Finished Office
For Sale
Contact for pricing
2261 Gattis School Rd #220, Round Rock, TX 78664
A self-contained workspace pairs reception with private offices and dedicated break and restroom areas.
Property Size1,022 SF
Lot Size3.42 Acres
Price / SF$401.17
Days on Market11
Property Features for 2261 Gattis School Rd #220
General Information
Standard status
Active
Size
1,022 SF
Lot size
3.42 Acres
Property subtype
Retail, Office
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Additional Details
Asking Price
$410,000
Building Details
Year Built
2021
Construction
stone and stucco
Listing Agency:
Don Quick & Associates Inc
Listed By:
Shelly Morgan · License #TX 509529-B
(512) 814-1825
Source:
Crexi
Added: Sep 17
Changed: Sep 24
Last Checked: Sep 26 at 6:46AM
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 Don Quick & Associates Inc
Investment Insights
Based on property information with market context.
Suite 220 is a 1,022-square-foot office condominium completed in 2021. Its layout includes a reception area, four private offices, a break area, and an ADA-compliant restroom. The unit occupies a full-depth bay in Building 2, with an individual entrance from the covered walkway and parking close by. There is no shared interior corridor within the building. The owners association covers water, trash, and sewer service.
The property is part of a 3.422-acre stone-and-stucco campus on Gattis School Road in Round Rock. The campus was built in 2021 and expanded in 2024. The site is between Sam Bass Road and A.W. Grimes Boulevard, east of A.W. Grimes Boulevard and west of Double Creek Drive. Clay Madsen and Cedar Ridge High School are nearby, and IH-35 is approximately five minutes away.
The property is part of a 3.422-acre stone-and-stucco campus on Gattis School Road in Round Rock. The campus was built in 2021 and expanded in 2024. The site is between Sam Bass Road and A.W. Grimes Boulevard, east of A.W. Grimes Boulevard and west of Double Creek Drive. Clay Madsen and Cedar Ridge High School are nearby, and IH-35 is approximately five minutes away.
Key Highlights
- 1,022‑square‑foot office condominium in Building 2
- Four private offices, reception, break area, and ADA restroom
- Full‑depth bay with a dedicated entrance from the covered walkway
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
$16,257
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
3.97%
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%
$325,140
$325.1K
Cap Rate 7%
$232,243
$232.2K
Cap Rate 9%
$180,633
$180.6K
Market Conditions
NOI Build-Up for 1,022 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
$30.7K $30.00/SF
− Vacancy
−$9.0K −$8.79/SF
EGI
$21.7K $21.21/SF
− OpEx
−$5.4K −$5.30/SF
NOI
$16.3K $15.91/SF
Area
Round Rock, TX
Vacancy
29.30%
Lease Rate
$30.00 /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%
$325,140
Cap Rate 7%
$232,243
Cap Rate 9%
$180,633
Alternative Uses
Best Use
Office B
$232.2K
$203.2K – $271.0K
NOI $16,257 @ 7.0% cap · market cap 3.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$323.8K
$283.3K – $377.7K
NOI $22,664 @ 7.0% cap · market cap 5.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
750
Businesses Nearby
Explore this area
Business Placement
Demographics for 78664, TX
60,287
Population
24,259
Households
2.5
Avg Household Size
34
Median Age
35%
College-Educated
90%
High-School Grad
16.6 sq mi
ZIP Area
3,632
Density / Sq Mi
$85,919
Median Household Income
$45,700
Median Earnings
$1,645
Median Rent
$317,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office units - A self-contained workspace pairs reception with private offices and dedicated break and restroom areas.
Where is this office units located?
The property is located at 2261 Gattis School Rd #220 Round Rock, TX.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: 1,022‑square‑foot office condominium in Building 2; Four private offices, reception, break area, and ADA restroom; Full‑depth bay with a dedicated entrance from the covered walkway
