Medical Office NNN
For Sale
$3,150,000
2005 N Lakeline Blvd, Cedar Park, TX 78613
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 Market364
Property Features for 2005 N Lakeline Blvd
General Information
Standard status
Active
Size
6,573 SF
Property subtype
Office
Occupancy
100%
Additional Details
Cap Rate
6.62%
Traffic Count
18,000 vehicles/day
Amenities
Central Air, Heat Pump
3
Parking.
33 Parking Spaces. Private, Paved Driveway, Shared Driveway, Lot.
Security Lighting.
Building Details
Year Built
2017
Tenancy
Multi
Listing Agency:
Compass RE Texas, LLC
(512) 575-3644
Listed By:
Sasha Lifschitz · License #0661645
(512) 924-6491
Source:
Xome
Added: Sep 7, 2025
Changed: Sep 4
Last Checked: Sep 5 at 4:58AM
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 Compass RE Texas, LLC
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
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
$156,736
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
4.98%
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%
$3,134,720
$3.1M
Cap Rate 7%
$2,239,086
$2.2M
Cap Rate 9%
$1,741,511
$1.7M
Market Conditions
NOI Build-Up for 6,573 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
$276.1K $42.00/SF
− Vacancy
−$67.1K −$10.21/SF
EGI
$209.0K $31.79/SF
− OpEx
−$52.2K −$7.95/SF
NOI
$156.7K $23.85/SF
Area
Williamson County, TX
Vacancy
24.30%
Lease Rate
$42.00 /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%
$3,134,720
Cap Rate 7%
$2,239,086
Cap Rate 9%
$1,741,511
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 authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18,000 VPD
Traffic count
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
289
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?
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
