For Sale
$4,000,000

5881 Virginia Pkwy McKinney, TX 75071

14,111 SF, 100% Occupied, Value-Add

Overview

Added:
Dec 11, 2024
Days on market:
128
This exceptional investment opportunity presents a 14,111-square-foot, single-story medical office building located at 5881 Virginia Parkway in McKinney, Texas, 75071. Built in 2006, the property sits on a 3-acre lot and boasts 100% occupancy with a diverse mix of medical and professional tenants, serving both local and regional markets. The building currently generates strong cash flow, with significant potential for value appreciation. A key feature is a 53,000-square-foot developable pad, offering substantial future development potential. The property benefits from its strategic location on Virginia Parkway, providing easy access to major thoroughfares including Ridge Road and Highway 75, ensuring excellent connectivity within the broader Dallas-Fort Worth Metroplex. The surrounding area demonstrates robust demographics, with a median home value of $372,333 and a median household income of $137,830 within a 2-mile radius, indicating a prosperous and growing community. The current average rent is 26% below market, presenting a clear opportunity for value-add through rental rate increases. This fully occupied, stabilized investment offers a secure return with significant upside potential through both rental growth and land development. The property is zoned F1 - Office Commercial - Real, allowing for a variety of future uses. This is a rare opportunity to acquire a high-performing asset in a prime location.

Highlights

  • Fully occupied medical office building offering a secure investment opportunity with 68% of GLA dedicated to medical tenants.
  • 53,000 SF developable pad provides significant value creation potential.
  • Average rent is 26% below market, presenting a value-add opportunity.
  • Strong local demographics: $372,333 median home value and $137,830 median household income within a 2-mile radius.
  • Excellent accessibility via Virginia Parkway, Ridge Road, and Highway 75, providing easy connectivity to the DFW Metroplex.

Property Details for 5881 Virginia Pkwy

Property type
Retail properties
Square Feet
14,111 SF
Year Built
2006
Buildings
1
Lot Size (sq. ft)
130,680 SF

Location Insight

City
McKinney
County
Collin
State
Texas
Latitude
33.1978091
Longitude
-96.6961015
5881 Virginia Pkwy, McKinney, Texas

FAQs

What type of property is this?
Retail property - 14,111 SF, 100% Occupied, Value-Add
Where is the retail property located?
The property is located at 5881 Virginia Pkwy McKinney, TX.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: Fully occupied medical office building offering a secure investment opportunity with 68% of GLA dedicated to medical tenants.; 53,000 SF developable pad provides significant value creation potential.; Average rent is 26% below market, presenting a value-add opportunity.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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5881 Virginia Pkwy
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