Two-Tenant Office
New
For Sale
$1,550,000
15210 Fitzhugh Rd Ste 1901, Austin, TX 78736
Includes a multi-office suite with open work areas, two restrooms, and rear storage containers.
Property Size3,822 SF
Days on Market2
Property Features for 15210 Fitzhugh Rd Ste 1901
General Information
Standard status
Active
Size
3,822 SF
Class
A
Property subtype
Multi Tenant Office
Occupancy
100%
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Office Units
2
Building Details
Building Size
3,822 SF
Buildings
1
Tenancy
Multi
Owner Occupied
Yes
Listing Agency:
Compass Commercial
Listed By:
Guy Oberg III · License #534590
(512) 633-0369
Source:
Thebrokerlist
Added: Sep 1
Last Checked: Sep 1 at 10:31PM
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 Compass Commercial
Investment Insights
Based on property information with market context.
This two-tenant office building includes a 2,500-square-foot suite currently leased on a gross basis and a 3,822-square-foot suite occupied by the owner. The owner-occupied space includes multiple offices, open work areas, two restrooms, and additional workspace. The owner plans to vacate at closing. Approximately 600 square feet of storage containers are positioned at the rear of the property.
The property is located at 15210 Fitzhugh Rd Ste 1901 in Austin, with access from Fitzhugh Road near Hwy 290. It is southwest of Austin and near Dripping Springs and Lake Travis.
The property is located at 15210 Fitzhugh Rd Ste 1901 in Austin, with access from Fitzhugh Road near Hwy 290. It is southwest of Austin and near Dripping Springs and Lake Travis.
Key Highlights
- 2,500 SF leased office suite with gross lease structure
- 3,822 SF owner‑occupied suite planned to be vacated at closing
- Multiple offices and open space in Suite 1900
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
$77,857
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
5.02%
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%
$1,557,140
$1.6M
Cap Rate 7%
$1,112,243
$1.1M
Cap Rate 9%
$865,078
$865.1K
Market Conditions
NOI Build-Up for 3,822 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
$137.1K $35.88/SF
− Vacancy
−$33.3K −$8.72/SF
EGI
$103.8K $27.16/SF
− OpEx
−$26.0K −$6.79/SF
NOI
$77.9K $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%
$1,557,140
Cap Rate 7%
$1,112,243
Cap Rate 9%
$865,078
Alternative Uses
Best Use
Office B
$1.11M
$973.2K – $1.30M
NOI $77,857 @ 7.0% cap · market cap 5.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.50M
$1.31M – $1.75M
NOI $104,840 @ 7.0% cap · market cap 6.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
55
Businesses Nearby
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 Office in Austin, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Includes a multi-office suite with open work areas, two restrooms, and rear storage containers.
Where is this office building located?
The property is located at 15210 Fitzhugh Rd Ste 1901 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: 2,500 SF leased office suite with gross lease structure; 3,822 SF owner‑occupied suite planned to be vacated at closing; Multiple offices and open space in Suite 1900
