Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    5997 Dillard Cir Austin, TX 78752

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    2.4235-acre land site ideal for multifamily, mixed-use, or office developments.

    Lot size:
    2.42 Acres

    Property Features for 5997 Dillard Cir

    General Information

    Lot size
    2.42 Acres

    We can help!

    Listing Contact
    Jay Lamy
    Jay Lamy
    Source: Moodyscre

    Listing Agent: Jay Lamy

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Land in Highland Redevelopment Area

    Available for ground lease, this 2.4235-acre land site is located just off Airport Boulevard near the Highland Redevelopment in Central Austin. The site neighbors The Brewtorium and the recently completed ACC Highland campus and is a short drive to The Triangle, Mueller, and downtown Austin. The site is ideal for multifamily, mixed-use, or office developments. The Highland Redevelopment area is growing rapidly and offers convenient access to IH-35 and Hwy 290.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Realty agency Law Firm Spa & Massage Dental Office Restaurant Hair Salon Nail Salon Clothing Store Building Supply Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Austin
    County
    Hays
    State
    Texas
    Longitude
    -97.716827
    Latitude
    30.325892

    Nearby Similar for Lease

    • $5,000 /Mo
      7,318 SF

      Renovated Commercial Space with Yard

      Adaptable 2,342 SF commercial space with outdoor area in Austin.
      2008 E 12Th St, Austin, TX 78702
      View Details
    • $4,353 /Mo
      33,795 SF

      Furnished Clinic Space Available

      Ready-to-go clinic space in Anderson Mill Medical Center.
      12411 Hymeadow Dr, Austin, TX 78750
      View Details
    • Contact for pricing
      43,273 SF

      Upscale Office Space in Austin

      Refined office space with modern amenities in vibrant Clarksville.
      506 Walsh St, Austin, TX 78703
      View Details
    • Contact for pricing
      38,400 SF

      Adaptable Warehouse Space in Austin

      38,400 SF warehouse space suitable for various operations.
      8115 Altoga Dr, Austin, TX 78724
      View Details
    • $2,200 /Mo
      879 SF

      Downtown Condo with Flexible Space

      Spacious 1 bed, 1 bath condo in vibrant downtown Austin.
      603 Davis St, Austin, TX 78701
      View Details
    • Contact for pricing
      40,675 SF

      Office Warehouse Space Available

      40,675 square foot office warehouse available for lease.
      6106 Baldwin Dr, Austin, TX 78724
      View Details
    • $2,000 /Mo

      Updated Condo in North Austin

      Stylish, updated condo with modern finishes and convenient location.
      11404 Walnut Ridge Dr, Austin, TX 78753
      View Details
    • $2,675 /Mo
      1,595 SF

      Modern Condo in Hypoint Community

      Contemporary 3-bedroom condo in East Austin, built in 2020.
      6020 Springdale Rd, Austin, TX 78723
      View Details
    • $3,900 /Mo

      Austin Home Near Mueller Center

      Three-bedroom home with modern amenities near Mueller's vibrant town center.
      2204 Robert Browning St, Austin, TX 78723
      View Details
    • $5,100 /Mo
      978 SF

      Luxury Apartment with Skyline Views

      Never-occupied two-bedroom apartment in The Modern Austin Residences.
      610 Davis St, Austin, TX 78701
      View Details
    • $1,400 /Mo
      722 SF

      Modern Residence in South Austin

      Contemporary living with community pool, near South Congress hotspots.
      3018 S 1St St, Austin, TX 78704
      View Details
    • $43 SF/Yr
      633 SF

      Class A Office Space Available

      Prime office space with fitness center and convenient location.
      1717 W 6Th St, Austin, TX 78703
      View Details

    FAQs

    What type of property is this?
    Land - 2.4235-acre land site ideal for multifamily, mixed-use, or office developments.
    Where is this land located?
    The property is located at 5997 Dillard Cir Austin, TX.
    What are key features of this property?
    This property features: - Located in the rapidly growing Highland Redevelopment area.; - 2.4235-acre land site available for ground lease.; - Ideal for multifamily, mixed-use, or office developments.
    (512) 423-0468
    Request Owner's contact information
    5997 Dillard Cir Austin, TX 78752
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    5997 Dillard Cir
    Austin, TX 78752
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    5997 Dillard Cir Austin, TX 78752
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Jay Lamy
    Jay Lamy
    (512) 423-0468
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.