Two-Building Mixed-Use
For Sale
Contact for pricing
1609 Ohlen Rd, Austin, TX 78758
Both structures are available vacant for an owner-user, with medical-office, retail, and office space.
Property Size8,200 SF
Lot Size0.56 Acres
Price / SF$210
Days on Market8
Property Features for 1609 Ohlen Rd
General Information
Standard status
Active
Size
8,200 SF
Lot size
0.56 Acres
Property subtype
Office, Retail
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Buildings
2
Building Size
8,200 SF
Listing Agency:
Partners - Austin
Listed By:
Ryan McCullough, SIOR · License #TX 742422
Source:
Crexi
Added: Sep 18
Changed: Sep 24
Last Checked: Sep 24 at 3:19PM
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 Partners - Austin
Investment Insights
Based on property information with market context.
The property comprises two buildings totaling ±8,200 square feet on 0.56 acres. The ±2,200-square-foot building is configured for medical office use, while the ±6,000-square-foot building contains retail and office space. Both are to be delivered vacant at closing, without tenants or a leaseback arrangement.
The site has access to and visibility from Hwy 183, MoPac Expressway, and I-35.
The site has access to and visibility from Hwy 183, MoPac Expressway, and I-35.
Key Highlights
- Two buildings totaling ±8,200 square feet on 0.56 acres
- ±2,200‑square‑foot building finished for medical office use
- ±6,000‑square‑foot building with retail and office space
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
$144,388
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
8.38%
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%
$2,887,760
$2.9M
Cap Rate 7%
$2,062,686
$2.1M
Cap Rate 9%
$1,604,311
$1.6M
Market Conditions
NOI Build-Up for 8,200 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
$213.5K $26.04/SF
− Vacancy
−$7.3K −$0.89/SF
EGI
$206.3K $25.15/SF
− OpEx
−$61.9K −$7.55/SF
NOI
$144.4K $17.61/SF
Area
Austin, TX
Vacancy
3.40%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
30.00%
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%
$2,887,760
Cap Rate 7%
$2,062,686
Cap Rate 9%
$1,604,311
Alternative Uses
Best Use
Office B
$2.39M
$2.09M – $2.78M
NOI $167,041 @ 7.0% cap · market cap 9.70%
Second Best
Retail
$2.06M
$1.80M – $2.41M
NOI $144,388 @ 7.0% cap · market cap 8.38%
Theoretical Best
Office A
$3.21M
$2.81M – $3.75M
NOI $224,931 @ 7.0% cap · market cap 13.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,081
Businesses Nearby
Explore this area
Business Placement
Demographics for 78758, TX
49,831
Population
25,745
Households
1.9
Avg Household Size
32
Median Age
46%
College-Educated
85%
High-School Grad
9.1 sq mi
ZIP Area
5,476
Density / Sq Mi
$69,019
Median Household Income
$47,685
Median Earnings
$1,549
Median Rent
$419,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Austin, TX
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Both structures are available vacant for an owner-user, with medical-office, retail, and office space.
Where is this mixed-use property located?
The property is located at 1609 Ohlen Rd Austin, TX.
What is the asking price?
The asking price for this property is $1,722,000.
What are key features of this property?
This property features: Two buildings totaling ±8,200 square feet on 0.56 acres; ±2,200‑square‑foot building finished for medical office use; ±6,000‑square‑foot building with retail and office space
