Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    451 University Dr Mckinney, TX 75069-1812
    Back to Search
    Property profile & analytics

    451 University Dr, Mckinney, TX 75069-1812

    View on Map
    • Commercial real estate
    • 4,162 SF
    • 1.22 lot acres
    Off-Market
    Last Sale Apr 13, 2023
    Property ID
    US82-7105657
    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
    $805,000
    Show details
    Cap Rate Potential
    9.5%
    Commercial real estate
    Location Intelligence

    Current Use by Public Records

    • Sparky's Car Wash McKinney / Car Wash

    Property Details for 451 University Dr

    Year built
    2022
    Lot size
    1.22 lot acres
    Zone code
    COMM
    Property type
    Commercial real estate
    APN
    R-11766-00A-02R1-1
    APU
    R1176600A02R11

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 13, 2023 — V Wash LLC Sparkys Car Wash Mckinney LLC Venders Lien $5M · Metro City Bank
    Jan 19, 2022 — Sparkys Car Wash LLC — Deed · related $3.8M · Celtic Bank Corporation

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $650,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,030,000
      6.5%
      $950,000
      7%
      $885,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $817,000
      Market price range: $235k - $817k

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

    Location Insight

    • Map
    • Local Demand
    City
    Mckinney
    County
    Collin
    State
    Texas
    Longitude
    -96.6105
    Latitude
    33.2108
    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
    2023
    $41,163
    $1,010,548
    $2,593,738
    $3,604,286
    -
    $1,010,548
    $2,593,738
    $3,604,286

    Comparable in this City

    • Value Estimation by Request
      263,633 SF

      329 Town Pl

      Retail properties & Spaces
      329 Town Pl, McKinney, TX 75069
      View Details
    • Value Estimation by Request
      2.40 Acres

      910 State Hwy 5 Hwy

      Commercial real estate
      910 State Hwy 5 Hwy, Fairview, TX 75069
      View Details
    • Value Estimation by Request
      2.22 Acres

      1500 Industrial Blvd

      COMMERCIAL (GENERAL)
      1500 Industrial Blvd, Mckinney, TX 75069-7516
      View Details
    • Value Estimation by Request
      0.06 Acres

      Mckinney, TX 75069

      COMMERCIAL (GENERAL)
      Mckinney, TX 75069
      View Details
    • Value Estimation by Request

      Muse Pkwy

      Land
      0 Muse Pkwy, McKinney, TX 75069
      View Details
    • Value Estimation by Request
      1,200 SF

      2431 University Dr

      COMMERCIAL (GENERAL)
      2431 University Dr, Mckinney, TX 75069-4795
      View Details

    Similar Nearby for Sale

    • $2,600,942
      2.40 Acres

      Fairview Retail/Office Land - 2.4 Acres

      Prime Fairview location, high-growth area, excellent visibility.
      910 State Hwy 5 Hwy, Fairview, 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
      1,200 SF

      Medical Office with Exam Rooms

      Versatile office space in a prime location, newly renovated.
      4833 Medical Center Dr, 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
    • $625,000

      Land For Sale Fairview, TX

      Land available in Fairview, Texas.
      701 Meandering Way, Fairview, TX 75069
      View Details
    • $4,809,024
      204,339 SF

      Prime Commercial Land in McKinney

      4.6-acre lot suitable for retail, warehouse, or car wash.
      170 Harry Mckillop Blvd, McKinney, TX 75069
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,350 SF

      Medical Office Space Available

      Medical office space for rent in McKinney, Texas.
      1505 Harroun Ave, McKinney, TX 75069
      View Details
    • Contact for pricing
      6,433 SF

      Fairview Town Center Retail Space

      Retail spaces available in Fairview Town Center, ranging from 1,416-13,210 SF.
      311-351 Town Pl, Fairview, TX 75069
      View Details
    • Contact for pricing
      2,404 SF

      Fairview Retail Spaces For Lease

      Retail spaces available in Fairview Town Center.
      100-310 Prairie Rd, Fairview, TX 75069
      View Details
    • Contact for pricing
      2,118 SF

      Retail Space in Fairview Town Center

      Retail spaces available in a popular open-air shopping center.
      103-199 Town Pl, Fairview, TX 75069
      View Details
    • Contact for pricing

      Downtown McKinney Vacant Land

      Vacant lots in downtown McKinney, near shops and restaurants.
      306-310 S Kentucky St, McKinney, TX 75069
      View Details
    • Contact for pricing

      McKinney Warehouse Space Available

      Warehouse space available for lease in McKinney, Texas.
      1600 South Airport Dr, McKinney, TX 75069
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    451 University Dr
    Mckinney, TX 75069-1812
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    451 University Dr, Mckinney, TX, 75069
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!