Two-Suite Flex Space
For Sale
$1,825,000
15210 Fitzhugh Rd 17, Austin, TX 78736
2022 commercial condominium pairs available owner-user space with scheduled income from an adjacent leased suite.
Property Size7,500 SF
Price / SF$243.33
Days on Market35
Property Features for 15210 Fitzhugh Rd 17
General Information
Standard status
Active
Size
7,500 SF
Additional Details
Highway Access
Yes
Building Details
Year Built
2022
Listing Agency:
eXp Realty LLC
Listed By:
Eugene Batson
(888) 519-7431
Source:
Austintexasrealestate
Added: Aug 4
Changed: Sep 6
Last Checked: Sep 7 at 11:29AM
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 eXp Realty LLC
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.
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 = 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
$81,485
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
4.46%
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%
$1,629,700
$1.6M
Cap Rate 7%
$1,164,071
$1.2M
Cap Rate 9%
$905,389
$905.4K
Market Conditions
NOI Build-Up for 7,500 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
$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 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%
$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
NOI $81,485 @ 7.0% cap · market cap 4.46%
Second Best
Industrial
$958.6K
$838.8K – $1.12M
NOI $67,105 @ 7.0% cap · market cap 3.68%
Theoretical Best
Office A
$2.94M
$2.57M – $3.43M
NOI $205,730 @ 7.0% cap · market cap 11.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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 17 Austin, TX.
What is the asking price?
The asking price for this property is $1,825,000.
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
