Two-Suite Flex Warehouse
For Sale
$1,825,000
17-15210 Fitzhugh Road, Austin, TX 78736
Two-suite warehouse flex condo with high-clear space, mezzanine offices, and grade-level loading.
Property Size7,500 SF
Price / SF$243.33
Days on Market69
Property Features for 17-15210 Fitzhugh Road
General Information
Standard status
Active
Size
7,500 SF
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$6,842
Building Details
Tenancy
Multi
Listing Agency:
eXp Realty LLC
(888) 519-7431
Listed By:
Eugene Batson
(512) 909-5080
Source:
Exprealty
Added: Jun 29
Changed: Aug 20
Last Checked: Sep 4 at 2:05PM
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 eXp Realty LLC
Investment Insights
Based on property information with market context.
This newer two-suite commercial condo is designed for owner-users and investors, with Suite 1400 available and Suite 1401 currently leased through February 2028. The property includes high-clear warehouse areas, a mezzanine office buildout, and grade-level loading, supported by concrete drive and parking areas. In addition, there is an extra side parking/yard area and a pump house/storage structure included in the approximately 7,500 SF total per the owner.
The asset is located within Fitzhugh Town Center Condominiums and offers convenient access to US-290 and Hwy 71, near Dripping Springs and southwest Austin. The fit between the two suites also supports an operational approach where an owner-user can occupy Suite 1400 while maintaining scheduled income from the adjacent leased space.
Buyer to independently verify all square footage, lease details, use, restrictions, taxes, utilities, parking/yard rights, and condo association information.
The asset is located within Fitzhugh Town Center Condominiums and offers convenient access to US-290 and Hwy 71, near Dripping Springs and southwest Austin. The fit between the two suites also supports an operational approach where an owner-user can occupy Suite 1400 while maintaining scheduled income from the adjacent leased space.
Buyer to independently verify all square footage, lease details, use, restrictions, taxes, utilities, parking/yard rights, and condo association information.
Key Highlights
- Newer two‑suite commercial condo in Fitzhugh Town Center Condominiums: occupy Suite 1400 and receive leased income from Suite 1401
- Suite 1401 is leased through February 2028, providing scheduled income while Suite 1400 is available for an owner‑user or new tenant
- Approximately 7,500 SF total per owner, including the pump house/storage structure (buyer to verify square footage)
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
$81,485
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
4.46%
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%
$1,629,700
$1.6M
Cap Rate 7%
$1,164,071
$1.2M
Cap Rate 9%
$905,389
$905.4K
Market Conditions
NOI Build-Up for 7,500 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
$111.6K $14.88/SF
− Vacancy
−$15.7K −$2.10/SF
EGI
$95.9K $12.78/SF
− OpEx
−$14.4K −$1.92/SF
NOI
$81.5K $10.86/SF
Area
Austin, TX
Vacancy
14.10%
Lease Rate
$14.88 /SF/Yr
Expense Ratio
15.00%
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%
$1,629,700
Cap Rate 7%
$1,164,071
Cap Rate 9%
$905,389
Alternative Uses
Best Use
Warehouse
$1.16M
$1.02M – $1.36M
NOI $81,485 @ 7.0% cap · market cap 4.46%
Second Best
Industrial
$958.6K
$838.8K – $1.12M
NOI $67,105 @ 7.0% cap · market cap 3.68%
Theoretical Best
Office A
$2.94M
$2.57M – $3.43M
NOI $205,730 @ 7.0% cap · market cap 11.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
93
Businesses Nearby
Well-served
Demand for This Use
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 Industrial in Austin, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Two-suite warehouse flex condo with high-clear space, mezzanine offices, and grade-level loading.
Where is this flex space located?
The property is located at 17-15210 Fitzhugh Road Austin, TX.
What is the asking price?
The asking price for this property is $1,825,000.
What are key features of this property?
This property features: Newer two‑suite commercial condo in Fitzhugh Town Center Condominiums: occupy Suite 1400 and receive leased income from Suite 1401; Suite 1401 is leased through February 2028, providing scheduled income while Suite 1400 is available for an owner‑user or new tenant; Approximately 7,500 SF total per owner, including the pump house/storage structure (buyer to verify square footage)
