Office Condo in Business
For Sale
$549,000
13740 N Highway 183 E, Austin, TX 78750
Professional office condominium within Lake Creek Office Park in Northwest Austin.
Property Size1,579 SF
Price / SF$347.69
Days on Market42
Property Features for 13740 N Highway 183 E
General Information
Standard status
Active
Size
1,579 SF
Building Details
Year Built
1983
Listing Agency:
Central Metro Realty
(512) 454-6873
Listed By:
Thaddeus Lindsay
Source:
Olverabolton
Added: Jul 21
Changed: Aug 28
Last Checked: Aug 30 at 7:47PM
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 Central Metro Realty
Investment Insights
Based on property information with market context.
This 1,579-square-foot office condominium was built in 1983 and is located within Lake Creek Office Park, also identified as The Hills complex. The property offers a dedicated commercial setting for office-based operations, medical practice, or professional services use.
The office is positioned at 13740 N Highway 183 E in Austin, Texas, within the Northwest Austin business area. Its placement combines an established office-park environment with access to a major highway corridor.
The office is positioned at 13740 N Highway 183 E in Austin, Texas, within the Northwest Austin business area. Its placement combines an established office-park environment with access to a major highway corridor.
Key Highlights
- 1,579‑square‑foot office condominium
- Located in Lake Creek Office Park, also known as The Hills complex
- Built in 1983
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
$32,166
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
5.86%
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%
$643,320
$643.3K
Cap Rate 7%
$459,514
$459.5K
Cap Rate 9%
$357,400
$357.4K
Market Conditions
NOI Build-Up for 1,579 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
$56.7K $35.88/SF
− Vacancy
−$13.8K −$8.72/SF
EGI
$42.9K $27.16/SF
− OpEx
−$10.7K −$6.79/SF
NOI
$32.2K $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%
$643,320
Cap Rate 7%
$459,514
Cap Rate 9%
$357,400
Alternative Uses
Best Use
Office B
$459.5K
$402.1K – $536.1K
NOI $32,166 @ 7.0% cap · market cap 5.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$618.8K
$541.4K – $721.9K
NOI $43,313 @ 7.0% cap · market cap 7.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,888
Businesses Nearby
Explore this area
Business Placement
Demographics for 78750, TX
28,348
Population
12,186
Households
2.3
Avg Household Size
40
Median Age
63%
College-Educated
96%
High-School Grad
11.8 sq mi
ZIP Area
2,402
Density / Sq Mi
$123,722
Median Household Income
$62,096
Median Earnings
$1,743
Median Rent
$552,800
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 - Professional office condominium within Lake Creek Office Park in Northwest Austin.
Where is this office units located?
The property is located at 13740 N Highway 183 E Austin, TX.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: 1,579‑square‑foot office condominium; Located in Lake Creek Office Park, also known as The Hills complex; Built in 1983
