Listing Agency: Jorgenson Real Estate Show Phone

Listed By: Kasey Jorgenson · License #0607514 Show Phone

Source: Exprealty

Added: Apr 23 Changed: Oct 25 Last Checked: Nov 3 at 8:28AM

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Investment Insights

Based on property information with market context.

Condominium Unit 106 is a ground-floor commercial space within a mixed-use development that combines residential and commercial uses. The unit is approximately 723 square feet and is configured to support a variety of office, retail, or professional services setups.

Located at 2235 E 6th Street, the property sits along the East 6th corridor with surrounding urban density and walkability. The location also provides immediate proximity to Downtown Austin, making it suitable for an owner/user seeking a centrally located presence.

Key Highlights

• Ground‑floor commercial condo unit 106 in a mixed‑use development with residential and commercial uses
• 623 SF ground‑floor commercial space at 2235 E 6th Street
• Functional layout designed to support a variety of office, retail, or professional services configurations

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$14,728

Cap Rate

3.27%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$294,560 $294.6K

Cap Rate 7%

$210,400 $210.4K

Cap Rate 9%

$163,644 $163.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 723 SF

Gross rent

$25.9K $35.88/SF

− Vacancy

−$6.3K −$8.72/SF

EGI

$19.6K $27.16/SF

− OpEx

−$4.9K −$6.79/SF

NOI

$14.7K $20.37/SF

Area

Austin, TX

Vacancy

24.30%

Lease Rate

$35.88 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$294,560

Cap Rate 7%

$210,400

Cap Rate 9%

$163,644

Alternative Uses

Best Use

Office B

$210.4K

$184.1K – $245.5K (±1% cap)

NOI $14,728 @ 7.0% cap · market cap 3.27%

Second Best

Retail

$181.9K

$159.1K – $212.2K (±1% cap)

NOI $12,731 @ 7.0% cap · market cap 2.83%

Theoretical Best

Office A

$283.3K

$247.9K – $330.5K (±1% cap)

NOI $19,832 @ 7.0% cap · market cap 4.41%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Office Units

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Butcher Pet Grooming Service Mobile Phone Store Adult Day Care Fish Market

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

11,339

Businesses Nearby

Explore this area Business Placement

Demographics for 78701, TX

11,625

Population

8,021

Households

1.4

Avg Household Size

38

Median Age

81%

College-Educated

96%

High-School Grad

1.5 sq mi

ZIP Area

7,750

Density / Sq Mi

$154,867

Median Household Income

$106,932

Median Earnings

$2,732

Median Rent

$653,600

Median Home Value

Market

Vacancy Rate% for Office in Austin, TX

9.1% 2019

17.1% 2020

18.7% 2021

21.8% 2022

27.1% 2023

29.8% 2024

29% 2025

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Frequently Asked Questions

What type of property is this?

Office unit - Ground-floor commercial condo with a functional layout in a mixed-use development with both residential and commercial uses.

Where is this office unit located?

The property is located at 106-2235 E 6th St Austin, TX.

What is the asking price?

The asking price for this property is $450,000.

What are key features of this property?

This property features: Ground‑floor commercial condo unit 106 in a mixed‑use development with residential and commercial uses; 623 SF ground‑floor commercial space at 2235 E 6th Street; Functional layout designed to support a variety of office, retail, or professional services configurations