The subject property is an 8,497-square-foot, Class B medical office building situated in the rapidly growing community of McKinney, Texas. Designed to accommodate professional medical or office tenants, the building offers excellent frontage and visibility along Virginia Parkway. The center is 100 percent leased to ACES Autism Therapy Center (61 percent of the GLA) and Lockhart Matter Dermatology (39 percent of the GLA). Both tenants are on new five-year, triple-net lease terms featuring annual rent increases.
The subject property is located in a dense commercial and medical corridor along Virginia Parkway, a major east-west arterial route in McKinney, Texas, a highly affluent city within the Dallas-Fort Worth metroplex. The center is easily accessible from major roads and highways, with a strong daily traffic count of over 25,000 vehicles directly passing the site. The property benefits from its proximity to the Medical Center Drive corridor, a significant demand generator located just 0.71 miles away, which houses major healthcare facilities including Medical City McKinney, Occumed Plus, and LabCorp. The property is surrounded by rapidly expanding residential and retail developments, and sits just 1.15 miles west of the North Central Expressway (US-75). The area is poised for explosive growth with the approved $1.3 billion Long Branch mixed-use development, positioned at the northwest corner of U.S. Highway 75 and the future U.S. 380 bypass, with planned delivery of 1,600 multifamily homes, retail, and a massive office campus upon completion.
100% LEASED MEDICAL OFFICE WITH NEW 5-YEAR, NNN LEASES
The 8,497 SF property is fully leased to two tenants on new five-year, triple-net terms, ensuring minimal landlord responsibilities and stable occupancy.
STRONG CONTRACTUAL RENT GROWTH
Both leases feature scheduled annual rent increases, supporting steady income growth.
BELOW-MARKET RENTS WITH UPSIDE
Current average rents are below prevailing market levels, presenting a clear opportunity to increase income through mark-to-market upon rollover.
APPROXIMATELY $400K IN TENANT IMPROVEMENTS
Landlord reports around $400,000 in recent suite renovations, including significant investments from both tenants for their spaces.
STRATEGIC CORRIDOR LOCATION WITH STRONG ACCESS
Situated along Virginia Parkway, a major east-west arterial providing connectivity across McKinney with strong daily traffic counts and visibility. Convenient access to U.S. 75 and Sam Rayburn Tollway, providing connectivity throughout the Dallas-Fort Worth Metroplex.
AFFLUENT DEMOGRAPHICS WITH HIGH-INCOME POPULATION BASE
The area features a $140,763 average household income within a one-mile radius and $150,763 within a five-mile radius, supported by a dense residential base and strong daytime employment population.
PROXIMITY TO MAJOR EMPLOYMENT & RETAIL HUBS
Surrounded by continued commercial development, retail centers, and employment nodes driving daytime population and patient traffic.
