3250 Craig DrMcKinney, TX 75070

Property Details for 3250 Craig Dr

Year built

2005

Lot size

2.55 AC

Property size (Sq ft)

16,564 SF

Zone code

COMM/OFF

Property type

Office buildings

APN

R-2141-00D-2R2A-1

APU

R214100D2R2A1

Description

This exceptional investment opportunity features a 15,544-square-foot, single-tenant office building in McKinney, Texas. The property is fully occupied by the Social Security Administration (SSA) under a 15-year lease (commencing February 2, 2021, and expiring February 1, 2036), providing a remaining lease term of approximately 11.2 years. The SSA, a tenant with an S&P AA+ rating, occupies the entire building, ensuring secure cash flow and capital preservation backed by the U.S. Federal Government. Located at 3250 Craig Dr, McKinney, TX 75070, this Class B building sits on a 2.55-acre lot, offering convenient access to I-75 and the Sam Rayburn Tollway (SH 121). Built in 2006 as a build-to-suit for the SSA, the property boasts a one-story design and includes recent upgrades such as LED lighting and the replacement of all 12 HVAC units in 2021. The lease renewal included approximately $575,000 in tenant improvements and building systems alterations and commissioning (TI/BSAC) improvements. The property's design incorporates Level II designated security requirements specified by the SSA. The property generates a Net Operating Income (NOI) of $369,968. This investment benefits from the property's location in an income tax-free state and the potential for attractive financing options.

• CAP approach

  CAP return

  Valuation

  6%

  $3,647,833

  6.5%

  $3,367,230

  7%

  $3,126,714

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,422,676

  Geo Method

  $1,992,980

• Alternative Use

  Use

  Valuation

  Residential

  $4,175,366

  Hospitality

  $3,824,613

  Educational

  $3,182,033

  Medical

  $3,291,468

  Retail

  $4,949,829

Location Insight

City

Mckinney

County

Collin

State

Texas

Latitude

33.1677

Longitude

-96.6455

CBSA code

19100

CBSA name

DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

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.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].