Ground-Floor Live-Work Office
For Sale
Contact for pricing
2209 South 1st Street, Austin, TX 78704
Street-level storefront access and a dedicated rear entry create flexible space for business use and live-work setups.
Property Size1,390 SF
Price / SF$464.03
Days on Market86
Property Features for 2209 South 1st Street
General Information
Standard status
Active
Size
1,390 SF
Total Parking Spaces
1
Property subtype
Multifamily, Office
Zoning
CS-MU-V-CO-NP
Building Details
Year Built
2025
Units
1
Listed By:
Danielle Baasch
Source:
Crexi
Added: Jun 15
Changed: Sep 6
Last Checked: Sep 7 at 5:02AM
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 Danielle Baasch
Investment Insights
Based on property information with market context.
Suite 105 is a 1,390-square-foot office/live-work condominium within the modern One Oak development, delivered as-is and designed for tenant customization. The ground-floor storefront location is built for direct walk-up access and benefits from abundant natural light. A dedicated rear entrance supports streamlined operations and staff access, while an on-site storage unit adds convenience for day-to-day needs. The property also includes one reserved parking space.
Situated along South 1st Street in Austin’s 78704 area, this suite offers immediate proximity to South Congress and Downtown Austin, with access to Lady Bird Lake and major transportation corridors. The surrounding area includes popular restaurants, coffee shops, retail destinations, and entertainment venues, supporting a walkable customer and employee environment.
This configuration fits owner-users and teams seeking a visible, adaptable live-work or office arrangement in a condominium setting. With street-level entry, natural light, and both front and rear access, the suite can be laid out to support a client-facing business while also accommodating live-work programming. Residents and occupants also have access to One Oak amenities, including a fitness center, resort-style pool, resident lounge, and outdoor gathering spaces.
Situated along South 1st Street in Austin’s 78704 area, this suite offers immediate proximity to South Congress and Downtown Austin, with access to Lady Bird Lake and major transportation corridors. The surrounding area includes popular restaurants, coffee shops, retail destinations, and entertainment venues, supporting a walkable customer and employee environment.
This configuration fits owner-users and teams seeking a visible, adaptable live-work or office arrangement in a condominium setting. With street-level entry, natural light, and both front and rear access, the suite can be laid out to support a client-facing business while also accommodating live-work programming. Residents and occupants also have access to One Oak amenities, including a fitness center, resort-style pool, resident lounge, and outdoor gathering spaces.
Key Highlights
- Office/live‑work condo suite with 1,390 SF of flexible space in Austin’s One Oak development (78704)
- Street‑level ground‑floor storefront with direct walk‑up access and abundant natural light
- Dedicated rear entrance for streamlined operations and staff access
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
$22,935
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
3.56%
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%
$458,700
$458.7K
Cap Rate 7%
$327,643
$327.6K
Cap Rate 9%
$254,833
$254.8K
Market Conditions
NOI Build-Up for 1,390 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
$41.7K $30.00/SF
− Vacancy
−$5.0K −$3.60/SF
EGI
$36.7K $26.40/SF
− OpEx
−$13.8K −$9.90/SF
NOI
$22.9K $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%
$458,700
Cap Rate 7%
$327,643
Cap Rate 9%
$254,833
Alternative Uses
Best Use
Mixed Use
$327.6K
$286.7K – $382.3K
NOI $22,935 @ 7.0% cap · market cap 3.56%
Second Best
Office B
$313.2K
$274.1K – $365.4K
NOI $21,924 @ 7.0% cap · market cap 3.40%
Theoretical Best
Office A
$579.6K
$507.2K – $676.2K
NOI $40,574 @ 7.0% cap · market cap 6.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,774
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
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Frequently Asked Questions
What type of property is this?
Live-work space - Street-level storefront access and a dedicated rear entry create flexible space for business use and live-work setups.
Where is this live-work space located?
The property is located at 2209 South 1st Street Austin, TX.
What is the asking price?
The asking price for this property is $645,000.
What are key features of this property?
This property features: Office/live‑work condo suite with 1,390 SF of flexible space in Austin’s One Oak development (78704); Street‑level ground‑floor storefront with direct walk‑up access and abundant natural light; Dedicated rear entrance for streamlined operations and staff access
