1220 Alma DrAllen, TX 75013

Property Details for 1220 Alma Dr

Year built

2004

Lot size

0.76 AC

Property size (Sq ft)

6,472 SF

Property type

Office properties

Property subtype

Office buildings

APN

R-8082-000-0010-1

APU

R808200000101

Description

This exceptional 7,222 square foot Class B office building, constructed in 2004, presents a unique owner-user or investment opportunity in the thriving city of Allen, Texas. Situated on a 0.76-acre lot at 1220 Alma Dr, 75013, this two-story building boasts beautiful finishes and excellent curb appeal, benefitting from its location on a major thoroughfare with over 20,000 vehicles passing daily. The property is directly adjacent to a CVS, ensuring high visibility and convenient access. The building offers 2,018 square feet of net rentable space, currently at 72.06% occupancy, with income generated from a substantial regional medical tenant. This presents a move-in ready opportunity for an owner-user, combining immediate occupancy with existing rental income. The asking price is $2,100,000. The property's diverse subtype classification as Executive Office, Medical Office, and Traditional Office makes it suitable for a wide range of uses. This is a rare opportunity to acquire a well-maintained, high-traffic commercial property in a rapidly growing area of Collin County.

• CAP approach

  CAP return

  Valuation

  6%

  $1,425,306

  6.5%

  $1,315,668

  7%

  $1,221,691

• Comparable approach

  Method

  Valuation

  Relative Method

  $946,605

  Geo Method

  $778,711

• Alternative Use

  Use

  Valuation

  Residential

  $1,631,428

  Hospitality

  $1,494,379

  Educational

  $1,243,306

  Medical

  $1,286,065

  Retail

  $1,934,031

Location Insight

City

Allen

County

Collin

State

Texas

Latitude

33.1168

Longitude

-96.6978

CBSA code

19100

CBSA name

DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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