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    829 State Highway 21 Cedar Creek, TX 78612

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    For Sale
    $650,000

    Two-acre property with residential and commercial zoning near Austin.

    Type:Commercial
    Property size:
    2,492 SF
    Lot size:
    2.00 Acres
    Added:
    Apr 24, 2026
    Days on Market:
    5
    Last Refresh:
    Apr 24 at 6:05 pm

    Property Features for 829 State Highway 21

    General Information

    Standard status
    Active
    Size
    2,492 SF
    Lot size
    2.00 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    2000

    We can help!

    Listing Contact
    Elizabeth Schmidtberger

    Listing agent Elizabeth Schmidtberger License #0690215

    Listing office TS Realty

    Listing date Apr 24, 2026

    Source Elliman

    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 TS Realty

    Overview

    Versatile Property with Income Potential

    This two-acre property in Cedar Creek, Texas, offers a blend of residential and commercial opportunities. Located off HWY 21, the property benefits from high traffic and visibility. The site includes a 5-bedroom home with an open kitchen and 2.5 bathrooms. The home has been freshly painted and features a wraparound deck. A detached shop provides additional storage or workspace. The commercial portion of the property includes a 2,492-square-foot warehouse with its own office and bathroom, which is currently rented and producing income. Additionally, there is a 1,200-square-foot pole barn for equipment, storage, or expansion. The property's location in the Austin metro corridor provides access to Austin, Bastrop, and surrounding areas. The property is partially residentially and partially commercially zoned, offering the possibility to run a business and live onsite. This property is suitable for entrepreneurs looking to combine home and business, investors seeking income-producing property, or those wanting space with commercial flexibility.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Restaurant Law Firm Spa & Massage Center Auto Repair Shop Hair Salon Gym & Fitness Center Auto Parts Store Nail Salon Kitchen & Bath Showroom Storage Facility

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

    Location Insight

    • Map
    • Local Demand
    City
    Cedar Creek
    County
    Bastrop
    State
    Texas
    Longitude
    -97.47061
    Latitude
    30.091991

    Nearby Similar for Sale

    • $650,000
      5,772 SF

      Versatile Commercial Property in Cedar Creek

      Two-acre property with residential and commercial zoning near Highway 21.
      829 State Highway 21, Cedar Creek, TX 78612
      View Details
    • $1,350,000

      8-Acre Property with Rental Income

      Two lots with three mobile homes, immediate rental income.
      194 Williams Ln A & C, Cedar Creek, TX 78612
      View Details
    • $1,350,000

      8 Acres with Mobile Homes

      Two lots with three mobile homes in Cedar Creek.
      194 Williams Lane, Cedar Creek, TX 78612
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Two-acre property with residential and commercial zoning near Austin.
    Where is this mixed-use property located?
    The property is located at 829 State Highway 21 Cedar Creek, TX.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: 2 acres with partial residential and partial commercial zoning off HWY 21.; **2,492 sq ft warehouse with office and bathroom, currently rented for immediate income.**; 5‑bedroom home with open kitchen, 2.5 bathrooms, and wraparound deck.
    (210) 269-9940
    We can help!
    Listing Contact
    Elizabeth Schmidtberger
    Real Estate License ID: 0690215
    Learn More
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    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
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