Live-Work Office Redevelopment
For Sale
$345,000
2024 Ben White BLVD, Austin, TX 78704
A 1,014 sq ft existing structure on a 0.175-acre lot with access to major South Austin thoroughfares.
Property Size1,014 SF
Lot Size0.18 Acres
Price / SF$340.24
Days on Market61
Property Features for 2024 Ben White BLVD
General Information
Standard status
Active
Size
1,014 SF
Lot size
0.18 Acres
Property subtype
General Commercial
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$9,692
Amenities
3
Driveway.
Building Details
Year Built
1954
Listing Agency:
(512) 630-0306
Listed By:
Rivet Real Estate · License #0622318
(512) 630-0306
Source:
Xome
Added: Jun 27
Changed: Aug 25
Last Checked: Aug 26 at 6:38AM
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 Rivet Real Estate
Investment Insights
Based on property information with market context.
This property offers an existing 1,014 sq ft structure on an approximately 0.175-acre lot, suited for flexible occupancy and potential redevelopment planning. The asset is presented for options including office conversion, live/work use (subject to zoning), continued occupancy, or redevelopment while future improvements are considered. Buyers are encouraged to verify zoning, permitted uses, and redevelopment opportunities with the City of Austin.
Located at 2024 W Ben White Blvd in South Austin, the property provides convenient access to major thoroughfares including Highway 290, Highway 71, and IH-35. The listing notes the property is minutes from Downtown Austin and Austin-Bergstrom International Airport, with nearby retail centers and restaurants. WalkScore is reported as 74 (Very Walkable), bikeScore 83 (Very Bikeable), and transitScore 46 (Some Transit).
Located at 2024 W Ben White Blvd in South Austin, the property provides convenient access to major thoroughfares including Highway 290, Highway 71, and IH-35. The listing notes the property is minutes from Downtown Austin and Austin-Bergstrom International Airport, with nearby retail centers and restaurants. WalkScore is reported as 74 (Very Walkable), bikeScore 83 (Very Bikeable), and transitScore 46 (Some Transit).
Key Highlights
- 1,014 sq ft existing structure on an approximately 0.175‑acre lot (Year built: 1954)
- Flexible space for office conversion, live/work use (subject to zoning), redevelopment, or continued occupancy
- Easy access to major thoroughfares including Hwy 290, Hwy 71, and IH‑35
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
$16,731
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
4.85%
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%
$334,620
$334.6K
Cap Rate 7%
$239,014
$239.0K
Cap Rate 9%
$185,900
$185.9K
Market Conditions
NOI Build-Up for 1,014 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
$30.4K $30.00/SF
− Vacancy
−$3.7K −$3.60/SF
EGI
$26.8K $26.40/SF
− OpEx
−$10.0K −$9.90/SF
NOI
$16.7K $16.50/SF
Area
ZIP 78704
Vacancy
12.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
37.50%
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%
$334,620
Cap Rate 7%
$239,014
Cap Rate 9%
$185,900
Alternative Uses
Best Use
Mixed Use
$239.0K
$209.1K – $278.9K
NOI $16,731 @ 7.0% cap · market cap 4.85%
Second Best
Office B
$228.5K
$199.9K – $266.6K
NOI $15,993 @ 7.0% cap · market cap 4.64%
Theoretical Best
Office A
$422.8K
$370.0K – $493.3K
NOI $29,599 @ 7.0% cap · market cap 8.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,761
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Live-work space - A 1,014 sq ft existing structure on a 0.175-acre lot with access to major South Austin thoroughfares.
Where is this live-work space located?
The property is located at 2024 Ben White BLVD Austin, TX.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: 1,014 sq ft existing structure on an approximately 0.175‑acre lot (Year built: 1954); Flexible space for office conversion, live/work use (subject to zoning), redevelopment, or continued occupancy; Easy access to major thoroughfares including Hwy 290, Hwy 71, and IH‑35
