Medical Office NNN
For Sale
$3,150,000
2005 N Lakeline Blvd, Cedar Park, TX 78613
Turnkey medical office investment built in 2018, fully leased to two practices under 5+ year NNN terms.
Property Size6,573 SF
Price / SF$479.23
Days on Market103
Property Features for 2005 N Lakeline Blvd
General Information
Standard status
Active
Size
6,573 SF
Property subtype
Commercial
Occupancy
100%
Additional Details
Cap Rate
6.62%
Traffic Count
18,000 vehicles/day
Building Details
Year Built
2017
Tenancy
Multi
Listing Agency:
Compass
(512) 913-7480
Listed By:
Jeffrey Schnabel · License #0661645
(512) 913-7480
Source:
Elliman
Added: Apr 24
Changed: Jul 22
Last Checked: Aug 3 at 10:14AM
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
Investment Insights
Based on property information with market context.
This turnkey medical office property was constructed in 2018 and totals 6,573 SF. The building is fully leased to two established medical practices, a rheumatology group and an orthodontics practice, each carrying 5+ year NNN lease terms.
Located at 2005 N Lakeline Blvd in Cedar Park, the property sits on a highly visible hard corner on 1+ acres with reported 18K+ vehicles daily. The surrounding context described in the remarks includes proximity to dense residential neighborhoods, senior housing, and local demand drivers for long-term tenancy.
With 100% occupancy and stabilized operations as presented in the materials, the property is offered as a NNN investment with built-in scheduled rent growth as historically underwritten in the lease structure.
Located at 2005 N Lakeline Blvd in Cedar Park, the property sits on a highly visible hard corner on 1+ acres with reported 18K+ vehicles daily. The surrounding context described in the remarks includes proximity to dense residential neighborhoods, senior housing, and local demand drivers for long-term tenancy.
With 100% occupancy and stabilized operations as presented in the materials, the property is offered as a NNN investment with built-in scheduled rent growth as historically underwritten in the lease structure.
Key Highlights
- Medical office investment built in 2017 (constructed 2018) and fully leased to two established medical practices
- 6,573 SF building on a 1+ AC hard corner with high visibility and 18K+ vehicles daily
- 5+ year NNN lease terms with both tenants having 5+ year terms
Financial Insights For Office B
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 | $276.1k | $42.00 |
| − Vacancy | −$67.1k | −$10.21 |
| EGI | $209.0k | $31.79 |
| − OpEx | −$52.2k | −$7.95 |
| NOI | $156.7k | $23.85 |
6,573 SF · lease $42.00/SF/yr · vacancy 24.30% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.24M
$1.96M – $2.61M
NOI $156,736 @ 7.0% cap · market cap 4.98%
Second Best
Healthcare Medical
$1.70M
$1.49M – $1.99M
NOI $119,261 @ 7.0% cap · market cap 3.79%
Theoretical Best
Office A
$2.75M
$2.40M – $3.21M
NOI $192,338 @ 7.0% cap · market cap 6.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
18,000 VPD
Traffic count
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
322
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78613, TX
89,279
Population
34,198
Households
2.6
Avg Household Size
36
Median Age
55%
College-Educated
97%
High-School Grad
27.7 sq mi
ZIP Area
3,223
Density / Sq Mi
$120,829
Median Household Income
$61,782
Median Earnings
$1,733
Median Rent
$461,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Turnkey medical office investment built in 2018, fully leased to two practices under 5+ year NNN terms.
Where is this medical office space located?
The property is located at 2005 N Lakeline Blvd Cedar Park, TX.
What is the asking price?
The asking price for this property is $3,150,000.
What are key features of this property?
This property features: Medical office investment built in 2017 (constructed 2018) and fully leased to two established medical practices; 6,573 SF building on a 1+ AC hard corner with high visibility and 18K+ vehicles daily; 5+ year NNN lease terms with both tenants having 5+ year terms
