5068 W Plano Pkwy Plano, TX 75093

Property Details for 5068 W Plano Pkwy

Year built

1986

Lot size

6.00 lot acres

Property size

104,671 SF

Zone code

O-M

Property type

Office buildings

APN

R-1820-001-0010-1

APU

R182000100101

Description

Parkway Commons, a three-story office building in Plano, Texas, presents a compelling owner-user opportunity. This 102,866 square foot property, situated on a six-acre lot, offers a blend of executive and medical office spaces. Built in 1986 and extensively renovated in 2022, the building boasts a 54% occupancy rate, with over 45,000 square feet immediately available. The property features small floor plates, ideal for small and mid-size businesses, and benefits from a diverse tenant base. Located at 5068 W Plano Pkwy, Plano, TX 75093, Parkway Commons enjoys excellent access to major transportation networks, including proximity to the President George Bush Turnpike. The building provides ample parking, with 3.5 spaces per 1,000 square feet. Its location within a thriving residential and medical area, near the intersection of Plano Parkway and Preston Road, ensures strong demand. The property offers significant potential for an owner-occupant seeking to control their real estate costs and capitalize on long-term land appreciation. The asking price per square foot is $350, representing a discount to replacement cost. This presents a unique chance to acquire a well-maintained asset in a prime Plano location with immediate occupancy potential and strong cash flow from existing tenants. The six-acre lot provides long-term optionality for future development. The property's location in the robust Dallas/Fort Worth market, known for its diversified economy and strong population and job growth, further enhances its investment appeal.

Location Insight

City

Plano

County

Collin

State

Texas

Longitude

-96.7983

Latitude

33.0153

CBSA code

19100

CBSA name

DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments