5881 Virginia PkwyMcKinney, TX 75071

Property Details for 5881 Virginia Pkwy

Year built

2006

Lot size

3.00 AC

Property size (Sq ft)

13,805 SF

Zone code

SFR

Property type

Office buildings

APN

R-8247-00A-0030-1

APU

R824700A00301

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $3,040,228

  6.5%

  $2,806,364

  7%

  $2,605,910

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,019,141

  Geo Method

  $1,661,018

• Alternative Use

  Use

  Valuation

  Residential

  $3,479,892

  Hospitality

  $3,187,562

  Educational

  $2,652,014

  Medical

  $2,743,221

  Retail

  $4,125,356

Location Insight

City

Mckinney

County

Collin

State

Texas

Latitude

33.1978

Longitude

-96.6959

CBSA code

19100

CBSA name

DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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