1905 Preston RdPlano, TX 75093

Property Details for 1905 Preston Rd

Year built

2016

Lot size

1.24 AC

Property size (Sq ft)

8,449 SF

Property type

Office properties

Property subtype

Office buildings

APN

R-2969-001-009R-1

APU

R2969001009R1

Description

This exceptional 8,405-square-foot freestanding medical office building, situated on a 1.24-acre lot in Plano, Texas, presents a unique investment opportunity. Built in 2016, the single-story building boasts 110 parking spaces and enjoys a prime location on Preston Road, a high-traffic thoroughfare with over 62,000 vehicles per day. Its Light Commercial zoning allows for over 60 permitted uses, offering significant flexibility for future tenants. The property benefits from excellent visibility and accessibility, with proximity to major roadways including President George Bush Highway and the Dallas North Tollway. Located within the Preston Rd and George Bush Turnpike submarket cluster, this property is strategically positioned near significant economic drivers, including the Legacy Hall/JPMorgan & Chase campus. The surrounding area demonstrates strong demographics, featuring an average household income exceeding $121,000 within a one-mile radius and a population of nearly 466,000 within a five-mile radius. The entire building is currently vacant, offering immediate occupancy for a new tenant. The asking lease rate is $55 per square foot, NNN. This property represents a compelling opportunity to acquire a state-of-the-art facility in a thriving market. The address is 1905 Preston Rd, Plano, TX 75093.

• CAP approach

  CAP return

  Valuation

  6%

  $1,860,694

  6.5%

  $1,717,564

  7%

  $1,594,881

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,235,764

  Geo Method

  $1,016,584

• Alternative Use

  Use

  Valuation

  Residential

  $2,129,780

  Hospitality

  $1,950,866

  Educational

  $1,623,098

  Medical

  $1,678,919

  Retail

  $2,524,819

Location Insight

City

Plano

County

Collin

State

Texas

Latitude

33.0254

Longitude

-96.796

CBSA code

19100

CBSA name

DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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