Restaurant Ready Retail
For Sale
Contact for pricing
10824 E Crystal Falls Pkwy, Leander, TX 78646
Retail space ready for restaurant use with grease trap installed.
Property Size1,243 SF
Price / SF$401.45
Days on Market93
Property Features for 10824 E Crystal Falls Pkwy
General Information
Standard status
Active
Size
1,243 SF
Property subtype
Retail
Listing Agency:
McAllister & Associates
Listed By:
Austin Cotton · License #TX
Source:
Crexi
Added: May 22
Changed: Aug 8
Last Checked: May 27 at 8:16AM
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 McAllister & Associates
Investment Insights
Based on property information with market context.
Located east of US Hwy 183-A toll road on East Crystal Falls Parkway (CR 272) and approximately 1 mile west of Ronald Reagan Blvd. in Leander, Williamson County, Texas, Crystal Falls Arbor is a six-building commercial condominium complex situated across from Leander ISD’s Wiley Middle School and Rouse High School. The complex is located at the Artesian Springs Drive intersection, which serves as the entrance to the Crystal Springs residential subdivision. East Crystal Falls Parkway has been recently widened and updated with laydown curb-cuts and sidewalks. Crystal Village, a 60-acre retail development at Hwy 183A frontage road and Crystal Falls Parkway, will include future users such as Quik Trip, Southside BBQ, Texas Roadhouse, Culvers, and Estancia restaurant, with future phases planned for office and hotel space. Access is available via a median cut on Crystal Falls Parkway aligning with a curb-cut, along with a second access on Artesian Springs Drive. Signage options include a panel on either side of a shared monument sign. Permitted uses include office, medical office, retail, and restaurant. Current tenants include a bank, dentist, insurance agent, orthodontist, law office, real estate agent, restaurant, and veterinarian. Unit 601 in building 6 offers approximately 1,243 square feet of improvements in cold dark shell condition, featuring large windows on two sides and a large outdoor patio space. The unit is ready for restaurant use with a grease trap installed.
Key Highlights
- Great Location on Major Hwy
- Rustic and Ready
- Various types of businesses will fit
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
$21,887
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
4.39%
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%
$437,740
$437.7K
Cap Rate 7%
$312,671
$312.7K
Cap Rate 9%
$243,189
$243.2K
Market Conditions
NOI Build-Up for 1,243 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
$32.4K $26.04/SF
− Vacancy
−$1.1K −$0.89/SF
EGI
$31.3K $25.15/SF
− OpEx
−$9.4K −$7.55/SF
NOI
$21.9K $17.61/SF
Area
Travis County, TX
Vacancy
3.40%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
30.00%
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%
$437,740
Cap Rate 7%
$312,671
Cap Rate 9%
$243,189
Alternative Uses
Best Use
Retail
$312.7K
$273.6K – $364.8K
NOI $21,887 @ 7.0% cap · market cap 4.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$519.6K
$454.7K – $606.2K
NOI $36,372 @ 7.0% cap · market cap 7.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
251
Businesses Nearby
65k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 68%
Dining 32%
QuikTrip
Shops & Services
21,105 visits/mo
0.3 miles
Circle K
Shops & Services
11,413 visits/mo
0.4 miles
Popeyes Louisiana Kitchen
Dining
10,847 visits/mo
0.3 miles
Valero Energy
Shops & Services
10,479 visits/mo
0.3 miles
Wendy's
Dining
9,560 visits/mo
0.3 miles
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail space ready for restaurant use with grease trap installed.
Where is this retail space located?
The property is located at 10824 E Crystal Falls Pkwy Leander, TX.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Great Location on Major Hwy; Rustic and Ready; Various types of businesses will fit
