Professional Office Condo
For Sale
$280,000
2251 Double Creek DR # 503, Round Rock, TX 78664
Well-maintained office condominium with dedicated workrooms, reception space, break area, and private restroom.
Property Size836 SF
Days on Market832
Property Features for 2251 Double Creek DR # 503
General Information
Standard status
Active
Size
836 SF
Property subtype
Office
Additional Details
Highway Access
Yes
Office Units
1
Taxes and HOA fees
Annual Taxes
$4,427
Building Details
Building Size
836 SF
Year Built
2005
Tenancy
Single
Listing Agency:
Keith Hutchison, Broker
Listed By:
Keith Hutchison · License #0568252
(512) 244-6100
Source:
Denpg
Added: May 31, 2024
Changed: Aug 29
Last Checked: Sep 8 at 10:24AM
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 Keith Hutchison, Broker
Investment Insights
Based on property information with market context.
This professional office condominium was built in 2005 and is configured with four offices, a reception area, kitchen and break space, and a private restroom. Ten-foot ceilings add vertical clearance throughout the unit. The property is currently subject to a tenant lease with cash flow continuing through September 30, 2026.
The office complex is located in Round Rock near SH45, IH35, TX 130, Hwy 79, and 183. The US Post Office is across the street, and DELL is nearby. HOA dues cover water, trash, sewage, and maintenance of the exterior common areas.
The office complex is located in Round Rock near SH45, IH35, TX 130, Hwy 79, and 183. The US Post Office is across the street, and DELL is nearby. HOA dues cover water, trash, sewage, and maintenance of the exterior common areas.
Key Highlights
- Four‑office layout with reception area, kitchen and break space, and private restroom
- 10' ceilings throughout the professional office condominium
- Current tenant lease and cash flow extend through September 30, 2026
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
$13,299
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
4.75%
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%
$265,980
$266.0K
Cap Rate 7%
$189,986
$190.0K
Cap Rate 9%
$147,767
$147.8K
Market Conditions
NOI Build-Up for 836 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
$25.1K $30.00/SF
− Vacancy
−$7.3K −$8.79/SF
EGI
$17.7K $21.21/SF
− OpEx
−$4.4K −$5.30/SF
NOI
$13.3K $15.91/SF
Area
Round Rock, TX
Vacancy
29.30%
Lease Rate
$30.00 /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%
$265,980
Cap Rate 7%
$189,986
Cap Rate 9%
$147,767
Alternative Uses
Best Use
Office B
$190.0K
$166.2K – $221.7K
NOI $13,299 @ 7.0% cap · market cap 4.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$264.8K
$231.7K – $309.0K
NOI $18,539 @ 7.0% cap · market cap 6.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
662
Businesses Nearby
Explore this area
Business Placement
Demographics for 78664, TX
60,287
Population
24,259
Households
2.5
Avg Household Size
34
Median Age
35%
College-Educated
90%
High-School Grad
16.6 sq mi
ZIP Area
3,632
Density / Sq Mi
$85,919
Median Household Income
$45,700
Median Earnings
$1,645
Median Rent
$317,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office units - Well-maintained office condominium with dedicated workrooms, reception space, break area, and private restroom.
Where is this office units located?
The property is located at 2251 Double Creek DR # 503 Round Rock, TX.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: Four‑office layout with reception area, kitchen and break space, and private restroom; 10' ceilings throughout the professional office condominium; Current tenant lease and cash flow extend through September 30, 2026
