Shopping Center Anchored by Fitness
13776 N Hwy 183 Austin, TX 78750
13776 N Hwy 183, Austin, TX, 78750
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For Sale
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Multi-tenant shopping center with two pad sites and a 29,566 SF single-tenant building on ground lease, 97% occupied.
Property Size203,071 SF
Lot Size17.66 Acres
Price / SF$210.52
Days on Market471
Property Features for 13776 N Hwy 183
General Information
- Standard status
- Active
- Size
- 203,071 SF
- Lot size
- 17.66 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 1987
Listing agency
Marcus & Millichap - Dallas
(512) 338-7800
Listed by
Philip Levy · License #TX 522087
Source
Crexi
Added: Apr 7, 2025 Updated: Jul 21 at 4:13AM Checked: Jul 21 at 4:13AM
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 Marcus & Millichap - Dallas
Investment Insights
Based on property information with market context.
Market at Lakecreek consists of three multi-tenant buildings plus two pad sites, totaling 173,505 square feet of leasable area, and includes one 29,566-square-foot single-tenant building on a ground lease. The center is situated on 17.66 acres and is currently 97 percent occupied.
Anchors at the property include Fitness Connection and Goodwill, together occupying approximately 47 percent of the gross leasable area. Habitat for Humanity ReStore is on a 10-year ground lease with scheduled annual rent increases. Additional tenants include Austin Gymnastics, O’Reilly Auto Parts, Koryu, Kid Strong, Los Reyes Mexican Grill, P. Terry’s Burger Stand, and Taco Bell.
The shopping center is located at a signalized intersection of U.S. Highway 183 and Lake Creek Parkway, just south of State Highway 45, and benefits from strong highway visibility with cumulative traffic counts exceeding 134,964 vehicles per day. Major nearby retailers include Walmart Supercenter, Lowe’s, Burlington, Target, The Home Depot, H-E-B plus!, and others, with Lakeline Mall approximately one mile north.
Anchors at the property include Fitness Connection and Goodwill, together occupying approximately 47 percent of the gross leasable area. Habitat for Humanity ReStore is on a 10-year ground lease with scheduled annual rent increases. Additional tenants include Austin Gymnastics, O’Reilly Auto Parts, Koryu, Kid Strong, Los Reyes Mexican Grill, P. Terry’s Burger Stand, and Taco Bell.
The shopping center is located at a signalized intersection of U.S. Highway 183 and Lake Creek Parkway, just south of State Highway 45, and benefits from strong highway visibility with cumulative traffic counts exceeding 134,964 vehicles per day. Major nearby retailers include Walmart Supercenter, Lowe’s, Burlington, Target, The Home Depot, H-E-B plus!, and others, with Lakeline Mall approximately one mile north.
Key Highlights
- Market at Lakecreek includes 3 multi‑tenant buildings plus 2 pad sites totaling 173,505 SF of leasable area
- Anchored by Fitness Connection and Goodwill, occupying about 47% of gross leasable area
- Center is currently 97% occupied with major tenants including Austin Gymnastics, O'Reilly Auto Parts, O'Reilly Auto Parts, P. Terry's, and Taco Bell
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $5.29M | $26.04 |
| − Vacancy | −$179.8k | −$0.89 |
| EGI | $5.11M | $25.15 |
| − OpEx | −$1.53M | −$7.55 |
| NOI | $3.58M | $17.61 |
203,071 SF · lease $26.04/SF/yr · vacancy 3.40% · expense 30.00%
Alternative Uses
Best Use
Retail
$51.08M
$44.70M – $59.60M
NOI $3,575,725 @ 7.0% cap · market cap 8.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$79.58M
$69.63M – $92.84M
NOI $5,570,371 @ 7.0% cap · market cap 13.03%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Shopping center - Multi-tenant shopping center with two pad sites and a 29,566 SF single-tenant building on ground lease, 97% occupied.
Where is this shopping center located?
The property is located at 13776 N Hwy 183 Austin, TX.
What is the asking price?
The asking price for this property is $42,750,000.
What are key features of this property?
This property features: Market at Lakecreek includes 3 multi‑tenant buildings plus 2 pad sites totaling 173,505 SF of leasable area; Anchored by Fitness Connection and Goodwill, occupying about 47% of gross leasable area; Center is currently 97% occupied with major tenants including Austin Gymnastics, O'Reilly Auto Parts, O'Reilly Auto Parts, P. Terry's, and Taco Bell
