3,880,000
      33,981 SF

      4601 Medical Ctr Dr, Unit 1

      OFFICE BUILDING
      4601 Medical Ctr Dr, Mckinney, TX 75069-1771
      View Details
    • Value Estimation by Request
      2,754 SF

      2540 University Dr

      OFFICE BUILDING
      2540 University Dr, Mckinney, TX 75069-4734
      View Details
    • Value Estimation
      $775,000
      5,489 SF

      1720 Virginia St

      OFFICE BUILDING
      1720 Virginia St, Mckinney, TX 75069-7864
      View Details
    • Value Estimation
      $590,000
      10,500 SF

      1836 Virginia St

      OFFICE BUILDING
      1836 Virginia St, Mckinney, TX 75069-7865
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,453 SF

      Remodeled Retail/Office Building Near Downtown

      Remodeled retail/office building near McKinney's historic downtown.
      500 S Tennessee St, McKinney, TX 75069
      View Details
    • $850,000
      0.23 Acres

      Office Building with 8 Suites

      Multi-suite office building positioned on a high-traffic corridor, offering flexible space for owner-occupants or investors.
      1405 W University Dr, McKinney, TX 75069
      View Details
    • Contact for pricing
      Pending

      Downtown McKinney Mixed-Use Building

      Mixed-use building in vibrant Downtown McKinney, 100% leased.
      205 W Louisiana St, McKinney, TX 75069
      View Details
    • Contact for pricing
      12,446 SF

      Versatile McKinney Commercial Property For Sale

      Freestanding building suitable for offices, retail, medical, and more.
      1450 Redbud Blvd, McKinney, TX 75069
      View Details
    • $1,800,000
      5,000 SF

      Modern Farmhouse-Style Office Building

      Exceptional office building in McKinney, Texas, near major freeways.
      299 Eldorado Pkwy, McKinney, TX 75069
      View Details
    • New
      $1,000,000
      0.33 Acres

      Remodeled Retail Office Building

      Newly remodeled with updated interiors and flexible workspaces, positioned near McKinney’s historic downtown for owner-users or investors.
      500 S Tennessee St, McKinney, TX 75069
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,515 SF

      Updated Office Building For Rent

      Impeccably maintained office building with high visibility and modern amenities.
      2252 E University Dr, McKinney, TX 75069
      View Details
    • Contact for pricing
      2,248 SF

      Class B Office Space Available

      Three-story office building in McKinney, Texas, for lease.
      1575 Heritage Dr, McKinney, TX 75069
      View Details
    • $16 SF/Yr

      Class B Office Space

      Class B office space for lease in McKinney, Texas.
      1600 Redbud Blvd, McKinney, TX 75069
      View Details
    • $26 SF/Yr
      107,680 SF

      Freestanding Office Building with Amenities

      Corner freestanding office building offers outdoor seating, open lobbies, and flexible permitted uses for professional tenants.
      1450 Redbud Blvd, McKinney, TX 75069
      View Details
    • $1.00 SF/Yr
      98,225 SF

      Class A Medical Office Campus

      Class A outpatient facilities with flexible layouts, ample parking, and covered patient drop-off for everyday convenience.
      4510/4820 Medical Center Dr, McKinney, TX 75069
      View Details
    • Contact for pricing

      Heritage Premier Office Building

      Three-story office building in McKinney, Texas, available for lease.
      1575 Heritage Dr, McKinney, TX 75069
      View Details
    View Listing
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    McKinney, TX 75069
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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.

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