Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    609 E 16Th St Plano, TX 75074
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    609 E 16Th St Plano, TX 75074

    View on Map
    • Commercial land
    • 1,520 SF
    For Sale
    $889,000
    View Listing →
    Downtown Plano Development Opportunity For Sale
    $889,000
    0.94 Acres

    Downtown Plano Development Opportunity

    Commercial property in downtown Plano, zoned Corridor Commercial.

    609 E 16th Street, Plano, TX 75074
    View Listing
    Property ID
    US82-2647599
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial land

    Property Details for 609 E 16Th St

    Year built
    1891
    Property size
    1,520 SF
    Property type
    Commercial land
    Property subtype
    Commercial real estate

    Description

    **Prime Development Opportunity in Downtown Plano** This unique commercial property offers almost an acre of potential in the heart of downtown Plano, zoned as Corridor Commercial. Whether you're envisioning retail, office spaces, or mixed-use development, this site offers incredible flexibility t ... o bring your vision to life. Located a couple of blocks east of the 75 Fwy. The property has a historic home built in 1891, designated for its architectural and cultural significance. While preserving its rich history, you have the opportunity to blend its charm with modern functionality to create a standout commercial landmark. The house is designated as H-10 and H-20. Downtown Plano’s vibrant atmosphere, coupled with its proximity to thriving businesses, dining, and entertainment, makes this property a rare find. With nearly an acre of prime real estate, the possibilities are vast. Please refer to the docs at transaction desk for current permitted uses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Plano
    County
    Collin
    State
    Texas
    Longitude
    -96.706776
    Latitude
    33.0217236

    Comparable in this City

    • Contact for pricing

      Prime Land Opportunity in Plano

      Infill land for sale in affluent Plano, Texas.
      6601 K Ave, Plano, TX 75074
      View Details
    • Contact for pricing

      Downtown Plano Development Opportunity

      Commercial property in downtown Plano, zoned Corridor Commercial.
      609 E 16Th St, Plano, TX 75074
      View Details
    • $2,560,000
      2.67 Acres

      Prime Development Opportunity in Plano

      2.67-acre land parcel along US-75 corridor in Plano, Texas.
      0000 18Th St, Plano, TX 75074
      View Details
    • $1,400,000

      Plano Redevelopment Opportunity on Legacy

      Freestanding building near Samsung headquarters and Watters Creek shopping center.
      6700 K Ave, Plano, TX 75074
      View Details
    • Contact for pricing

      1.649 Acre Pad Site

      1.649 acre pad site available for sale.
      14th St & Shiloh Rd, Plano, TX 75074
      View Details
    • Contact for pricing
      5,834 SF

      Historic Mixed-Use Landmark in Plano

      Historic mixed-use property with retail and residential spaces.
      1617 K Ave, Plano, TX 75074
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Prime Land Opportunity in Plano

      Infill land for sale in affluent Plano, Texas.
      6601 K Ave, Plano, TX 75074
      View Details
    • Contact for pricing

      Downtown Plano Development Opportunity

      Commercial property in downtown Plano, zoned Corridor Commercial.
      609 E 16Th St, Plano, TX 75074
      View Details
    • $2,560,000
      2.67 Acres

      Prime Development Opportunity in Plano

      2.67-acre land parcel along US-75 corridor in Plano, Texas.
      0000 18Th St, Plano, TX 75074
      View Details
    • $1,400,000

      Plano Redevelopment Opportunity on Legacy

      Freestanding building near Samsung headquarters and Watters Creek shopping center.
      6700 K Ave, Plano, TX 75074
      View Details
    • Contact for pricing

      1.649 Acre Pad Site

      1.649 acre pad site available for sale.
      14th St & Shiloh Rd, Plano, TX 75074
      View Details
    • Contact for pricing
      5,834 SF

      Historic Mixed-Use Landmark in Plano

      Historic mixed-use property with retail and residential spaces.
      1617 K Ave, Plano, TX 75074
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Paved Parking Spaces For Rent

      2.84 acres of paved parking spaces available for rent.
      901 Jupiter Rd, Plano, TX 75074
      View Details
    • Contact for pricing

      Plano Land Pad Opportunities

      Land available for lease in Plano, Texas.
      700 E Plano Pkwy, Plano, TX 75074
      View Details
    • Contact for pricing

      Retail Space For Lease

      Retail space available for lease in Plano, Texas.
      3540 14Th St, Plano, TX 75074
      View Details
    • $2,000 /Mo
      158,384 SF

      Plano Horse Property For Lease

      3.6 acre lot ideal for horse lovers and livestock.
      3931 Ranch Estates Cir, Plano, TX 75074
      View Details
    • Contact for pricing

      Plano Flex, Industrial, Office Space

      Flex, industrial, and office spaces available for lease in Plano.
      1501 Placid&1004 Ave N, Plano, TX 75074
      View Details
    • Contact for pricing

      Retail Space in Plano Center

      Retail space available in an Aldi-anchored shopping center.
      2404 K Ave, Plano, TX 75074
      View Details
    View Listing
    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.
    609 E 16Th St
    Plano, TX 75074
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!