Prime Office Space Near Hwy
For Sale
Contact for pricing
Pending
13740 HWY 183, Austin, TX 78750
Well-maintained office space near Hwy 183 & Lake Creek Pkwy.
Property Size1,600 SF
Days on Market107
Property Features for 13740 HWY 183
General Information
Standard status
Pending
Size
1,600 SF
Class
C
Property subtype
Office
Lease Type
Modified Gross
Investment Type
Owner/User
Building Details
Year Built
1983
Year Renovated
2019
Buildings
1
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
Peridot Realty Group
(512) 791-7419
Listed By:
Sally Decelis · License #0596816
Source:
Crexi
Added: May 17
Changed: Aug 21
Last Checked: Aug 20 at 10:53AM
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 Peridot Realty Group
Investment Insights
Based on property information with market context.
Located in Lake Creek Office Park near Hwy 183 and Lake Creek Pkwy, this commercial property offers approximately 1600 square feet of professional space, consisting of two connected units. The location is near the southwest quadrant of the interchange of 45 (620) and 183 (Research Blvd), with walking distance to a variety of restaurants. Each unit features its own HVAC system and separate meters. The property has no gas. Ample parking is available for employees and clients. The Lake Creek Office Condo Park HOA fees cover nearly all exterior maintenance and insurance. The current tenant would like to leave late in the third quarter of 2026.
Key Highlights
- Prime location near Hwy 183 & Lake Creek Pkwy and the interchange of 45 (620) and 183 (Research Blvd) in NW Austin.
- Two connected units totaling approximately 1600 sq ft.
- Ample parking for employees and clients.
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
$32,593
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
9.05%
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%
$651,860
$651.9K
Cap Rate 7%
$465,614
$465.6K
Cap Rate 9%
$362,144
$362.1K
Market Conditions
NOI Build-Up for 1,600 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
$57.4K $35.88/SF
− Vacancy
−$14.0K −$8.72/SF
EGI
$43.5K $27.16/SF
− OpEx
−$10.9K −$6.79/SF
NOI
$32.6K $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%
$651,860
Cap Rate 7%
$465,614
Cap Rate 9%
$362,144
Alternative Uses
Best Use
Office B
$465.6K
$407.4K – $543.2K
NOI $32,593 @ 7.0% cap · market cap 9.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$627.0K
$548.6K – $731.5K
NOI $43,889 @ 7.0% cap · market cap 12.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
627
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 - Well-maintained office space near Hwy 183 & Lake Creek Pkwy.
Where is this office units located?
The property is located at 13740 HWY 183 Austin, TX.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: Prime location near Hwy 183 & Lake Creek Pkwy and the interchange of 45 (620) and 183 (Research Blvd) in NW Austin.; Two connected units totaling approximately 1600 sq ft.; Ample parking for employees and clients.
