Stabilized Retail Center in
For Sale
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1804 Briarcliff Blvd, Austin, TX 78723
Fully leased shopping center with redevelopment potential in North Mueller.
Property Size9,150 SF
Price / SF$333.33
Days on Market199
Property Features for 1804 Briarcliff Blvd
General Information
Standard status
Active
Size
9,150 SF
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Investment Type
Redevelopment
Net Operating Income
$169,589
Building Details
Year Built
1960
Year Renovated
2024
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
Secure Net Lease
(214) 522-7200
Listed By:
Sam House · License #TX 696383
Source:
Crexi
Added: Feb 12
Changed: Aug 8
Last Checked: Jul 23 at 2:59PM
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 Secure Net Lease
Investment Insights
Based on property information with market context.
Gaston Place Shopping Center is a fully stabilized retail property located in the rapidly redeveloping North Mueller submarket of Austin, TX. The property is situated less than a quarter of a mile southwest of the I-35/U.S. 290 intersection and less than 15 minutes from downtown Austin and the Austin airport. The shopping center is positioned less than a block from the Windsor Commons mixed-use multifamily development, which includes 404 residential units and a Class-A retail component. One of Austin’s most sought-after restaurants, Little Deli & Pizzeria, is a tenant and recently invested approximately $1.2 million in its space. The property benefits from below-market rents, with an average base rental rate of $18.94 per square foot, while other tenants in the center currently pay $30.60 per square foot. Nearby shopping centers are asking $38 per square foot, indicating potential for rental increases to meet market rates. The asset also offers potential for vertical redevelopment in the future. The property has a size of 9,150 square feet.
Key Highlights
- Stabilized shopping center in the rapidly redeveloping North Mueller submarket of Austin, TX.
- Below market rents at $18.94 psf offer significant upside to market rates ($30.60-$38 psf).
- Located less than a quarter mile from the I‑35/U.S. 290 intersection, and under 15 minutes from downtown Austin/Austin airport.
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
$161,115
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
5.28%
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%
$3,222,300
$3.2M
Cap Rate 7%
$2,301,643
$2.3M
Cap Rate 9%
$1,790,167
$1.8M
Market Conditions
NOI Build-Up for 9,150 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
$238.3K $26.04/SF
− Vacancy
−$8.1K −$0.89/SF
EGI
$230.2K $25.15/SF
− OpEx
−$69.0K −$7.55/SF
NOI
$161.1K $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%
$3,222,300
Cap Rate 7%
$2,301,643
Cap Rate 9%
$1,790,167
Alternative Uses
Best Use
Retail
$2.30M
$2.01M – $2.69M
NOI $161,115 @ 7.0% cap · market cap 5.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.59M
$3.14M – $4.18M
NOI $250,991 @ 7.0% cap · market cap 8.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
780
Businesses Nearby
38k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 56%
Dining 33%
Apparel 8%
Electronics 2%
Jack in the Box
Dining
11,237 visits/mo
0.4 miles
Shell
Shops & Services
10,471 visits/mo
0.4 miles
Shell
Shops & Services
5,916 visits/mo
0.3 miles
Food Mart
Shops & Services
4,842 visits/mo
0.3 miles
Windsor
Apparel
1,886 visits/mo
0.2 miles
Demographics for 78723, TX
34,522
Population
17,065
Households
2
Avg Household Size
35
Median Age
56%
College-Educated
91%
High-School Grad
7.1 sq mi
ZIP Area
4,862
Density / Sq Mi
$87,978
Median Household Income
$54,769
Median Earnings
$1,478
Median Rent
$513,500
Median Home Value
Market
Vacancy Rate% for Retail in Austin, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Fully leased shopping center with redevelopment potential in North Mueller.
Where is this shopping center located?
The property is located at 1804 Briarcliff Blvd Austin, TX.
What is the asking price?
The asking price for this property is $3,050,000.
What are key features of this property?
This property features: Stabilized shopping center in the rapidly redeveloping North Mueller submarket of Austin, TX.; Below market rents at $18.94 psf offer significant upside to market rates ($30.60-$38 psf).; Located less than a quarter mile from the I‑35/U.S. 290 intersection, and under 15 minutes from downtown Austin/Austin airport.
