Pflugerville Retail/Office Investment
For Sale
Contact for pricing
1620 Grand Ave Pkwy, Pflugerville, TX 78660
Multi-tenant retail/office center with redevelopment potential on 2 acres.
Property Size13,942 SF
Lot Size2.00 Acres
Price / SF$358.63
Days on Market100
Property Features for 1620 Grand Ave Pkwy
General Information
Standard status
Active
Size
13,942 SF
Class
A
Lot size
2.00 Acres
Property subtype
Retail, Office
Occupancy
83%
Net Operating Income
$202,401
Building Details
Year Built
2009
Tenancy
Multi
Listing Agency:
McAllister & Associates
(512) 472-2100
Listed By:
Boyd Harris · License #TX 0621609
Source:
Crexi
Added: May 22
Changed: Aug 14
Last Checked: Aug 26 at 9:32AM
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 McAllister & Associates
Investment Insights
Based on property information with market context.
Grand Avenue Plaza is a multi-tenant retail and office center situated on a prominent corner in Pflugerville, within a major commercial corridor. The location benefits from a 4-way stoplight with dual lanes in each direction, along with dedicated turn lanes. The property features signage, access, and visibility along Grand Avenue Parkway and Central Commerce Drive. Tenants have a history of long-term occupancy and sound credit. There is potential for increased yield through full property leasing. The property, encompassing 2.0 acres, may also present redevelopment opportunities. The property size is 13942 square feet.
Key Highlights
- Prime location on a high‑traffic corner in a major commercial corridor.
- Excellent signage, access, and visibility on Grand Avenue Parkway and Central Commerce Drive.
- Long‑term tenants with sound credit.
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
$245,494
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
4.91%
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%
$4,909,880
$4.9M
Cap Rate 7%
$3,507,057
$3.5M
Cap Rate 9%
$2,727,711
$2.7M
Market Conditions
NOI Build-Up for 13,942 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
$363.0K $26.04/SF
− Vacancy
−$12.3K −$0.89/SF
EGI
$350.7K $25.15/SF
− OpEx
−$105.2K −$7.55/SF
NOI
$245.5K $17.61/SF
Area
Travis County, 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%
$4,909,880
Cap Rate 7%
$3,507,057
Cap Rate 9%
$2,727,711
Alternative Uses
Best Use
Retail
$3.51M
$3.07M – $4.09M
NOI $245,494 @ 7.0% cap · market cap 4.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.83M
$5.10M – $6.80M
NOI $407,967 @ 7.0% cap · market cap 8.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,081
Businesses Nearby
40k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 89%
Dining 9%
Home Improvements & Furnishings 2%
QuikTrip
Shops & Services
28,053 visits/mo
0.3 miles
7-Eleven
Shops & Services
6,988 visits/mo
0.4 miles
Thundercloud Subs
Dining
3,645 visits/mo
0.2 miles
Equipment Depot
Shops & Services
453 visits/mo
0.4 miles
Graybar
Home Improvements & Furnishings
396 visits/mo
0.4 miles
Demographics for 78660, TX
110,955
Population
44,399
Households
2.5
Avg Household Size
34
Median Age
42%
College-Educated
93%
High-School Grad
44.6 sq mi
ZIP Area
2,488
Density / Sq Mi
$109,522
Median Household Income
$55,927
Median Earnings
$1,769
Median Rent
$369,300
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Windermere Centre — 15803 Windermere Dr, Pflugerville, TX 78660
- Three Points Plaza — 2700 W Pecan St, Pflugerville, TX 78660
Frequently Asked Questions
What type of property is this?
Shopping center - Multi-tenant retail/office center with redevelopment potential on 2 acres.
Where is this shopping center located?
The property is located at 1620 Grand Ave Pkwy Pflugerville, TX.
What is the asking price?
The asking price for this property is $5,000,000.
What are key features of this property?
This property features: Prime location on a high‑traffic corner in a major commercial corridor.; Excellent signage, access, and visibility on Grand Avenue Parkway and Central Commerce Drive.; Long‑term tenants with sound credit.
