Commercial Land with Redevelopment
For Sale
$1,000,000
203 W New Hope Dr, Cedar Park, TX 78613
Three adjacent lots near a high-traffic intersection offer visibility and immediate access to Bell Blvd.
Property Size1,600 SF
Lot Size0.75 Acres
Price / SF$625
Days on Market97
Property Features for 203 W New Hope Dr
General Information
Standard status
Active
Size
1,600 SF
Lot size
0.75 Acres
Site & Location
Traffic Count
6,500 vehicles/day
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1973
Listing Agency:
New Hope Realty Group
Listed By:
Renee Jordan · License #0620042
(512) 800-3454
Source:
Brandyerocca
Added: Jul 18
Changed: Oct 12
Last Checked: Oct 20 at 9:48PM
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 New Hope Realty Group
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Investment Insights
Based on property information with market context.
203 W New Hope Dr in Cedar Park, TX includes three adjacent lots totaling about 3/4 acre, currently occupied by New Hope Realty Group. The property is positioned for redevelopment, with the existing configuration supporting continued use while providing options for future improvements.
The site is located at a high-traffic intersection with strong visibility and immediate access to Bell Blvd (US 183). The area is described as surrounded by mixed-use, retail, and service development, and a convenience store is noted as adjacent to the parcel.
According to the seller’s remarks, the City of Cedar Park has indicated a preference for commercial development serving local residents and families, and the property’s size and location are aligned with the city’s Future Land Use Plan, with rezoning discussions described as already underway.
The site is located at a high-traffic intersection with strong visibility and immediate access to Bell Blvd (US 183). The area is described as surrounded by mixed-use, retail, and service development, and a convenience store is noted as adjacent to the parcel.
According to the seller’s remarks, the City of Cedar Park has indicated a preference for commercial development serving local residents and families, and the property’s size and location are aligned with the city’s Future Land Use Plan, with rezoning discussions described as already underway.
Key Highlights
- Three adjacent lots totaling approximately 3/4 acre at 203 W New Hope Dr
- High‑traffic intersection setting with immediate access to Bell Blvd (US 183)
- Convenience store already adjacent with more than 6,500 people per day
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,173
Cap Rate
2.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$563,460
$563.5K
Cap Rate 7%
$402,471
$402.5K
Cap Rate 9%
$313,033
$313.0K
Market Conditions
NOI Build-Up for 1,600 SF
Gross rent
$41.7K $26.04/SF
− Vacancy
−$1.4K −$0.89/SF
EGI
$40.2K $25.15/SF
− OpEx
−$12.1K −$7.55/SF
NOI
$28.2K $17.61/SF
Area
Williamson County, TX
Vacancy
3.40%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$563,460
Cap Rate 7%
$402,471
Cap Rate 9%
$313,033
Alternative Uses
Best Use
Retail
$402.5K
$352.2K – $469.6K
NOI $28,173 @ 7.0% cap · market cap 2.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$668.8K
$585.2K – $780.3K
NOI $46,819 @ 7.0% cap · market cap 4.68%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
6,500 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
510
Businesses Nearby
114k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 52%
Dining 35%
Home Improvements & Furnishings 13%
QuikTrip
Shops & Services
33,484 visits/mo
0.2 miles
Starbucks
Dining
15,107 visits/mo
0.5 miles
Tractor Supply Co.
Home Improvements & Furnishings
14,923 visits/mo
0.2 miles
HTeaO
Dining
13,350 visits/mo
0.4 miles
SONIC Drive In
Dining
11,657 visits/mo
0.4 miles
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Commercial land - Three adjacent lots near a high-traffic intersection offer visibility and immediate access to Bell Blvd.
Where is this commercial land located?
The property is located at 203 W New Hope Dr Cedar Park, 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: Three adjacent lots totaling approximately 3/4 acre at 203 W New Hope Dr; High‑traffic intersection setting with immediate access to Bell Blvd (US 183); Convenience store already adjacent with more than 6,500 people per day
