Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3624 N Hills Dr, Unit D201 Austin, TX 78731

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,050,000

    Office space in the heart of Northwest Hills area.

    Lot size:
    0.19 Acres

    Property Features for 3624 N Hills Dr

    General Information

    Property type
    Commercial
    Standard status
    Active
    Lot size
    0.19 Acres

    Building Details

    Year built
    1982

    We can help!

    Listing Contact
    Mike Caputo
    Source: Elliman

    Listing Agent: Mike Caputo

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

    Learn more

    Overview

    Northwest Hills Office Space

    Located in the Northwest Hills area, this 3088-square-foot office space features 14 offices, a common greeting area, and a kitchen. Situated on the second floor, it overlooks an outdoor courtyard with a zero-scaped Spanish fountain and oak trees. The space is adaptable, allowing for various configurations to suit different office needs. Currently, 11 of the offices are rented, with leases that can be renewed or dissolved, while the others are vacant. Parking includes one covered assigned spot and common uncovered spaces. This property is suitable for investors or owner-users.
    Location Intelligence

    Current Use by Public Records

    Austin Biofeedback & EEG ... Physician Andrews Law Firm Law Firm Jason Alexander Black Dental Office Far West Dental Dental Office Jason A Black DDS Dental Office

    Suggested Use

    Restaurant Law Firm Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Austin
    County
    Hays
    State
    Texas
    Longitude
    -97.7571793
    Latitude
    30.352744

    Nearby Similar for Sale

    • New
      $380,000
      0.25 Acres

      Land For Sale, Austin, TX

      Land available for sale in Austin, Texas.
      5606-1/2 Joe Sayers Ave, Austin, TX 78756
      View Details
    • $179,000
      379 SF

      Mixed-Use Commercial Condo in Austin

      All-inclusive commercial condo with utilities, amenities, and lake views.
      4229 222, Austin, TX 78732
      View Details
    • $135,000
      306 SF

      Austin Mixed-Use Commercial Condo

      Mixed-use commercial condo in West Austin with inclusive HOA.
      4229 324, Austin, TX 78732
      View Details
    • $24,995,000
      33.13 Acres

      Lake Austin Waterfront Ranchette

      33+/- acre waterfront property on Lake Austin with development potential.
      Undisclosed, Austin, TX 78732
      View Details
    • Contact for pricing
      5,034 SF

      9811 Austin Tx 78744 BLDG 1

      9811 S. IH35, Building #1, Austin, TX 78744
      9811 Austin Tx 78744 BLDG 1, Austin, TX 78744
      View Details
    • $2,400,000

      Freestanding Auto Parts Retail Space

      Single tenant retail space in a high-traffic Austin location.
      3110 S Lamar Blvd, Austin, TX 78704
      View Details
    • $2,400,000

      Freestanding Dollar Tree in Austin

      Single tenant Dollar Tree near downtown Austin and airport.
      1508 Montopolis Dr, Austin, TX 78741
      View Details
    • $999,000

      Prime Retail Building on Parmer

      Freestanding retail building with high visibility and ample parking.
      2303 W Parmer Ln, Austin, TX 78727
      View Details
    • $599,999
      Pending

      Premium Office Condo For Sale

      1,075 sq. ft. office condo with four private offices.
      2525 S Lamar Blvd, Austin, TX 78704
      View Details
    • $550,000

      Renovated Office Space Available

      Updated office space with flexible layout and convenient location.
      12343 Hymeadow Dr, Austin, TX 78750
      View Details
    • $689,000

      East Austin Live/Work Storefront

      Two-level loft in vibrant East Austin with business potential.
      1601 E Cesar Chavez St, Austin, TX 78702
      View Details
    • $900,000

      Medical Condo Near St. David's

      Medical condo near St. David's Hospital, available September 2025.
      4207 James Casey St, Austin, TX 78745
      View Details

    FAQs

    What type of property is this?
    Office units - Office space in the heart of Northwest Hills area.
    Where is this office units located?
    The property is located at 3624 N Hills Dr, Unit D201 Austin, TX.
    What is the asking price?
    The asking price for this property is $1,050,000.
    What are key features of this property?
    This property features: - Prime location in the highly coveted Northwest Hills area, just 5 minutes from Downtown Austin.; - Generous 3088 sqft office space with 14 offices, a common greeting area, and a kitchen.; - Malleable space with movable walls allowing for customizable configurations.
    (512) 250-0253
    Request Owner's contact information
    3624 N Hills Dr, Unit D201 Austin, TX 78731
    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.
    3624 N Hills Dr, Unit D201
    Austin, TX 78731
    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
    3624 N Hills Dr, Unit D201 Austin, TX 78731
    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
    Mike Caputo
    (512) 250-0253 (512) 825-1667
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!