Freestanding Office
New
For Sale
$3,036,315
1602 Medical Pkwy, Cedar Park, TX 78613
A single-level office facility with an on-site surface parking lot.
Property Size8,553 SF
Price / SF$355
Days on Market2
Property Features for 1602 Medical Pkwy
General Information
Standard status
Active
Size
8,553 SF
Class
B
Property subtype
Office
Additional Details
Property Use
Office
Building Details
Building Size
8,553 SF
Year Built
2015
Buildings
1
Stories
1
Listed By:
LT Commercial Group
(512) 490-6666
Source:
Ltcommercialgroup
Added: Oct 23
Last Checked: Oct 24 at 2:37PM
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 LT Commercial Group
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Investment Insights
Based on property information with market context.
This freestanding office building contains 8,553 square feet across a single-story layout. Completed in 2015, it is served by a surface parking lot and is located directly beside Cedar Park Regional Medical Center.
The property is in Cedar Park, Texas, within an area that includes specialty medical providers.
The property is in Cedar Park, Texas, within an area that includes specialty medical providers.
Key Highlights
- 8,553‑square‑foot, single‑story office building
- Completed in 2015
- Freestanding building with surface parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$203,951
Cap Rate
6.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,079,020
$4.1M
Cap Rate 7%
$2,913,586
$2.9M
Cap Rate 9%
$2,266,122
$2.3M
Market Conditions
NOI Build-Up for 8,553 SF
Gross rent
$359.2K $42.00/SF
− Vacancy
−$87.3K −$10.21/SF
EGI
$271.9K $31.79/SF
− OpEx
−$68.0K −$7.95/SF
NOI
$204.0K $23.85/SF
Area
Williamson County, TX
Vacancy
24.30%
Lease Rate
$42.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,079,020
Cap Rate 7%
$2,913,586
Cap Rate 9%
$2,266,122
Alternative Uses
Best Use
Office B
$2.91M
$2.55M – $3.40M
NOI $203,951 @ 7.0% cap · market cap 6.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.58M
$3.13M – $4.17M
NOI $250,276 @ 7.0% cap · market cap 8.24%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,661
Businesses Nearby
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Business Placement
Demographics for 78613, TX
89,279
Population
34,198
Households
2.6
Avg Household Size
36
Median Age
55%
College-Educated
97%
High-School Grad
27.7 sq mi
ZIP Area
3,223
Density / Sq Mi
$120,829
Median Household Income
$61,782
Median Earnings
$1,733
Median Rent
$461,900
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - A single-level office facility with an on-site surface parking lot.
Where is this office building located?
The property is located at 1602 Medical Pkwy Cedar Park, TX.
What is the asking price?
The asking price for this property is $3,036,315.
What are key features of this property?
This property features: 8,553‑square‑foot, single‑story office building; Completed in 2015; Freestanding building with surface parking
