Freestanding Building on Rivery
For Sale
Contact for pricing
1623 Rivery Blvd, Georgetown, TX
Freestanding 3,071 SF building in a fantastic location.
Property Size3,071 SF
Lot Size0.43 Acres
Price / SF$483.56
Days on Market271
Property Features for 1623 Rivery Blvd
General Information
Standard status
Active
Size
3,071 SF
Lot size
0.43 Acres
Property subtype
OFFICE
Listing Agency:
The Novy Company
(512) 750-5587
Listed By:
Brian Novy · License #255097
Source:
Moodyscre
Added: Nov 6, 2025
Changed: Jul 6
Last Checked: Jul 21 at 3:56AM
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 The Novy Company
Investment Insights
Based on property information with market context.
This is a freestanding 3,071 square foot building located on Rivery Blvd. The property benefits from its location within the Rivery Development and proximity to Williams Drive. The property is subject to a sale-leaseback agreement with Republic Spine and Pain (RSP), which commenced business in 2010. The lease originated on January 1, 2022, and expires on January 31, 2036. The base rent starting January 1, 2026, is $7878.56 plus NNN, with 3% annual increases. The landlord is responsible for the roof, structure, and parking lot.
Key Highlights
- Long‑term lease with Republic Spine and Pain (RSP) until 1/31/36, providing stable income.
- Prime location on Rivery Blvd within the Rivery Development and near Williams Drive.
- Sale‑leaseback opportunity for immediate return on investment.
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $129.0k | $42.00 |
| − Vacancy | −$31.3k | −$10.21 |
| EGI | $97.6k | $31.79 |
| − OpEx | −$24.4k | −$7.95 |
| NOI | $73.2k | $23.85 |
3,071 SF · lease $42.00/SF/yr · vacancy 24.30% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.05M
$915.4K – $1.22M
NOI $73,230 @ 7.0% cap · market cap 4.93%
Second Best
Healthcare Medical
$796.0K
$696.5K – $928.7K
NOI $55,720 @ 7.0% cap · market cap 3.75%
Theoretical Best
Office A
$1.28M
$1.12M – $1.50M
NOI $89,863 @ 7.0% cap · market cap 6.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
861
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Freestanding 3,071 SF building in a fantastic location.
Where is this medical office space located?
The property is located at 1623 Rivery Blvd Georgetown, TX.
What is the asking price?
The asking price for this property is $1,485,000.
What are key features of this property?
This property features: Long‑term lease with Republic Spine and Pain (RSP) until 1/31/36, providing stable income.; Prime location on Rivery Blvd within the Rivery Development and near Williams Drive.; Sale‑leaseback opportunity for immediate return on investment.
