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    500 East Ben White Blvd Austin, TX 78704

    Sponsored
    For Sale
    $20,000,000

    Prime Austin location, high-traffic, strong tenant mix.

    Property size:
    49,211 SF

    Description

    Added:
    Jan 29, 2025
    Days on Market:
    352
    The Abby at Ben White, located at 500 East Ben White Blvd, Austin, TX 78704, presents a compelling investment opportunity. This 49,211 square foot retail center sits on a rare 5.9-acre parcel, offering significant future redevelopment potential. Currently 100% occupied with a strong tenant mix including national brands like GameStop, Subway, and T-Mobile, as well as a high-performing Cabo Bob's. The property benefits from its shadow-anchored position next to Austin's top-performing Walmart, ensuring high visibility and traffic. The surrounding area boasts phenomenal demographics, with a 347,708 population within a 5-mile radius, a projected 64% annual population growth rate within 1 mile between 2023-2028, and a median household income of $113,620 within 5 miles. Its strategic location off S. Congress Avenue, near Highways 290 and I-35, provides exceptional accessibility with high daily traffic counts. Proximity to St. Edward's University (2,769 students) and William B. Travis High School (1,249+ students) further enhances its appeal. The property is also conveniently located just 7 miles from Austin-Bergstrom International Airport. The asking price is $20,000,000, representing a compelling value considering the land size and location, especially given the city's updated parking code. This property offers a unique blend of immediate income generation and long-term redevelopment potential in a rapidly growing Austin market.

    Property Features for 500 East Ben White Blvd

    General Information

    Property type
    Other retail properties
    Square Feet
    49,211 SF
    Price / Square Foot
    $406
    Elevators
    N/A
    Lot Size
    257,004 SF
    Net Operating Income
    $1,218,672

    Building Details

    Year Built
    2006
    Buildings
    1
    Stories
    2

    HighLights

    • Shadow‑anchored by Austin's top‑performing Walmart, boasting high traffic counts and proximity to downtown.
    • 5.9‑acre parcel offers redevelopment potential near downtown Austin, currently generating strong cash flow.
    • Prime location near major highways (290 & I‑35), S. Congress Ave, and Austin‑Bergstrom International Airport.
    Location Intelligence

    Current Use by Public Records

    La Crawfish Seafood Restaurant Alvarez Cedric DDS Dentist OMNILIFE CEDIS AUSTIN Vitamin & Supplements Store Austea Bubble Tea Store Austin Habitat For Humanity ... Food Bank

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Hair Salon Auto Repair Shop Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Austin
    State
    Texas
    Longitude
    -95.752224
    Latitude
    29.780183

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    FAQs

    What type of property is this?
    Other retail property - Prime Austin location, high-traffic, strong tenant mix.
    Where is this other retail property located?
    The property is located at 500 East Ben White Blvd Austin, TX.
    What is the asking price?
    The asking price for this property is $20,000,000.
    What are key features of this property?
    This property features: Shadow-anchored by Austin's top-performing Walmart, boasting high traffic counts and proximity to downtown.; 5.9-acre parcel offers redevelopment potential near downtown Austin, currently generating strong cash flow.; Prime location near major highways (290 & I-35), S. Congress Ave, and Austin-Bergstrom International Airport.
    (619) 546-0121
    Request Owner's contact information
    500 East Ben White Blvd Austin, TX 78704
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    Austin, TX 78704
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    500 East Ben White Blvd Austin, TX 78704
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