Mixed-Use Property with Commercial
New
For Sale
$599,000
1702 Lone Oak DR, Leander, TX 78641
Flexible residential and commercial improvements with separate entrances, office space, and utility service for varied occupancy needs.
Property Size2,736 SF
Price / SF$218.93
Days on Market6
Property Features for 1702 Lone Oak DR
General Information
Standard status
Active
Size
2,736 SF
Property subtype
Mixed Use
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$9,855
Amenities
Central Air, Electric, Ceiling Fan(s)
3
Parking.
6 Parking Spaces. Driveway, Open Parking, Outside.
Building Details
Year Built
1970
Listing Agency:
Watters International Realty
(512) 646-0038
Listed By:
Christopher Watters · License #0567369
(512) 737-8480
Source:
Xome
Added: Aug 31
Changed: Sep 5
Last Checked: Sep 5 at 3:08PM
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 Watters International Realty
Investment Insights
Based on property information with market context.
This mixed-use property at 1702 Lone Oak DR combines a 2,736-square-foot single-story residence with an attached apartment-style addition and a separate commercial garage. Built in 1970, the home includes three bedrooms, two fireplaces, ceramic tile flooring, a kitchen with appliances, and a two-car garage. The connected addition has its own exterior entry, a bedroom, full bathroom with shower, two offices, and a game room. The residence and garage both have 240V power, while the garage also has a separate electric meter.
The property spans three combined lots near Highway 183 and Crystal Falls Parkway, with frontage along Crystal Falls Parkway and mature oak trees. There is no HOA. Exterior parking includes six spaces, with driveway and open parking areas. The site also includes central air and a commercial garage suitable for business operations or additional workspace.
The property spans three combined lots near Highway 183 and Crystal Falls Parkway, with frontage along Crystal Falls Parkway and mature oak trees. There is no HOA. Exterior parking includes six spaces, with driveway and open parking areas. The site also includes central air and a commercial garage suitable for business operations or additional workspace.
Key Highlights
- Mixed‑use property at 1702 Lone Oak DR near Highway 183 and Crystal Falls Parkway
- 2,736 SF property built in 1970 across three combined lots
- Separate commercial garage with 240V power and its own electric meter
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
$36,936
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
6.17%
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%
$738,720
$738.7K
Cap Rate 7%
$527,657
$527.7K
Cap Rate 9%
$410,400
$410.4K
Market Conditions
NOI Build-Up for 2,736 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
$65.7K $24.00/SF
− Vacancy
−$6.6K −$2.40/SF
EGI
$59.1K $21.60/SF
− OpEx
−$22.2K −$8.10/SF
NOI
$36.9K $13.50/SF
Area
Travis County, TX
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$738,720
Cap Rate 7%
$527,657
Cap Rate 9%
$410,400
Alternative Uses
Best Use
Office B
$932.0K
$815.5K – $1.09M
NOI $65,241 @ 7.0% cap · market cap 10.89%
Second Best
Mixed Use
$527.7K
$461.7K – $615.6K
NOI $36,936 @ 7.0% cap · market cap 6.17%
Theoretical Best
Office A
$1.14M
$1.00M – $1.33M
NOI $80,060 @ 7.0% cap · market cap 13.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
550
Businesses Nearby
Explore this area
Business Placement
Demographics for 78641, TX
83,426
Population
33,118
Households
2.5
Avg Household Size
36
Median Age
51%
College-Educated
95%
High-School Grad
124.4 sq mi
ZIP Area
671
Density / Sq Mi
$131,421
Median Household Income
$61,185
Median Earnings
$1,873
Median Rent
$453,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Flexible residential and commercial improvements with separate entrances, office space, and utility service for varied occupancy needs.
Where is this mixed-use property located?
The property is located at 1702 Lone Oak DR Leander, TX.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Mixed‑use property at 1702 Lone Oak DR near Highway 183 and Crystal Falls Parkway; 2,736 SF property built in 1970 across three combined lots; Separate commercial garage with 240V power and its own electric meter
