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

    2740 Virginia Pkwy McKinney, TX 75071

    • Office buildings
    • 7,475 SF
    • 0.76 lot acres
    For Lease
    View listing
    $24 SF/Yr
    Last Sale
    Mar 29, 2022
    Value Estimations
    $545,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-1434662
    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

    • Family Allergy Clinic / Medical Clinic
    • Family Allergy Clinic Dr. Richard A. Page / Medical Clinic
    • NeuLine Aesthetics / Spa & Massage Center / Alternative Medicine Practice
    • MELONY ANN CHILCOAT / Pediatrician / Physician
    • Sohail Ahmad Saeed / Pediatrician / Physician

    Property Details for 2740 Virginia Pkwy

    Year built
    2003
    Lot size
    0.76 lot acres
    Property size
    7,475 SF
    Zone code
    COMM
    Property type
    Office buildings
    APN
    R-4558-00A-0060-1
    APU
    R455800A00601

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $485,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $604,000
      Market price range: $341k - $627k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $475,000
      Current use
      COMMERCIAL (GENERAL)
      $800,000
      Change: +69% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Mckinney
    County
    Collin
    State
    Texas
    Longitude
    -96.6514
    Latitude
    33.1993
    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
    $36,874
    $526,208
    $1,588,378
    $2,114,586
    -
    $526,208
    $1,588,378
    $2,114,586

    Comparable in this City

    • Value Estimation
      $720,000
      10,922 SF

      8995 University Dr

      OFFICE BUILDING • 10,922 SF
      8995 University Dr, Mckinney, TX 75071-4806
      View Details
    • Value Estimation
      $845,000
      14,007 SF

      6051 Virginia Pkwy

      OFFICE BUILDING • 14,007 SF
      6051 Virginia Pkwy, Mckinney, TX 75071-5853
      View Details
    • Value Estimation
      $1,165,000
      18,368 SF

      1501 Hardin Blvd

      OFFICE BUILDING • 18,368 SF
      1501 Hardin Blvd, Mckinney, TX 75071-2342
      View Details
    • Value Estimation
      $1,165,000
      18,368 SF

      1501 Hardin Blvd

      OFFICE BUILDING • 18,368 SF
      1501 Hardin Blvd, Mckinney, TX 75071-2342
      View Details
    • Value Estimation
      $1,165,000
      18,368 SF

      1501 Hardin Blvd

      OFFICE BUILDING • 18,368 SF
      1501 Hardin Blvd, Mckinney, TX 75071-2342
      View Details
    • Value Estimation
      $600,000
      11,187 SF

      5601 Virginia Pkwy

      OFFICE BUILDING • 11,187 SF
      5601 Virginia Pkwy, Mckinney, TX 75071-5533
      View Details

    Similar Nearby for Sale

    • $3,800,000
      11,116 SF

      McKinney Office Building For Sale

      11,116 SF office building in McKinney, TX for sale.
      5601-5605 Virginia Pkwy, McKinney, TX 75071
      View Details
    • $995,000
      1,200 SF

      McKinney Office Building - High Visibility

      Prime Office Building, High Traffic Area, 1 Acre Lot
      8301 University Dr, McKinney, TX 75071
      View Details
    • Contact for pricing
      19,773 SF

      Medical/Office Condos Near Baylor

      Shell condition condos near Baylor Scott & White Medical Center.
      2168 N Lake Forest Dr, McKinney, TX 75071
      View Details
    • Contact for pricing
      8,348 SF

      McKinney Medical Office Building

      8,348 SF medical office building in McKinney, Texas for sale.
      5531 Virginia Pkwy, McKinney, TX 75071
      View Details
    • Contact for pricing
      13,077 SF

      Prime McKinney Office Condos

      Class A Office Space, 13,077 SF, For Sale/Lease
      1870 Stonebridge Dr, McKinney, TX 75071
      View Details
    • $4,000,000
      11,187 SF

      McKinney Office Building: 11,187 SF

      Prime McKinney office, 1.15 acres, 100% leased.
      5601 Virginia Pkwy, McKinney, TX 75071
      View Details

    Similar Nearby for Lease

    • $32 SF/Yr
      111,775 SF

      Office and Restaurant Space Available

      Office and restaurant spaces for lease in McKinney, Texas.
      7200 W University Dr, McKinney, TX 75071
      View Details
    • $22 SF/Yr
      9,018 SF

      McKinney Medical Office Space

      Prime medical office, 1-story building, Collin County.
      1650 Lake Forest Dr, McKinney, TX 75071
      View Details
    • Contact for pricing
      1,035 SF

      Retail Space Facing Custer

      Retail space in Sprouts and La Fitness anchored center.
      140 S Custer Rd, McKinney, TX 75071
      View Details
    • $24 SF/Yr
      2,670 SF

      Medical/Office Space Available

      Medical and office suites available for sublease.
      2740 Virginia Pkwy, McKinney, TX 75071
      View Details
    • $3,500 /Mo
      43,560 SF

      Versatile McKinney Property with Highway Frontage

      One-acre property with historic structure, outbuildings, and highway visibility.
      3874 N Mcdonald St, McKinney, TX 75071
      View Details
    • $4,800 /Mo

      Class A Professional/Medical Suite

      Premium, move-in ready suite with high visibility in McKinney, TX.
      1400 N Coit Rd, McKinney, TX 75071
      View Details
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    McKinney, TX 75071
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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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