Two-Story Flex Space with
For Sale
$399,900
120-2100 Double Creek Dr, Round Rock, TX 78664
Insulated, climate-controlled unit includes a finished bathroom and powered overhead door.
Property Size1,460 SF
Price / SF$273.90
Days on Market165
Property Features for 120-2100 Double Creek Dr
General Information
Standard status
Active
Size
1,460 SF
Warehouse & Industrial
Clear Height
21.3 ft
Mezzanine
335 SF
Conditioned Warehouse
Yes
Taxes and HOA fees
Annual Taxes
$6,515
Building Details
Stories
2
Listing Agency:
Compass RE Texas, LLC
(512) 639-0954
Listed By:
Reese Phillips · License #0628054
(512) 639-0954
Source:
Exprealty
Added: Mar 21
Changed: Aug 31
Last Checked: Aug 31 at 5:59PM
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 Compass RE Texas, LLC
Investment Insights
Based on property information with market context.
This two-story flex space contains approximately 1,460 SF, with 1,125 SF on the main level and a 335 SF mezzanine. The unit has two side windows, a sliding glass door, LED lighting, a large ceiling fan, and a 14’ x 14’ powered overhead garage door with window panels. Clear height reaches 21’4”. A finished bathroom with hot water, insulation, and individual heating and cooling add practical functionality. The Carrier HVAC system includes spiral ducting and a Honeywell Wi-Fi thermostat.
Located at 120-2100 Double Creek Dr in Round Rock, the property sits just off SH 45 Toll. Water access along the building supports vehicle or equipment washing. The layout is identified as suitable for business operations, storage, or personal warehouse use. A car lift is negotiable. HOA services include water, sewer, trash, grounds maintenance, and landscaping.
Located at 120-2100 Double Creek Dr in Round Rock, the property sits just off SH 45 Toll. Water access along the building supports vehicle or equipment washing. The layout is identified as suitable for business operations, storage, or personal warehouse use. A car lift is negotiable. HOA services include water, sewer, trash, grounds maintenance, and landscaping.
Key Highlights
- Approx. 1, 460 SF with 1, 125 SF main level and 335 SF mezzanine
- 14’ x 14’ powered overhead garage door with windows
- 21’4” clear height and insulated interior
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
$16,977
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
4.25%
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%
$339,540
$339.5K
Cap Rate 7%
$242,529
$242.5K
Cap Rate 9%
$188,633
$188.6K
Market Conditions
NOI Build-Up for 1,460 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
$21.0K $14.40/SF
− Vacancy
−$1.1K −$0.72/SF
EGI
$20.0K $13.68/SF
− OpEx
−$3.0K −$2.05/SF
NOI
$17.0K $11.63/SF
Area
Round Rock, TX
Vacancy
5.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
15.00%
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%
$339,540
Cap Rate 7%
$242,529
Cap Rate 9%
$188,633
Alternative Uses
Best Use
Warehouse
$242.5K
$212.2K – $283.0K
NOI $16,977 @ 7.0% cap · market cap 4.25%
Second Best
Flex RnD
$214.1K
$187.3K – $249.8K
NOI $14,987 @ 7.0% cap · market cap 3.75%
Theoretical Best
Office A
$462.5K
$404.7K – $539.6K
NOI $32,377 @ 7.0% cap · market cap 8.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
21 ft
Clear height
Location Intelligence
Trade Area within ½ mile
107
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78664, TX
60,287
Population
24,259
Households
2.5
Avg Household Size
34
Median Age
35%
College-Educated
90%
High-School Grad
16.6 sq mi
ZIP Area
3,632
Density / Sq Mi
$85,919
Median Household Income
$45,700
Median Earnings
$1,645
Median Rent
$317,400
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Insulated, climate-controlled unit includes a finished bathroom and powered overhead door.
Where is this flex space located?
The property is located at 120-2100 Double Creek Dr Round Rock, TX.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Approx. 1, 460 SF with 1, 125 SF main level and 335 SF mezzanine; 14’ x 14’ powered overhead garage door with windows; 21’4” clear height and insulated interior
