Second-Floor Office
New
For Sale
$499,000
11824 Jollyville Rd 103, Austin, TX 78759
Professional suite with private offices, meeting space, reception, break area, and dedicated restrooms near major Austin corridors.
Property Size1,651 SF
Price / SF$302.24
Days on Market3
Property Features for 11824 Jollyville Rd 103
General Information
Standard status
Active
Size
1,651 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Additional Details
Floor
2
Office Units
1
Building Details
Building Size
1,651 SF
Year Built
1985
Stories
2
Listing Agency:
Horizon Realty
Listed By:
Angie Jones
(512) 619-7181
Source:
Elliman
Added: Sep 11
Last Checked: Sep 13 at 8:55AM
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 Horizon Realty
Investment Insights
Based on property information with market context.
This 1,651-square-foot office condo occupies the second floor of Building 1 within a two-story office property. The suite is arranged for professional operations, with four private offices, a conference room, reception area, break room, and two private in-suite restrooms. Nearby stairs provide convenient access to the space. Constructed in 1985, the property has direct frontage along Jollyville Road.
The office is positioned in Northwest Austin’s Great Hills area, close to the Arboretum and The Domain. Access to Jollyville Road, U.S. 183, and Mopac Expressway connects the property with surrounding retail, commercial, and employment areas. WalkScore, BikeScore, and TransitScore are 44, 49, and 28, respectively.
The office is positioned in Northwest Austin’s Great Hills area, close to the Arboretum and The Domain. Access to Jollyville Road, U.S. 183, and Mopac Expressway connects the property with surrounding retail, commercial, and employment areas. WalkScore, BikeScore, and TransitScore are 44, 49, and 28, respectively.
Key Highlights
- 1,651 SF second‑floor office condo in Building 1
- Four large private offices plus a conference room
- Reception area, break room, and two private in‑suite restrooms
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
$33,632
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
6.74%
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%
$672,640
$672.6K
Cap Rate 7%
$480,457
$480.5K
Cap Rate 9%
$373,689
$373.7K
Market Conditions
NOI Build-Up for 1,651 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
$59.2K $35.88/SF
− Vacancy
−$14.4K −$8.72/SF
EGI
$44.8K $27.16/SF
− OpEx
−$11.2K −$6.79/SF
NOI
$33.6K $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 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%
$672,640
Cap Rate 7%
$480,457
Cap Rate 9%
$373,689
Alternative Uses
Best Use
Office B
$480.5K
$420.4K – $560.5K
NOI $33,632 @ 7.0% cap · market cap 6.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$647.0K
$566.1K – $754.8K
NOI $45,288 @ 7.0% cap · market cap 9.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Office units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,022
Businesses Nearby
Explore this area
Business Placement
Demographics for 78759, TX
42,333
Population
23,843
Households
1.8
Avg Household Size
38
Median Age
69%
College-Educated
97%
High-School Grad
14.3 sq mi
ZIP Area
2,960
Density / Sq Mi
$102,799
Median Household Income
$67,807
Median Earnings
$1,680
Median Rent
$634,400
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 Austin, TX
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Frequently Asked Questions
What type of property is this?
Office units - Professional suite with private offices, meeting space, reception, break area, and dedicated restrooms near major Austin corridors.
Where is this office units located?
The property is located at 11824 Jollyville Rd 103 Austin, 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: 1,651 SF second‑floor office condo in Building 1; Four large private offices plus a conference room; Reception area, break room, and two private in‑suite restrooms
