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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2012 Midway Rd Plano, TX 75093-8400

    • Commercial real estate
    • 7,040 SF
    • 1.06 lot acres
    OFF-MARKET
    Last Sale
    Dec 27, 2023
    Value Estimations
    $610,000
    Show details
    Cap Rate Potential
    8.3%
    Commercial real estate
    Location Intelligence
    Property ID
    US82-1714875
    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.

    Current Use by Public Records

    • Hughes David / Law Firm

    Property Details for 2012 Midway Rd

    Year built
    2005
    Lot size
    1.06 lot acres
    Property size
    7,040 SF
    Zone code
    LI-1
    Property type
    Commercial real estate
    APN
    R-4311-00A-0080-1
    APU
    R431100A00801

    Description

    This exceptional 7,040 square foot freestanding retail building, situated on a 1.06-acre lot in Plano, Texas, presents a unique investment opportunity. Located at 2012 Midway Rd, 75093, this single-story building boasts a prime location within a thriving retail corridor, offering unparalleled visibility and accessibility. The property benefits from exceptional demographics, with over 140,000 people residing within a three-mile radius, exhibiting average household incomes exceeding $148,000. Its strategic placement at the entrance of Prestonwood Park, a destination attracting over 182,000 monthly visitors, further enhances its appeal. The property's proximity to Prestonwood Baptist Church (average weekly attendance: 15,185) and Prestonwood Christian Academy (enrollment: 1,292 students) guarantees consistent foot traffic and brand exposure. The surrounding area encompasses over 3.8 million square feet of retail space, solidifying its position within a super-regional retail hub. High traffic counts exceeding 76,000 vehicles per day at the intersections of Midway Rd & Park Blvd and Midway Rd & Plano Pkwy ensure maximum visibility and accessibility for your business. This property is offered for sale by owner and represents a compelling investment opportunity in a high-demand location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $465,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $645,000
      6.5%
      $595,000
      7%
      $555,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $765,000
      Market price range: $325k - $1.00M

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

    Location Insight

    • Map
    • Local Demand
    City
    Plano
    County
    Collin
    State
    Texas
    Longitude
    -96.8428
    Latitude
    33.0282
    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
    $30,855
    $1,157,607
    $584,698
    $1,742,305
    -
    $1,157,607
    $584,698
    $1,742,305

    Comparable in this City

    • Value Estimation by Request
      166,978 SF

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    • Value Estimation by Request
      1.51 Acres

      4048 Preston Rd

      COMMERCIAL (GENERAL) • 1.51 Acres
      4048 Preston Rd, Plano, TX 75093-7301
      View Details
    • Value Estimation
      $3,630,000
      73,200 SF

      4800 Plano Pkwy

      COMMERCIAL (GENERAL) • 73,200 SF
      4800 Plano Pkwy, Plano, TX 75093-5309
      View Details
    • Value Estimation
      $3,980,000
      81,816 SF

      5920 Plano Pkwy

      COMMERCIAL (GENERAL) • 81,816 SF
      5920 Plano Pkwy, Plano, TX 75093-4638
      View Details
    • Value Estimation
      $2,185,000
      25,000 SF

      1000 Preston Rd

      COMMERCIAL (GENERAL) • 25,000 SF
      1000 Preston Rd, Plano, TX 75093-5315
      View Details
    • Value Estimation
      $530,000
      3,387 SF

      3300 Preston Rd

      COMMERCIAL (GENERAL) • 3,387 SF
      3300 Preston Rd, Plano, TX 75093-7404
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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    • $13,500,000
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      62,519 SF Retail Property

      Retail property with showroom finish and secured parking.
      1001 Preston Rd, Plano, TX 75093
      View Details

    Similar Nearby for Lease

    • $24 SF/Yr
      33,200 SF

      Plano Medical Office Space

      Prime Plano location, multiple suites available
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      View Details
    • Contact for pricing
      850 SF

      Plano Industrial Land for Lease

      1.95 acre industrial land with office in Plano.
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      View Details
    • $4,925 /Mo

      Furnished Office Space Available

      Fully-furnished office space with shared amenities and utilities included.
      6275 Office, Plano, TX 75093
      View Details
    • Contact for pricing
      11,881 SF

      Plano Office Space For Rent

      Office space with convenient access to amenities and major thoroughfares.
      6404 International Pkwy, Plano, TX 75093
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    • Contact for pricing
      10,562 SF

      Premier Medical Office Space

      Turnkey medical office near Baylor Scott & White Medical Center.
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    • Contact for pricing
      24,769 SF

      Retail Space in Plano, Texas

      Retail suites available in a dynamic Dallas intersection.
      1601 Preston Rd, Plano, TX 75093
      View Details
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    2012 Midway Rd
    Plano, TX 75093-8400
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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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