Ground-Floor Office Space with Garage
For Sale
Contact for pricing
1808 Aldrich St, Austin, TX 78723
Ground-floor office space with designated garage parking and prominent visibility on Aldrich St.
Property Size2,260 SF
Price / SF$450
Days on Market549
Property Features for 1808 Aldrich St
General Information
Standard status
Active
Size
2,260 SF
Property subtype
OFFICE
Additional Details
Floor
Ground Floor
Listing Agency:
Sayers Real Estate Advisors
(512) 472-6100
Listed By:
Jake Malone · License #728554
(512) 897-3075
Source:
Moodyscre
Added: Mar 21, 2025
Changed: Sep 15
Last Checked: Sep 19 at 11:41AM
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 Sayers Real Estate Advisors
Investment Insights
Based on property information with market context.
Ground-floor commercial space offered as an office unit in the heart of the Mueller Town Center. The space is approximately 2,260 SF and is positioned for strong street presence on Aldrich St.
The property benefits from a walkable setting, with access to more than 15 restaurants and the Mueller Farmers Market on Sundays. Designated garage parking is included, supporting convenient tenant or customer arrival.
Financing may be available through SBA programs, which can be a helpful fit for qualified buyers evaluating an owner-occupied or tenant-directed office use within a high-activity mixed-use environment.
The property benefits from a walkable setting, with access to more than 15 restaurants and the Mueller Farmers Market on Sundays. Designated garage parking is included, supporting convenient tenant or customer arrival.
Financing may be available through SBA programs, which can be a helpful fit for qualified buyers evaluating an owner-occupied or tenant-directed office use within a high-activity mixed-use environment.
Key Highlights
- Approximately 2,260 SF ground‑floor office unit
- Premier visibility on Aldrich St
- Designated garage parking included
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
$46,038
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
4.53%
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%
$920,760
$920.8K
Cap Rate 7%
$657,686
$657.7K
Cap Rate 9%
$511,533
$511.5K
Market Conditions
NOI Build-Up for 2,260 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
$81.1K $35.88/SF
− Vacancy
−$19.7K −$8.72/SF
EGI
$61.4K $27.16/SF
− OpEx
−$15.3K −$6.79/SF
NOI
$46.0K $20.37/SF
Area
Austin, TX
Vacancy
24.30%
Lease Rate
$35.88 /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%
$920,760
Cap Rate 7%
$657,686
Cap Rate 9%
$511,533
Alternative Uses
Best Use
Office B
$657.7K
$575.5K – $767.3K
NOI $46,038 @ 7.0% cap · market cap 4.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$885.6K
$774.9K – $1.03M
NOI $61,993 @ 7.0% cap · market cap 6.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
414
Businesses Nearby
Explore this area
Business Placement
Demographics for 78723, TX
34,522
Population
17,065
Households
2
Avg Household Size
35
Median Age
56%
College-Educated
91%
High-School Grad
7.1 sq mi
ZIP Area
4,862
Density / Sq Mi
$87,978
Median Household Income
$54,769
Median Earnings
$1,478
Median Rent
$513,500
Median Home Value
Market
Vacancy Rate% for Office in Austin, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Ground-floor office space with designated garage parking and prominent visibility on Aldrich St.
Where is this office units located?
The property is located at 1808 Aldrich St Austin, TX.
What is the asking price?
The asking price for this property is $1,017,000.
What are key features of this property?
This property features: Approximately 2,260 SF ground‑floor office unit; Premier visibility on Aldrich St; Designated garage parking included
