Two-Story Flex
For Sale
$745,000
21a-2000 Windy Ter, Cedar Park, TX 78613
Private offices, conference space, and two kitchenettes create a move-in-ready commercial layout.
Property Size3,555 SF
Price / SF$209.56
Days on Market169
Property Features for 21a-2000 Windy Ter
General Information
Standard status
Active
Size
3,555 SF
Warehouse & Industrial
Warehouse Space
800 SF
Drive-In Doors
1
Additional Details
Asking Price
$775,000
Taxes and HOA fees
Annual Taxes
$12,125
Amenities
private outdoor deck
private offices
conference space
kitchenettes
Building Details
Buildings
1
Stories
2
Building Size
3,555 SF
Listing Agency:
Christies Intl Real Estate Lone Star
(512) 270-8586
Listed By:
Bradley Baker
(970) 778-7026
Source:
Exprealty
Added: Mar 31
Changed: Sep 15
Last Checked: Sep 15 at 11:27AM
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 Christies Intl Real Estate Lone Star
Investment Insights
Based on property information with market context.
This ±3,555 SF two-story flex property combines approximately 800 SF of warehouse space with private offices, conference space, two kitchenettes, and upgraded office finishes. The warehouse area includes a grade-level roll-up door and epoxy floors. A private outdoor deck shaded by mature oak trees adds an additional on-site amenity. The two-level floorplan can function as a single headquarters, support an owner-user with supplemental rental income, or accommodate separate tenants.
Located at 21a-2000 Windy Ter in Cedar Park, the property is within minutes of Lakeline Mall, the Bell District redevelopment, and The Domain. An estimated 7% cap rate is based on conservative market rents.
Located at 21a-2000 Windy Ter in Cedar Park, the property is within minutes of Lakeline Mall, the Bell District redevelopment, and The Domain. An estimated 7% cap rate is based on conservative market rents.
Key Highlights
- ±3,555 SF two‑story flex property
- Approximately 800 SF of warehouse space
- Grade‑level roll‑up door and epoxy warehouse floors
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
$35,791
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
4.80%
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%
$715,820
$715.8K
Cap Rate 7%
$511,300
$511.3K
Cap Rate 9%
$397,678
$397.7K
Market Conditions
NOI Build-Up for 3,555 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
$52.9K $14.88/SF
− Vacancy
−$10.8K −$3.04/SF
EGI
$42.1K $11.84/SF
− OpEx
−$6.3K −$1.78/SF
NOI
$35.8K $10.07/SF
Area
Williamson County, TX
Vacancy
20.40%
Lease Rate
$14.88 /SF/Yr
Expense Ratio
15.00%
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%
$715,820
Cap Rate 7%
$511,300
Cap Rate 9%
$397,678
Alternative Uses
Best Use
Office B
$1.21M
$1.06M – $1.41M
NOI $84,771 @ 7.0% cap · market cap 11.38%
Second Best
Warehouse
$511.3K
$447.4K – $596.5K
NOI $35,791 @ 7.0% cap · market cap 4.80%
Theoretical Best
Office A
$1.49M
$1.30M – $1.73M
NOI $104,026 @ 7.0% cap · market cap 13.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
430
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?
Flex space - Private offices, conference space, and two kitchenettes create a move-in-ready commercial layout.
Where is this flex space located?
The property is located at 21a-2000 Windy Ter Cedar Park, TX.
What is the asking price?
The asking price for this property is $745,000.
What are key features of this property?
This property features: ±3,555 SF two‑story flex property; Approximately 800 SF of warehouse space; Grade‑level roll‑up door and epoxy warehouse floors
