Two-Suite Flex Warehouse
For Sale
$1,825,000
15210 Fitzhugh RD # 17, Austin, TX 78736
Newer two-suite condo includes high-clear warehouse space, mezzanine office, and grade-level loading with one suite leased through February 2028.
Property Size7,500 SF
Price / SF$243.33
Days on Market69
Property Features for 15210 Fitzhugh RD # 17
General Information
Standard status
Active
Size
7,500 SF
Property subtype
Industrial
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$6,842
Building Details
Building Size
7,500 SF
Year Built
2022
Tenancy
Multi
Listing Agency:
eXp Realty LLC
Listed By:
Eugene Batson
(888) 519-7431
Source:
Localcolorrealestateaustin
Added: Jun 29
Changed: Sep 4
Last Checked: Aug 14 at 7:44AM
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.
This newer two-suite commercial condo is positioned for owner-occupancy or investment use. One suite, Suite 1401, is leased through February 2028, while Suite 1400 can be delivered available for an owner-user or new tenant. The property is approximately 7,500 SF per owner and includes a pump house/storage structure. Improvements include clean, modern exterior, high-clear warehouse areas, mezzanine office buildout, and grade-level loading. Concrete drive and parking areas are complemented by additional side parking and yard space.
The property is located within Fitzhugh Town Center Condominiums and provides convenient access to US-290, Hwy 71, Dripping Springs, and southwest Austin. The specific square footage, lease details, use, restrictions, taxes, utilities, and parking/yard and condo association information are to be independently verified by the buyer.
The property is located within Fitzhugh Town Center Condominiums and provides convenient access to US-290, Hwy 71, Dripping Springs, and southwest Austin. The specific square footage, lease details, use, restrictions, taxes, utilities, and parking/yard and condo association information are to be independently verified by the buyer.
Key Highlights
- Year built 2022 for this newer two‑suite commercial condo in Fitzhugh Town Center Condominiums
- Includes Suite 1401 leased through February 2028, while Suite 1400 can be delivered available for an owner‑user or new tenant
- Approximately 7,500 SF total per owner, including the pump house/storage structure (buyer to verify)
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
Multi-tenant
Tenancy
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 - Newer two-suite condo includes high-clear warehouse space, mezzanine office, and grade-level loading with one suite leased through February 2028.
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: Year built 2022 for this newer two‑suite commercial condo in Fitzhugh Town Center Condominiums; Includes Suite 1401 leased through February 2028, while Suite 1400 can be delivered available for an owner‑user or new tenant; Approximately 7,500 SF total per owner, including the pump house/storage structure (buyer to verify)
