3791 Virginia PkwyMcKinney, TX 75071

For Sale
$11,187,500
100% Leased Retail Center, High Growth Area

Overview

Added:
Dec 11, 2024
Days on market:
126
This exceptional 17,958-square-foot shopping center in McKinney, Texas, presents a compelling investment opportunity. Built in 2024, this stabilized, multi-tenant property boasts 100% occupancy across four tenants, all under NNN leases with scheduled rent increases. The two-building complex features a modern design, situated on a 2.31-acre lot with ample concrete parking. Two end-cap suites offer convenient drive-thru access, enhancing tenant appeal. Located on Virginia Parkway near Hardin Boulevard, the center benefits from high daily traffic counts (51,912 vehicles) and excellent visibility. The property's strategic location within a thriving retail corridor, surrounded by affluent residential communities, ensures strong tenant performance and consistent cash flow. Average household incomes within a five-mile radius exceed $131,933, supporting a robust consumer base. The proximity to major employers, including Raytheon's new manufacturing center and Collin College, further strengthens the property's long-term prospects. This turnkey investment offers a 6.00% cap rate and a strong NOI of $670,711, making it an ideal addition to any portfolio. The property's six units are spread across two buildings, offering flexibility and potential for future growth. The leases are all new 10-year terms, providing long-term stability and predictable income. National tenants occupy 68% of the gross leasable area, further solidifying the investment's value. This is a rare opportunity to acquire a high-performing retail asset in one of Texas's fastest-growing markets.

Highlights

  • 17,958 SF retail shopping center in McKinney, TX, asking $11,187,500.
  • New 2024 construction, two buildings, 100% occupied with four tenants on NNN leases.
  • 6.00% cap rate, $670,711 NOI.
  • Strong tenant lineup, 68% national tenants, all on new 10-year leases with annual rent increases.
  • Excellent location on Virginia Pkwy, high traffic counts (51,912 VPD), near major retailers and Collin College.
  • Strong demographics: Average household income over $130,000 within 3 miles, population exceeding 235,742 within 5 miles.

Property Details for 3791 Virginia Pkwy

Property type
Lifestyle centers, Power centers
Square Feet
17,958 SF
Year Built
2024
Buildings
2
Lot Size (sq. ft)
100,624 SF
Units
6

Location Insight

City
McKinney
County
Collin
State
Texas
Latitude
33.196571420386
Longitude
-96.668555490464
3791 Virginia Pkwy, McKinney, Texas

FAQs

What type of property is this?
Lifestyle center - 100% Leased Retail Center, High Growth Area
Where is the lifestyle center located?
The property is located at 3791 Virginia Pkwy McKinney, TX.
What is the asking price?
The asking price for this property is $11,187,500.
What are key features of this property?
This property features: 17,958 SF retail shopping center in McKinney, TX, asking $11,187,500.; New 2024 construction, two buildings, 100% occupied with four tenants on NNN leases.; 6.00% cap rate, $670,711 NOI.
How can I contact the broker?
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3791 Virginia Pkwy
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