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

    2240 State Hwy 121 Plano, TX 75025-5100

    • Commercial real estate
    • 7,500 SF
    • 2.39 lot acres
    OFF-MARKET
    Value Estimations
    $655,000
    Show details
    Cap Rate Potential
    8.1%
    Commercial real estate
    Location Intelligence
    Property ID
    US82-5305205
    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

    • Fossil Creek Liquor- Custer / Specialty Food Shop / Wine and Liquor Store

    Property Details for 2240 State Hwy 121

    Year built
    2014
    Lot size
    2.39 lot acres
    Property size
    7,500 SF
    Property type
    Commercial real estate
    APN
    R-5026-00A-0050-1
    APU
    R502600A00501

    Description

    This exceptional 3,500 square foot restaurant space is available for lease in the vibrant city of Plano, Texas. Located at 2240 State Highway 121, this single-tenant property offers a fantastic opportunity for a discerning restaurateur. Situated in Collin County, with a convenient zip code of 75025, this location boasts high visibility and accessibility, ensuring significant foot traffic and easy access for customers. The entire building is currently vacant, presenting a blank canvas for a new culinary concept. The property is classified as retail, specifically designed for restaurant use, and offers ample space to create a memorable dining experience. With its prime location and substantial square footage, this property is ideal for a variety of restaurant styles and sizes. The property's address is 2240 State Highway 121, Plano, TX 75025. This is a single-tenant space, providing complete control and customization for the lessee. The property is ready for immediate occupancy, allowing for a swift and efficient launch of your business. Don't miss this chance to establish your restaurant in a thriving area with high potential for success. Contact us today to schedule a viewing and explore the possibilities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $510,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $685,000
      6.5%
      $635,000
      7%
      $590,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $677,000
      Market price range: $331k - $856k

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

    Location Insight

    • Map
    • Local Demand
    City
    Plano
    County
    Collin
    State
    Texas
    Longitude
    -96.7336
    Latitude
    33.1235
    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
    $47,357
    $1,434,474
    $1,276,385
    $2,710,859
    -
    $1,434,474
    $1,276,385
    $2,710,859

    Comparable in this City

    • Value Estimation
      $3,435,000
      73,742 SF

      9700 Coit Rd

      COMMERCIAL (GENERAL) • 73,742 SF
      9700 Coit Rd, Plano, TX 75025-5832
      View Details
    • Value Estimation
      $670,000
      13,578 SF

      8940 Coit Rd

      COMMERCIAL (GENERAL) • 13,578 SF
      8940 Coit Rd, Plano, TX 75025-3804
      View Details
    • Value Estimation
      $2,125,000
      28,898 SF

      9720 Coit Rd

      COMMERCIAL (GENERAL) • 28,898 SF
      9720 Coit Rd, Plano, TX 75025-5833
      View Details
    • Value Estimation by Request
      6,864 SF

      10557 Custer Rd

      COMMERCIAL (GENERAL) • 6,864 SF
      10557 Custer Rd, Plano, TX 75025-5144
      View Details
    • Value Estimation
      $825,000
      12,200 SF

      10205 Custer Rd

      COMMERCIAL (GENERAL) • 12,200 SF
      10205 Custer Rd, Plano, TX 75025-5138
      View Details
    • Value Estimation
      $5,405,000
      120,252 SF

      2560 Kathryn Ln

      COMMERCIAL (GENERAL) • 120,252 SF
      2560 Kathryn Ln, Plano, TX 75025-5245
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1.25 Acres

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      Prime Plano land, ideal for commercial development.
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      Land available for sale in Plano, Texas.
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      Freestanding CVS with Drive-Thru

      Corporately guaranteed CVS, located in a growing, affluent community.
      10001 Custer Rd, Plano, TX 75025
      View Details
    • $5,280,000
      13,200 SF

      Plano Office Building - 1.45 Acres

      Prime Plano Office, Vacant on Sale
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    • $4,500,000
      12,900 SF

      Plano CVS Retail Investment

      High-yield, NNN-leased CVS in prime Plano location.
      10001 Custer Rd, Plano, TX 75025
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    Similar Nearby for Lease

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      17,509 SF

      Plano Pad Sites: Ground Lease Opportunity

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      View Details
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      Two-story office building with renovated interior, near US-75.
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      View Details
    • Contact for pricing
      2,189 SF

      Retail Space Near Kohl's

      Retail space available in Plano, shadow-anchored by Kohl’s.
      2300 Mcdermott Rd, Plano, TX 75025
      View Details
    • Contact for pricing
      3,520 SF

      Plano Retail Space Available

      Prime Plano retail, multiple spaces.
      7801 Alma Dr, Plano, TX 75025
      View Details
    • Contact for pricing
      25,000 SF

      Plano Retail Space Available

      25,000 SF retail space with high visibility and access.
      2400 Mcdermott Rd, Plano, TX 75025
      View Details
    • Contact for pricing
      4,172 SF

      Class A Medical Office Space

      Medical office suites available for lease in Plano, Texas.
      8080 Independence Pkwy, Plano, TX 75025
      View Details
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    2240 State Hwy 121
    Plano, TX 75025-5100
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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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