426 Metro Park DrMcKinney, TX 75071

Property Details for 426 Metro Park Dr

Year built

1994

Lot size

1.78 AC

Property size (Sq ft)

7,200 SF

Zone code

ML

Property type

Commercial real estate

APN

R-3074-001-0010-1

APU

R307400100101

Description

This exceptional investment opportunity presents a 7,200-square-foot industrial property located at 426 Metro Park Dr, McKinney, TX 75071. The property, built in 1994, sits on a 1.776-acre lot and is zoned for commercial use. Currently leased to Enterprise Rent-A-Car under a triple-net (NNN) lease, the tenant is credit-rated and the lease agreement, signed by EAN Holdings, LLC, has approximately 5.9 years remaining. The lease commenced October 31, 2020, and expires October 31, 2030, with four 5-year options to extend, each including a 7.5% rent increase. The asking price is $1,675,000, representing a 5.57% cap rate and a price per square foot of $232.64. The property features 12 parking spaces and benefits from its location in the thriving North Texas growth corridor. The tenant is responsible for all property expenses including CAM, taxes, and insurance, minimizing landlord responsibilities. This single-tenant, NNN ground lease offers a stable and attractive investment opportunity with significant long-term potential. The property is for sale by owner.

• CAP approach

  CAP return

  Valuation

  6%

  $1,797,050

  6.5%

  $1,658,810

  7%

  $1,540,330

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,053,080

  Geo Method

  $866,304

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $3,301,940

  Retail / Commercial

  $1,686,150

  Mixed-Use / Specialty

  $1,674,560

  Hospitality / Lodging

  $1,221,320

  Office

  $1,658,810

  Institutional / Educational

  $1,738,880

  Residential Income

  $2,034,490

  Multifamily

  $2,470,940

  Automotive / Energy

  $1,490,470

  Parking / Income-Based Land

  $519,847

  Restaurant / Food Service

  $859,065

  Healthcare / Senior Housing

  $1,722,950

Location Insight

City

Mckinney

County

Collin

State

Texas

Latitude

33.213

Longitude

-96.6082

CBSA code

19100

CBSA name

DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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