1.5+/- Acre Commercial Development Site McKinney, TX
Land | 1.5 acres
Marketing description
Vanguard Real Estate Advisors (“VREA”) has been exclusively retained by Ownership to offer the opportunity to purchase a 1.5+/- acre commercial development site out of a larger 2.5+/- acre Site located at 10021 Virginia Parkway in McKinney, TX (the “Site”). The Site is currently zoned C-2 (Local Commercial District) creating the opportunity for a variety of commercial uses for a potential purchaser. Its prime location at the hard corner of Virginia Parkway and Independence Parkway offers excellent visibility and easy access, making it a highly desirable development Site. The Dallas North Tollway is located approximately 4 miles west of the Site, US 75 is approximately 6.5 miles to the East, and US 380 is less than a mile to the North. The Site is located at a busy intersection with no existing retail. The locations demographics are extremely strong, with a one-mile median household income of $189,000 and a one-mile median home value of $658,333. This is an excellent opportunity to acquire a hard corner in one of the fastest growing markets in Texas at a price of $35 psf. Note that 1+/- acre of the larger 2.5+/- acre Site is currently under contract thus leaving the remaining 1.5+/- acres for sale.
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Due Diligence Vault - 2.5+/- Acres McKinney
A 2% co-broker fee is available to a Broker that sources a Principal that VREA has not previously contacted in any format or sent information to regarding this opportunity; a third party broker must register their client upon initial contact with VREA.
Investment highlights
Strategic Location
The 1.5+/- acre Site is strategically located approximately 4 miles east of the Dallas North Tollway in McKinney, near the border of Frisco. The Site has frontage along Virginia Parkway and Independence Parkway, two major roads located in west McKinney.
The Site is located between several single-family developments, with a one-mile median household income of $189,000, providing an ample market for retail or commercial development.
The Property is situated at the southwest hard corner of Virginia Parkway and Independence Parkway allowing for unparalleled visibility and access.
Zoning
The Site is zoned C2, which allows for mid-sized, medium intensity commercial, retail, office, service oriented, and professional uses, and accompanying accessory uses.
The zoning allows for a maximum height of 3 stories and 45 feet.
Purchaser to do their own due diligence related to the zoning and potential uses.
Population and Demographics
Per the City of McKinney, the population is estimated to be 224,043, an increase of more than 10% since 2021.
McKinney boasts a median household income of $120,273, a strong economic base to support future growths.
Market rent in the McKinney retail submarket per CoStar has grown by 4.3% within the last year and is expected to continue to grow.
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