Building Details

Building Size 6,322 SF

Year Built 2021

Listing Agency: Compass Commercial

Listed By: Guy Oberg III · License #534590 Show Phone

Source: Thebrokerlist

Added: Aug 4 Changed: Oct 8 Last Checked: Oct 20 at 5:09PM

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Investment Insights

Based on property information with market context.

Built in 2022, this flex-space condominium contains two commercial suites within a total property area of approximately 7,500 SF, including a pump house and storage structure. The improvements feature high-clear warehouse areas, mezzanine office space, grade-level loading, concrete drive and parking areas, and additional side parking or yard space. Suite 1400 is available for an owner-user or incoming tenant, with approximately 3,000 SF suited to current operations. Suite 1401 is leased through February 2028, providing scheduled income from the adjoining space.

The property is part of Fitzhugh Town Center Condominiums at 15210 Fitzhugh Rd 17 in Austin. Access is provided to US-290, Hwy 71, Dripping Springs, and southwest Austin, supporting a range of commercial and industrial operations.

Key Highlights

• Two commercial suites within approximately 7,500 SF, including a pump house and storage structure
• Suite 1400 offers approximately 3,000 SF for an owner‑user or new tenant
• Suite 1401 is leased through February 2028

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$81,485

Cap Rate

5.26%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,629,700 $1.6M

Cap Rate 7%

$1,164,071 $1.2M

Cap Rate 9%

$905,389 $905.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 7,500 SF

Gross rent

$111.6K $14.88/SF

− Vacancy

−$15.7K −$2.10/SF

EGI

$95.9K $12.78/SF

− OpEx

−$14.4K −$1.92/SF

NOI

$81.5K $10.86/SF

Area

Austin, TX

Vacancy

14.10%

Lease Rate

$14.88 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,629,700

Cap Rate 7%

$1,164,071

Cap Rate 9%

$905,389

Alternative Uses

Best Use

Warehouse

$1.16M

$1.02M – $1.36M (±1% cap)

NOI $81,485 @ 7.0% cap · market cap 5.26%

Second Best

Industrial

$958.6K

$838.8K – $1.12M (±1% cap)

NOI $67,105 @ 7.0% cap · market cap 4.33%

Theoretical Best

Office A

$2.94M

$2.57M – $3.43M (±1% cap)

NOI $205,730 @ 7.0% cap · market cap 13.27%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Modern Event Rental Interior Design BATTER UP ATX Arcade & Gaming Center A&O Cabinets General Contractor AustinKeyGuard Locksmith A&O Cabinets, LLC General Contractor

Suggested Use

Top Pick Parking Lot & Garage HVAC Service Electrical Service Building Supply Locksmith Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

55

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 78736, TX

10,165

Population

4,539

Households

2.2

Avg Household Size

40

Median Age

54%

College-Educated

97%

High-School Grad

22.3 sq mi

ZIP Area

456

Density / Sq Mi

$100,761

Median Household Income

$52,920

Median Earnings

$1,849

Median Rent

$556,400

Median Home Value

Market

Vacancy Rate% for Industrial in Austin, TX

7.5% 2019

5.7% 2020

3.9% 2021

4.3% 2022

9.1% 2023

13.3% 2024

21.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - 2022 commercial condominium pairs available owner-user space with scheduled income from an adjacent leased suite.

Where is this flex space located?

The property is located at 15210 Fitzhugh Rd Austin, TX.

What is the asking price?

The asking price for this property is $1,550,000.

What are key features of this property?

This property features: Two commercial suites within approximately 7,500 SF, including a pump house and storage structure; Suite 1400 offers approximately 3,000 SF for an owner‑user or new tenant; Suite 1401 is leased through February 2028