Two-Story Flex Space with
For Sale
$745,000
2000 Windy TER # 21A, Cedar Park, TX 78613
Two-level commercial layout combines finished offices with warehouse functionality and a grade-level roll-up door.
Property Size3,555 SF
Days on Market155
Property Features for 2000 Windy TER # 21A
General Information
Standard status
Active
Size
3,555 SF
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$12,125
Building Details
Building Size
3,555 SF
Year Built
2015
Listing Agency:
Christies Intl Real Estate Lone Star
(970) 778-7026
Listed By:
Bradley Baker
Source:
Localcolorrealestateaustin
Added: Mar 31
Changed: Aug 31
Last Checked: Aug 30 at 11:43PM
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 Christies Intl Real Estate Lone Star
Investment Insights
Based on property information with market context.
Built in 2015, this ±3,555 SF two-story flex property pairs finished office improvements with practical warehouse space. Approximately 800 SF is dedicated to the warehouse area, which includes a grade-level roll-up door and epoxy flooring. The office component features multiple private offices, conference space, two kitchenettes, and upgraded interior finishes.
A private outdoor deck shaded by mature oak trees adds usable exterior space. The property is located in Cedar Park near Lakeline Mall, the Bell District redevelopment, and The Domain. Its two-level configuration can support a single business operation or separate occupancy arrangements, subject to applicable requirements.
A private outdoor deck shaded by mature oak trees adds usable exterior space. The property is located in Cedar Park near Lakeline Mall, the Bell District redevelopment, and The Domain. Its two-level configuration can support a single business operation or separate occupancy arrangements, subject to applicable requirements.
Key Highlights
- ±3,555 SF two‑story flex property built in 2015
- Approximately 800 SF of warehouse space
- Grade‑level roll‑up door and epoxy warehouse flooring
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
$35,791
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
4.80%
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%
$715,820
$715.8K
Cap Rate 7%
$511,300
$511.3K
Cap Rate 9%
$397,678
$397.7K
Market Conditions
NOI Build-Up for 3,555 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
$52.9K $14.88/SF
− Vacancy
−$10.8K −$3.04/SF
EGI
$42.1K $11.84/SF
− OpEx
−$6.3K −$1.78/SF
NOI
$35.8K $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%
$715,820
Cap Rate 7%
$511,300
Cap Rate 9%
$397,678
Alternative Uses
Best Use
Office B
$1.21M
$1.06M – $1.41M
NOI $84,771 @ 7.0% cap · market cap 11.38%
Second Best
Warehouse
$511.3K
$447.4K – $596.5K
NOI $35,791 @ 7.0% cap · market cap 4.80%
Theoretical Best
Office A
$1.49M
$1.30M – $1.73M
NOI $104,026 @ 7.0% cap · market cap 13.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
430
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78613, TX
89,279
Population
34,198
Households
2.6
Avg Household Size
36
Median Age
55%
College-Educated
97%
High-School Grad
27.7 sq mi
ZIP Area
3,223
Density / Sq Mi
$120,829
Median Household Income
$61,782
Median Earnings
$1,733
Median Rent
$461,900
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?
Flex space - Two-level commercial layout combines finished offices with warehouse functionality and a grade-level roll-up door.
Where is this flex space located?
The property is located at 2000 Windy TER # 21A Cedar Park, TX.
What is the asking price?
The asking price for this property is $745,000.
What are key features of this property?
This property features: ±3,555 SF two‑story flex property built in 2015; Approximately 800 SF of warehouse space; Grade‑level roll‑up door and epoxy warehouse flooring
