C3-Zoned Warehouse
For Sale
$1,000,000
1940 S Austin Ave, Georgetown, TX 78626
C3 zoning is paired with plans illustrating interior improvements and a possible building addition.
Property Size4,800 SF
Days on Market8
Property Features for 1940 S Austin Ave
General Information
Standard status
Active
Size
4,800 SF
Property subtype
Warehouse
Zoning
C3
Taxes and HOA fees
Annual Taxes
$8,207
Building Details
Building Size
4,800 SF
Year Built
1940
Listing Agency:
Century 21 Stribling Properties
Listed By:
Scott Stribling
(512) 630-7535
Source:
Zellteam
Added: Sep 16
Changed: Sep 18
Last Checked: Sep 22 at 10:08PM
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 Century 21 Stribling Properties
Investment Insights
Based on property information with market context.
This warehouse property was built in 1940 and sits on more than an acre at 1940 S Austin Ave in Georgetown, Texas. The site carries C3 zoning, supporting a commercial redevelopment profile within the city.
A permit set of plans is included to illustrate potential interior improvements and a possible addition to the existing building. The plans provide a framework for evaluating future modifications while preserving flexibility for the property's next configuration.
A permit set of plans is included to illustrate potential interior improvements and a possible addition to the existing building. The plans provide a framework for evaluating future modifications while preserving flexibility for the property's next configuration.
Key Highlights
- C3 zoning in Georgetown
- More than one acre of property
- 1940 construction year
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
$48,325
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
4.83%
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%
$966,500
$966.5K
Cap Rate 7%
$690,357
$690.4K
Cap Rate 9%
$536,944
$536.9K
Market Conditions
NOI Build-Up for 4,800 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
$71.4K $14.88/SF
− Vacancy
−$14.6K −$3.04/SF
EGI
$56.9K $11.84/SF
− OpEx
−$8.5K −$1.78/SF
NOI
$48.3K $10.07/SF
Area
Williamson County, TX
Vacancy
20.40%
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%
$966,500
Cap Rate 7%
$690,357
Cap Rate 9%
$536,944
Alternative Uses
Best Use
Warehouse
$690.4K
$604.1K – $805.4K
NOI $48,325 @ 7.0% cap · market cap 4.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.01M
$1.76M – $2.34M
NOI $140,456 @ 7.0% cap · market cap 14.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,376
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 78626, TX
39,935
Population
16,866
Households
2.4
Avg Household Size
34
Median Age
36%
College-Educated
90%
High-School Grad
88.6 sq mi
ZIP Area
451
Density / Sq Mi
$94,967
Median Household Income
$44,955
Median Earnings
$1,752
Median Rent
$358,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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- Hometown Self Storage — 401 W 21st St, Georgetown, TX 78626
Frequently Asked Questions
What type of property is this?
Warehouse - C3 zoning is paired with plans illustrating interior improvements and a possible building addition.
Where is this warehouse located?
The property is located at 1940 S Austin Ave Georgetown, TX.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: C3 zoning in Georgetown; More than one acre of property; 1940 construction year
