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

    6220 Virginia Pkwy Mckinney, TX 75071-5863

    • Office buildings
    • 4,700 SF
    • 0.73 lot acres
    OFF-MARKET
    Last Sale
    Feb 06, 2023
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-3900746
    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

    • Pure Oil Life Spa Massage & Cryoskin / Gym & Fitness Center / Alternative Medicine Practice
    • TeamCME / Alternative Medicine Practice
    • MY DOT HEALTH / Alternative Medicine Practice
    • Dr. Adrian Olivares / Alternative Medicine Practice
    • Dr. Richard Miller / Alternative Medicine Practice

    Property Details for 6220 Virginia Pkwy

    Year built
    1997
    Lot size
    0.73 lot acres
    Property size
    4,700 SF
    Property type
    Office buildings
    APN
    R-3520-00A-001A-1
    APU
    R352000A001A1

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Mckinney
    County
    Collin
    State
    Texas
    Longitude
    -96.7016
    Latitude
    33.1996
    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
    $18,602
    $571,590
    $506,567
    $1,078,157
    -
    $571,590
    $506,567
    $1,078,157

    Comparable in this City

    • Value Estimation by Request
      2.40 Acres

      Frst Rdg Ln

      OFFICE BUILDING • 2.40 Acres
      Frst Rdg Ln, Mckinney, TX 75071
      View Details
    • Value Estimation
      $1,015,000
      14,896 SF

      2600 University Dr

      OFFICE BUILDING • 14,896 SF
      2600 University Dr, Mckinney, TX 75071-3208
      View Details
    • Value Estimation
      $555,000
      6,397 SF

      5291 University Dr

      OFFICE BUILDING • 6,397 SF
      5291 University Dr, Mckinney, TX 75071-7093
      View Details
    • Value Estimation
      $3,920,000
      37,511 SF

      5252 University Dr

      OFFICE BUILDING • 37,511 SF
      5252 University Dr, Mckinney, TX 75071-7822
      View Details
    • Value Estimation
      $690,000
      11,674 SF

      1700 Lk Frst Dr

      OFFICE BUILDING • 11,674 SF
      1700 Lk Frst Dr, Mckinney, TX 75071-7600
      View Details
    • Value Estimation
      $505,000
      9,018 SF

      1650 Lk Frst Dr

      OFFICE BUILDING • 9,018 SF
      1650 Lk Frst Dr, Mckinney, TX 75071-7667
      View Details

    Similar Nearby for Sale

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      McKinney Office Building For Sale

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      13,077 SF

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      McKinney Office Building - High Visibility

      Prime Office Building, High Traffic Area, 1 Acre Lot
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      Medical/Office Condos Near Baylor

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      8,348 SF

      McKinney Medical Office Building

      8,348 SF medical office building in McKinney, Texas for sale.
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    • $4,000,000
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      McKinney Office Building: 11,187 SF

      Prime McKinney office, 1.15 acres, 100% leased.
      5601 Virginia Pkwy, McKinney, TX 75071
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    Similar Nearby for Lease

    • $32 SF/Yr
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      Office and Restaurant Space Available

      Office and restaurant spaces for lease in McKinney, Texas.
      7200 W University Dr, McKinney, TX 75071
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    • $33 SF/Yr
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      Crescent Parc Phase II Offices

      McKinney, TX Office Suites Available
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    • $800 /Mo
      187 SF

      Office Space in Adriatica Village

      Office space for rent in McKinney's Adriatica Village.
      6851 Virginia Pkwy, McKinney, TX 75071
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    • $32 SF/Yr

      Class A Medical Office Space

      Move-in ready medical office space with modern finishes and great location.
      1400 N Coit Rd, McKinney, TX 75071
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    • $31 SF/Yr

      Spacious Office Suite in McKinney

      Versatile office space with high ceilings in growing area.
      1400 N Coit Rd, McKinney, TX 75071
      View Details
    • $2,500 /Mo

      Modern Office Space Available

      Functional office space with five private offices and conference room.
      1400 N Coit Rd, McKinney, TX 75071
      View Details
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    Mckinney, TX 75071-5863
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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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