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5601-5605 Virginia Pky

11,116 SF 70% Leased Office Building McKinney, TX 75071 $4,000,000 ($360/SF) 7.25% Cap Rate

Executive Summary

7.25% CAP! REMAX Associates is pleased to present The Virginia Center, a 11,116 SF office building in McKinney, TX. The Virginia Center consists of a 2 building multi-tenant office space situated on approximately 1.15 acres. Built in 2000, the Property features wood framed construction and an ample parking ratio of 4.45 per 1,000 SF. The building is currently occupied by 4 tenants, providing an excellent opportunity to add value through leasing the additional 2 units. Front units 1 and 1A are currently vacant and advertised as for lease for $20 a sqft plus $8 NNN. Owner will master lease the 2 units for 6 months. The Property is ideally-located just east of Ridge Rd, with quick access to HWY 380, US 75, and numerous nearby amenities.

Property Facts

Sale Type
Investment NNN
Property Type
Office
Property Subtype
Medical
Building Size
11,116 SF
Building Class
B
Year Built
2000
Price
$4,000,000
Price Per SF
$360
Cap Rate
7.25%
NOI
$289,875
Percent Leased
70%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
11,116 SF
Building FAR
0.22
Land Acres
1.14 AC
Zoning
F3-C-McKinney
Parking
50 Spaces (4.5 Spaces per 1,000 SF Leased)

Amenities

  • 24 Hour Access
  • Security System
  • Central Heating
  • Reception
  • Wi-Fi
  • Monument Signage
  • Air Conditioning

Space Availability

  • Space
  • Size
  • Space Use
  • Condition
  • Available
  • 1st Fl-Ste 1
  • 1,686 SF
  • Office
  • -
  • Now

5601 Virginia Pkwy, suite 1 is a beautiful office in the heart of McKinney! Iron door entry with a beautiful wood accents and high ceiling waiting room. Reception office, kitchen, plenty of cabinetry, customer bathroom, and 4 patient areas. Rate: $17.00 SF-YR plus $8 Triple Net (NNN). 4.7 to 1,000 parking ratio, 21,000 vehicles per day on Virginia Parkway, one mile average household income of $142,000, and 164,000 residents within five miles. There is also an option to combining unit 1 with unit 1A, totaling 3286 sqft and 8-10 patient rooms. Building and Monument signage available with great view to Virginia Pkwy!

  • 1st Fl-Ste 1A
  • 1,600 SF
  • Office/Medical
  • -
  • Now

5601 Virginia Pkwy, suite 1A is a beautiful office in the heart of McKinney! Iron door entry with a beautiful wood accents, high ceiling waiting room, and 5 patient rooms. Rate: $17.00 SF-YR plus $8 Triple Net (NNN). 4.7 to 1,000 parking ratio, 21,000 vehicles per day on Virginia Parkway, one mile average household income of $142,000, and 164,000 residents within five miles. There is also an option to combining unit 1 with unit 1A, totaling 3286 sqft and 8-10 patient rooms . Building and Monument signage available with great views to Virginia Pkwy!

Space Size Space Use Condition Available
1st Fl-Ste 1 1,686 SF Office - Now
1st Fl-Ste 1A 1,600 SF Office/Medical - Now

1st Fl-Ste 1

Size
1,686 SF
Space Use
Office
Condition
-
Available
Now

1st Fl-Ste 1A

Size
1,600 SF
Space Use
Office/Medical
Condition
-
Available
Now

1st Fl-Ste 1

Size 1,686 SF
Space Use Office
Condition -
Available Now

5601 Virginia Pkwy, suite 1 is a beautiful office in the heart of McKinney! Iron door entry with a beautiful wood accents and high ceiling waiting room. Reception office, kitchen, plenty of cabinetry, customer bathroom, and 4 patient areas. Rate: $17.00 SF-YR plus $8 Triple Net (NNN). 4.7 to 1,000 parking ratio, 21,000 vehicles per day on Virginia Parkway, one mile average household income of $142,000, and 164,000 residents within five miles. There is also an option to combining unit 1 with unit 1A, totaling 3286 sqft and 8-10 patient rooms. Building and Monument signage available with great view to Virginia Pkwy!

1st Fl-Ste 1A

Size 1,600 SF
Space Use Office/Medical
Condition -
Available Now

5601 Virginia Pkwy, suite 1A is a beautiful office in the heart of McKinney! Iron door entry with a beautiful wood accents, high ceiling waiting room, and 5 patient rooms. Rate: $17.00 SF-YR plus $8 Triple Net (NNN). 4.7 to 1,000 parking ratio, 21,000 vehicles per day on Virginia Parkway, one mile average household income of $142,000, and 164,000 residents within five miles. There is also an option to combining unit 1 with unit 1A, totaling 3286 sqft and 8-10 patient rooms . Building and Monument signage available with great views to Virginia Pkwy!

  • Listing ID: 30337681

  • Date on Market: 12/11/2023

  • Last Updated:

  • Address: 5601-5605 Virginia Pky, McKinney, TX 75071

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