Retail Building with Highway
New
For Sale
$770,000
301 S Highway 183, Leander, TX 78641
Retail-zoned property with offices, reception space, kitchen, and parking at the front and rear.
Property Size1,299 SF
Price / SF$592.76
Days on Market2
Property Features for 301 S Highway 183
General Information
Standard status
Active
Size
1,299 SF
Additional Details
Highway Access
Yes
Amenities
private offices
reception area
kitchen
Building Details
Year Built
1956
Buildings
1
Listing Agency:
Key Realty & Associates, LLC
Listed By:
Andre Key
(512) 815-3539
Source:
Cityviewtx
Added: Sep 15
Changed: Sep 16
Last Checked: Sep 16 at 1:54AM
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 Key Realty & Associates, LLC
Investment Insights
Based on property information with market context.
This retail property includes a functional interior with two private offices, a reception area, and a spacious kitchen. The building was constructed in 1956 and is designated for retail use, supporting a range of commercial applications. Parking includes shared spaces along the front and additional private spaces at the rear.
Positioned along Highway 183 at 301 S Highway 183 in Leander, the property offers highway frontage and exposure to daily traffic. Its configuration combines customer-facing space with enclosed offices and support areas, providing a practical setup for retail or service-oriented operations.
Positioned along Highway 183 at 301 S Highway 183 in Leander, the property offers highway frontage and exposure to daily traffic. Its configuration combines customer-facing space with enclosed offices and support areas, providing a practical setup for retail or service-oriented operations.
Key Highlights
- Retail zoning supports commercial storefront use
- Two private offices plus reception area
- Spacious kitchen included in the layout
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
$22,873
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
2.97%
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%
$457,460
$457.5K
Cap Rate 7%
$326,757
$326.8K
Cap Rate 9%
$254,144
$254.1K
Market Conditions
NOI Build-Up for 1,299 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
$33.8K $26.04/SF
− Vacancy
−$1.2K −$0.89/SF
EGI
$32.7K $25.15/SF
− OpEx
−$9.8K −$7.55/SF
NOI
$22.9K $17.61/SF
Area
Travis County, TX
Vacancy
3.40%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
30.00%
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%
$457,460
Cap Rate 7%
$326,757
Cap Rate 9%
$254,144
Alternative Uses
Best Use
Retail
$326.8K
$285.9K – $381.2K
NOI $22,873 @ 7.0% cap · market cap 2.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$543.0K
$475.1K – $633.5K
NOI $38,011 @ 7.0% cap · market cap 4.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
532
Businesses Nearby
28k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 93%
Home Improvements & Furnishings 7%
Shell
Shops & Services
7,845 visits/mo
0.5 miles
Exxon
Shops & Services
6,952 visits/mo
0.2 miles
7-Eleven
Shops & Services
6,456 visits/mo
0.2 miles
7-Eleven
Shops & Services
2,899 visits/mo
0.5 miles
PNC Bank
Shops & Services
2,098 visits/mo
0.3 miles
Demographics for 78641, TX
83,426
Population
33,118
Households
2.5
Avg Household Size
36
Median Age
51%
College-Educated
95%
High-School Grad
124.4 sq mi
ZIP Area
671
Density / Sq Mi
$131,421
Median Household Income
$61,185
Median Earnings
$1,873
Median Rent
$453,100
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 Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail-zoned property with offices, reception space, kitchen, and parking at the front and rear.
Where is this retail space located?
The property is located at 301 S Highway 183 Leander, TX.
What is the asking price?
The asking price for this property is $770,000.
What are key features of this property?
This property features: Retail zoning supports commercial storefront use; Two private offices plus reception area; Spacious kitchen included in the layout
