Address
5601 Virginia Parkway, McKinney, TX
Price
$ 4,100,000
Property Attributes
- MLS#20272378
- TypeCommercial
- CountyCOLLIN
- CityMcKinney
- NeighborhoodJoplin Acres
- Zip75071
- StyleOffice
- Year Built2000
- Taxes$ 42988
- Price$ 4,100,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Lot Size1.15 Acres
Data Source:
North Texas Real Estate Info Systems (NTREIS)
Property Description
100% LEASED AT CLOSING WITH MASTER LEASE IN PLACE!!! 7.1% 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.
| Price History | |
|---|---|
| 11/29/2023 | Listed $4,100,000 |
General Features
| Heating | Central,Electric |
|---|---|
| Cooling | Central Air,Electric |
| Utilities | City Sewer,City Water |
| Ceiling Height | 8 to10 Feet,11 to 14 Feet |
| Possession | Closing/Funding |
| Roof | Composition |
| Year Built | 2000 |
| Tenant Pays | All Utilities,Common Area Maintenance,Insurance,Taxes |
| Business Type | Medical,Professional Office |
| Unexempt Taxes | 42988 |
| Building Use | Medical,Office |
| Will Subdivide | No |
| Gross Annual Expenses | 67816.00 |
| Property SubType | Office |
| Subdivision Name | Joplin Acres |
| Zoning Description | Office / Medical |
| Occupant Type | Tenant |
| County | Collin |
| Property Type | Commercial Sale |
| Construction Materials | Brick,Stone Veneer |
| Year Built Details | Preowned |
| Number Of Leaseable Spaces | 6 |
| Number Of Spaces Leased | 4 |
| Status | Active |
| Directions | East on Virginia from Ridge. Property on the right. |
| City | McKinney |
| Buyer Agent Compensation | 3 |
| Street Name | Virginia |
| Virtual Tour URL Unbranded | https://www.propertypanorama.com/instaview/ntreis/20272378 |
| Standard Status | Active |
| Buyer Agent Compensation Type | % |
Interior Features
| Flooring | Carpet |
|---|---|
| Total Stories | 1 |
| Total Units | 6 |
| SQFT Gross | 11187 |
| Lock Box Type | Other |
| Street Suffix | Parkway |
Exterior Features
| Lot Size Source | Public Records |
|---|---|
| Parking Features | Parking Lot |
| Lot Size | 1 to < 3 Acres |
| Foundation | Slab |
| Lot Size Area | 1.1500 |
| Lot Size Units | Acres |
| Building Area Total | 11187.00 |
| Lot Size Square Feet | 50094.0000 |
| Lot Size Acres | 1.1500 |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Commercial Average in 75071
Price
Taxes
Visits
Year Built
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