Office Condominium With Private
For Sale
$375,000
10824 E Crystal Falls Pkwy 506, Leander, TX 78641
Modern office unit with an executive suite, breakroom, private restroom, and natural light from oversized windows.
Property Size991 SF
Price / SF$378.41
Days on Market78
Property Features for 10824 E Crystal Falls Pkwy 506
General Information
Standard status
Active
Size
991 SF
Additional Details
Road Access
Yes
Building Details
Year Built
2020
Tenancy
Multi
Listing Agency:
JBG Commercial
Listed By:
Michael Ashby · License #668161
(512) 502-7640
Source:
Brandyerocca
Added: Jul 10
Changed: Sep 24
Last Checked: Sep 24 at 10:48AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of JBG Commercial
Investment Insights
Based on property information with market context.
This 2020 office condominium is arranged for professional operations with three private offices and a separate executive suite suitable for leadership work or confidential meetings. The interior also includes a breakroom with sink and storage, an in-suite private restroom, and oversized exterior windows that bring natural light into the workspace.
The property is located across from Wiley Middle School and Rouse High School, with access from East Crystal Falls Parkway and Artesian Springs Boulevard through multiple concrete driveways. Nearby co-tenants include medical practices, dentists, banks, and pediatric clinics. The adjoining suite 505 may also be purchased, providing the option to own two separate units or combine the spaces for a larger operation.
The property is located across from Wiley Middle School and Rouse High School, with access from East Crystal Falls Parkway and Artesian Springs Boulevard through multiple concrete driveways. Nearby co-tenants include medical practices, dentists, banks, and pediatric clinics. The adjoining suite 505 may also be purchased, providing the option to own two separate units or combine the spaces for a larger operation.
Key Highlights
- Three private offices plus a separate executive suite
- 2020 office condominium with modern interior finishes
- Breakroom includes a sink and storage
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$23,631
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.30%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$472,620
$472.6K
Cap Rate 7%
$337,586
$337.6K
Cap Rate 9%
$262,567
$262.6K
Market Conditions
NOI Build-Up for 991 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$41.6K $42.00/SF
− Vacancy
−$10.1K −$10.21/SF
EGI
$31.5K $31.79/SF
− OpEx
−$7.9K −$7.95/SF
NOI
$23.6K $23.85/SF
Area
Williamson County, TX
Vacancy
24.30%
Lease Rate
$42.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$472,620
Cap Rate 7%
$337,586
Cap Rate 9%
$262,567
Alternative Uses
Best Use
Office B
$337.6K
$295.4K – $393.9K
NOI $23,631 @ 7.0% cap · market cap 6.30%
Second Best
Healthcare Medical
$256.9K
$224.8K – $299.7K
NOI $17,981 @ 7.0% cap · market cap 4.79%
Theoretical Best
Office A
$414.3K
$362.5K – $483.3K
NOI $28,998 @ 7.0% cap · market cap 7.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
251
Businesses Nearby
Explore this area
Business Placement
Demographics for 78641, TX
83,426
Population
33,118
Households
2.5
Avg Household Size
36
Median Age
51%
College-Educated
95%
High-School Grad
124.4 sq mi
ZIP Area
671
Density / Sq Mi
$131,421
Median Household Income
$61,185
Median Earnings
$1,873
Median Rent
$453,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office units - Modern office unit with an executive suite, breakroom, private restroom, and natural light from oversized windows.
Where is this office units located?
The property is located at 10824 E Crystal Falls Pkwy 506 Leander, TX.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Three private offices plus a separate executive suite; 2020 office condominium with modern interior finishes; Breakroom includes a sink and storage
