Stand-Alone Office
New
For Sale
$2,350,000
1823 Fortview Rd, Austin, TX 78704
Limited Office-zoned property with multi-suite configuration, on-site parking, solar panels, and Google Fiber service.
Property Size8,252 SF
Lot Size0.51 Acres
Price / SF$284.78
Days on Market2
Property Features for 1823 Fortview Rd
General Information
Standard status
Active
Size
8,252 SF
Total Parking Spaces
29
Lot size
0.51 Acres
Zoning
LO
Additional Details
Road Access
Yes
Office Units
16
Amenities
solar panels
Google Fiber
water fountains
landscaping
Building Details
Year Built
1985
Buildings
1
Building Size
8,252 SF
Tenancy
Multi
Parking Ratio
3.33 per 1,000 SF
Listing Agency:
Trevor Benz Dickens
Listed By:
Trevor Dickens
(512) 656-2903
Source:
Mlsluxurygroup
Added: Sep 5
Last Checked: Sep 5 at 2:49PM
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 Trevor Benz Dickens
Investment Insights
Based on property information with market context.
This stand-alone office building contains 8,252 square feet and is configured with 16 office suites leased on a triple-net basis. Several suites are occupied on month-to-month terms, while the longest stated lease term extends through 4/30/25. The 0.509-acre site is zoned Limited Office (LO) under the City of Austin’s Zoning Profile GIS.
The parking lot provides 28 spaces plus 1 handicap space, representing an approximate 1:300 parking ratio. Solar panels are installed on the roof to offset electricity demand, and Google Fiber provides data service. Most HVAC units have been replaced over the past decade. Since 2019, property improvements have included interior and exterior painting, bathroom renovations, lighting upgrades, driveway repair, flooring updates, awning replacement, new water fountains, and landscaping work.
The parking lot provides 28 spaces plus 1 handicap space, representing an approximate 1:300 parking ratio. Solar panels are installed on the roof to offset electricity demand, and Google Fiber provides data service. Most HVAC units have been replaced over the past decade. Since 2019, property improvements have included interior and exterior painting, bathroom renovations, lighting upgrades, driveway repair, flooring updates, awning replacement, new water fountains, and landscaping work.
Key Highlights
- 8,252‑square‑foot stand‑alone office building
- 16 office suites leased on a triple‑net basis
- 0.509‑acre site with Limited Office (LO) zoning
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
$130,155
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
5.54%
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%
$2,603,100
$2.6M
Cap Rate 7%
$1,859,357
$1.9M
Cap Rate 9%
$1,446,167
$1.4M
Market Conditions
NOI Build-Up for 8,252 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
$247.6K $30.00/SF
− Vacancy
−$74.0K −$8.97/SF
EGI
$173.5K $21.03/SF
− OpEx
−$43.4K −$5.26/SF
NOI
$130.2K $15.77/SF
Area
ZIP 78704
Vacancy
29.90%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
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%
$2,603,100
Cap Rate 7%
$1,859,357
Cap Rate 9%
$1,446,167
Alternative Uses
Best Use
Office B
$1.86M
$1.63M – $2.17M
NOI $130,155 @ 7.0% cap · market cap 5.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.44M
$3.01M – $4.01M
NOI $240,875 @ 7.0% cap · market cap 10.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16
Office units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,809
Businesses Nearby
Explore this area
Business Placement
Demographics for 78704, TX
49,197
Population
29,959
Households
1.6
Avg Household Size
34
Median Age
70%
College-Educated
94%
High-School Grad
8.8 sq mi
ZIP Area
5,591
Density / Sq Mi
$97,160
Median Household Income
$67,527
Median Earnings
$1,755
Median Rent
$862,000
Median Home Value
Market
Vacancy Rate% for Office in Austin, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Limited Office-zoned property with multi-suite configuration, on-site parking, solar panels, and Google Fiber service.
Where is this office building located?
The property is located at 1823 Fortview Rd Austin, TX.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: 8,252‑square‑foot stand‑alone office building; 16 office suites leased on a triple‑net basis; 0.509‑acre site with Limited Office (LO) zoning
