Leander Corner Property For
For Sale
Contact for pricing
201 203 205 207 S Hwy 183, Leander, TX 78641
Commercial and mixed-use property with highway frontage in high-growth area.
Property Size5,242 SF
Lot Size1.21 Acres
Price / SF$314.77
Days on Market502
Property Features for 201 203 205 207 S Hwy 183
General Information
Standard status
Active
Size
5,242 SF
Class
C
Lot size
1.21 Acres
Property subtype
Land, Mixed Use, Office, Retail
Zoning
Commercial, Multi Use
Investment Type
Redevelopment
Building Details
Year Built
1950
Buildings
2
Stories
1
Listing Agency:
Stanberry Commercial
Listed By:
Richard Ryon · License #TX 363400
Source:
Crexi
Added: Apr 7, 2025
Changed: Aug 8
Last Checked: Jul 22 at 9:50AM
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 Stanberry Commercial
Investment Insights
Based on property information with market context.
This property is located on a hard corner in the high-growth corridor of the Austin Metro area. Improvements include a 4,000-square-foot commercial building, a 1,210-square-foot house, and storage sheds. The property benefits from visibility and access, with 296 feet of frontage on US Highway 183 and 120 feet of frontage on Atkins Road, as well as alley access. Traffic counts reach 25,000 vehicles per day (TXDOT). Zoned for commercial and mixed-use, the property is located in the Old Town Leander overlay, which provides some usage requirement flexibility and extra city infrastructure improvements in the area.
Key Highlights
- High‑visibility hard corner location in Austin Metro's high‑growth corridor.
- Boasts 296 feet of frontage on US Hwy 183 and 120 feet on Atkins Road.
- Zoned for Commercial and Mixed Use.
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
$124,998
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
7.58%
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%
$2,499,960
$2.5M
Cap Rate 7%
$1,785,686
$1.8M
Cap Rate 9%
$1,388,867
$1.4M
Market Conditions
NOI Build-Up for 5,242 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
$220.2K $42.00/SF
− Vacancy
−$53.5K −$10.21/SF
EGI
$166.7K $31.79/SF
− OpEx
−$41.7K −$7.95/SF
NOI
$125.0K $23.85/SF
Area
Travis County, TX
Vacancy
24.30%
Lease Rate
$42.00 /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%
$2,499,960
Cap Rate 7%
$1,785,686
Cap Rate 9%
$1,388,867
Alternative Uses
Best Use
Office B
$1.79M
$1.56M – $2.08M
NOI $124,998 @ 7.0% cap · market cap 7.58%
Second Best
Retail
$1.32M
$1.15M – $1.54M
NOI $92,302 @ 7.0% cap · market cap 5.59%
Theoretical Best
Office A
$2.19M
$1.92M – $2.56M
NOI $153,390 @ 7.0% cap · market cap 9.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
475
Businesses Nearby
Explore this area
Business Placement
Demographics for 78641, TX
83,426
Population
33,118
Households
2.5
Avg Household Size
36
Median Age
51%
College-Educated
95%
High-School Grad
124.4 sq mi
ZIP Area
671
Density / Sq Mi
$131,421
Median Household Income
$61,185
Median Earnings
$1,873
Median Rent
$453,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - Commercial and mixed-use property with highway frontage in high-growth area.
Where is this commercial land located?
The property is located at 201 203 205 207 S Hwy 183 Leander, TX.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: High‑visibility hard corner location in Austin Metro's high‑growth corridor.; Boasts 296 feet of frontage on US Hwy 183 and 120 feet on Atkins Road.; Zoned for Commercial and Mixed Use.
