Renovated Medical
For Sale
$699,000
20308 Dawn Drive, Lago Vista, TX 78645
CommercialSale, Lago Vista, TX
Property Size1,725 SF
Lot Size0.39 Acres
Price / SF$405.22
Days on Market53
Property Features for 20308 Dawn Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Garage, Special Needs
Subdivision
Lago Vista Sec 02
Lot features
City Lot, Quarter To Half Acre Lot
Elementary school district
Lago Vista ISD
Middle school district
Lago Vista ISD
High school district
Lago Vista ISD
Directions
From the intersection of Lohman Ford and 1431, Head south on Lohman Ford. Turn right onto Dawn Drive, business is on the right
Standard status
Active
APN
177826
Size
1,725 SF
Lot size
0.39 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
LOT 5 BLK E LAGO VISTA SEC 2
Tax Annual Amount
4713
Legal Description
LOT 5 BLK E LAGO VISTA SEC 2
Utilities
Heating system
Central
Cooling system
Electric, Central Air
Water source
Public
Amenities
kitchenette with coffee bar
covered breezeway
detached garage
fenced backyard
multiple private treatment rooms or offices
updated restrooms
Building Details
Year built
1983
Floors in Building
1
Flooring type
Vinyl
Building materials
Brick, HardiplankType
Listing Agency:
Vance J. Elliott
(512) 353-3002
Listed By:
Cari Patterson · License #0416464
(512) 423-0698
Added: Jul 1
Changed: Aug 20
Last Checked: Aug 22 at 6:06AM
MLS# 618368
Copyright © 2026 Central Texas Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,725-square-foot medical office property includes a reception and waiting area, multiple private treatment rooms or offices, two restrooms, a kitchenette with coffee bar, storage, and a detached garage. The building has vinyl flooring, central heating, electric cooling, central air, brick and HardiplankType construction, and an additional HVAC system. Interior upgrades include refreshed lighting, ceiling fans, restroom fixtures, flooring, and paint.
Set at 20308 Dawn Drive in Lago Vista, the property is across from Lago Vista Elementary School and near City Hall, the Police Department, the Library, the POA Office, and the Hope Center. A private parking lot provides about 20 spaces, while the covered breezeway and fenced backyard add functional support areas.
Set at 20308 Dawn Drive in Lago Vista, the property is across from Lago Vista Elementary School and near City Hall, the Police Department, the Library, the POA Office, and the Hope Center. A private parking lot provides about 20 spaces, while the covered breezeway and fenced backyard add functional support areas.
Key Highlights
- 1,725 square feet on a 0.3902‑acre site
- About 20 spaces in a newly added private parking lot
- Multiple private treatment rooms or offices with reception and waiting area
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
$41,133
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
5.88%
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%
$822,660
$822.7K
Cap Rate 7%
$587,614
$587.6K
Cap Rate 9%
$457,033
$457.0K
Market Conditions
NOI Build-Up for 1,725 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
$72.5K $42.00/SF
− Vacancy
−$17.6K −$10.21/SF
EGI
$54.8K $31.79/SF
− OpEx
−$13.7K −$7.95/SF
NOI
$41.1K $23.85/SF
Area
Travis 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%
$822,660
Cap Rate 7%
$587,614
Cap Rate 9%
$457,033
Alternative Uses
Best Use
Office B
$587.6K
$514.2K – $685.6K
NOI $41,133 @ 7.0% cap · market cap 5.88%
Second Best
Healthcare Medical
$447.1K
$391.2K – $521.6K
NOI $31,298 @ 7.0% cap · market cap 4.48%
Theoretical Best
Office A
$721.1K
$631.0K – $841.3K
NOI $50,477 @ 7.0% cap · market cap 7.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
80
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78645, TX
14,051
Population
7,525
Households
1.9
Avg Household Size
50
Median Age
45%
College-Educated
96%
High-School Grad
32.5 sq mi
ZIP Area
432
Density / Sq Mi
$108,393
Median Household Income
$59,128
Median Earnings
$1,455
Median Rent
$387,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Renovated commercial suite offers private treatment rooms, two restrooms, a kitchenette, storage, and a detached garage.
Where is this medical office space located?
The property is located at 20308 Dawn Drive Lago Vista, TX.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 1,725 square feet on a 0.3902‑acre site; About 20 spaces in a newly added private parking lot; Multiple private treatment rooms or offices with reception and waiting area
