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

    515 Preston Rd Celina, TX 75009

    • Commercial real estate
    • 9,944 SF
    • 1.09 lot acres
    For Lease
    View listing
    $33 SF/Yr
    Last Sale
    Jun 13, 2022
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-0888041
    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

    • Celina Veterinary Hospital / Veterinary Clinic
    • Celina Endodontics / Dental Office

    Property Details for 515 Preston Rd

    Year built
    2023
    Lot size
    1.09 lot acres
    Property size
    9,944 SF
    Zone code
    PD
    Property type
    Commercial real estate
    APN
    R-6167-001-1230-1
    APU
    R616700112301

    Description

    This exceptional Class A medical office space, located at 515 S Preston Rd, Celina, TX 75009, offers 2,351 square feet of immediately available space within a larger 9,900 square foot building. Completed in 2024, the single-story building sits on a 1.09-acre lot and features a 14-foot ceiling height. The property is zoned for commercial use and is ideally suited for medical practices requiring ample space and convenient access. The building boasts a total of four suites, allowing for flexibility in tenant configuration. Utilities include water, gas, and heavy-duty electrical service suitable for equipment such as CT and MRI machines. A tenant finish-out allowance of $50 per square foot is available. The property offers a parking ratio of one space per 250 square feet, providing ample parking for patients and staff, including designated accessible parking spaces. This prime location in Celina, Texas presents a unique opportunity for medical professionals seeking a modern, well-equipped space in a thriving community. The minimum divisible space is 2,351 square feet, with a maximum contiguous space of 2,351 square feet currently available.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,175,000
      Market price range: $415k - $1.58M

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

    Location Insight

    • Map
    • Local Demand
    City
    Celina
    County
    Collin
    State
    Texas
    Longitude
    -96.7798
    Latitude
    33.3182
    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
    $19,832
    $953,093
    $705,200
    $1,658,293
    -
    $953,093
    $705,200
    $1,658,293

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    • Value Estimation
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      13,942 SF

      310 Preston Rd

      COMMERCIAL (GENERAL) • 13,942 SF
      310 Preston Rd, Celina, TX 75009-3858
      View Details

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      112.00 Acres

      Celina, TX Commercial Land Tract

      112 Acres of Prime Collin County Land
      & The Collin County Outerloop Neq - Preston Rd, Celina, TX 75009
      View Details

    Similar Nearby for Lease

    • $29 SF/Yr
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      Industrial property for rent in a rapidly growing community.
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    • Contact for pricing
      21,000 SF

      Retail Space Near Future Market

      Retail spaces available near future Sprouts Farmers Market.
      4295 S Preston Rd, Celina, TX 75009
      View Details
    • Contact for pricing
      1,175 SF

      Medical/Professional Space on Preston Road

      Multi-building project with suites available Summer 2025.
      3945 S Preston Rd, Celina, TX 75009
      View Details
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    515 Preston Rd
    Celina, TX 75009
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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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