Medical Office NNN
2005 N Lakeline Blvd Cedar Park, TX 78613
2005 N Lakeline Blvd, Cedar Park, TX, 78613
$3,150,000
For Sale
$3,150,000
Turnkey medical office investment built in 2018, fully leased to two practices under 5+ year NNN terms.
Property Size6,573 SF
Price / SF$479.23
Days on Market90
Property Features for 2005 N Lakeline Blvd
General Information
- Standard status
- Active
- Size
- 6,573 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 2017
Listing agency
(512) 913-7480
Listed by
Jeffrey Schnabel
(512) 913-7480
Source
Elliman
Added: Apr 24 Updated: Jul 22 at 12:36AM Checked: Jul 22 at 12:36AM
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 Jeffrey Schnabel
Investment Insights
Based on property information with market context.
This turnkey medical office property was constructed in 2018 and totals 6,573 SF. The building is fully leased to two established medical practices, a rheumatology group and an orthodontics practice, each carrying 5+ year NNN lease terms.
Located at 2005 N Lakeline Blvd in Cedar Park, the property sits on a highly visible hard corner on 1+ acres with reported 18K+ vehicles daily. The surrounding context described in the remarks includes proximity to dense residential neighborhoods, senior housing, and local demand drivers for long-term tenancy.
With 100% occupancy and stabilized operations as presented in the materials, the property is offered as a NNN investment with built-in scheduled rent growth as historically underwritten in the lease structure.
Located at 2005 N Lakeline Blvd in Cedar Park, the property sits on a highly visible hard corner on 1+ acres with reported 18K+ vehicles daily. The surrounding context described in the remarks includes proximity to dense residential neighborhoods, senior housing, and local demand drivers for long-term tenancy.
With 100% occupancy and stabilized operations as presented in the materials, the property is offered as a NNN investment with built-in scheduled rent growth as historically underwritten in the lease structure.
Key Highlights
- Medical office investment built in 2017 (constructed 2018) and fully leased to two established medical practices
- 6,573 SF building on a 1+ AC hard corner with high visibility and 18K+ vehicles daily
- 5+ year NNN lease terms with both tenants having 5+ year terms
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $276.1k | $42.00 |
| − Vacancy | −$67.1k | −$10.21 |
| EGI | $209.0k | $31.79 |
| − OpEx | −$52.2k | −$7.95 |
| NOI | $156.7k | $23.85 |
6,573 SF · lease $42.00/SF/yr · vacancy 24.30% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.24M
$1.96M – $2.61M
NOI $156,736 @ 7.0% cap · market cap 4.98%
Second Best
Healthcare Medical
$1.70M
$1.49M – $1.99M
NOI $119,261 @ 7.0% cap · market cap 3.79%
Theoretical Best
Office A
$2.75M
$2.40M – $3.21M
NOI $192,338 @ 7.0% cap · market cap 6.11%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Freedom Orthodontics
Dental Office
Dr. Brendan Smith
Dental Office
Central Texas Rheumatology ...
Medical Clinic
Jimenez Inc
Big Box & Wholesale Store
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FAQs
What type of property is this?
Medical Office Space - Turnkey medical office investment built in 2018, fully leased to two practices under 5+ year NNN terms.
Where is this medical office space located?
The property is located at 2005 N Lakeline Blvd Cedar Park, TX.
What is the asking price?
The asking price for this property is $3,150,000.
What are key features of this property?
This property features: Medical office investment built in 2017 (constructed 2018) and fully leased to two established medical practices; 6,573 SF building on a 1+ AC hard corner with high visibility and 18K+ vehicles daily; 5+ year NNN lease terms with both tenants having 5+ year terms
