Leased Office Condo
For Sale
$850,000
3001 Joe Dimaggio Blvd #600A + 650B, Round Rock, TX 78665
Two occupied commercial condominium units provide an existing office configuration with established tenants.
Property Size2,500 SF
Price / SF$340
Days on Market197
Property Features for 3001 Joe Dimaggio Blvd #600A + 650B
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Commercial
Additional Details
Office Units
2
Taxes and HOA fees
Annual Taxes
$13,590
Building Details
Building Size
2,500 SF
Year Built
2018
Buildings
1
Tenancy
Multi
Owner Occupied
No
Listing Agency:
SpecTower Realty Group
(512) 285-7146
Listed By:
Sam Sheikh · License #0656784
Source:
Loessinproperties
Added: Jan 23
Changed: Aug 7
Last Checked: Aug 7 at 2:27AM
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 SpecTower Realty Group
Investment Insights
Based on property information with market context.
This offering comprises two leased commercial condominium units within The Shops at Legends Village. The combined property size is 2,500 square feet, with Unit 600A occupied by a medical billing company and Unit 650B occupied by a music school. Both units are part of a two-unit office holding, creating a single offering with existing tenancy.
The property is located at 3001 Joe Dimaggio Blvd in Round Rock, Texas 78665. Constructed in 2018, the office units are positioned within a commercial development serving a mix of business uses. Financial statements and lease documents are available upon request, and buyers are expected to verify square footage, expenses, and lease terms during due diligence.
The property is located at 3001 Joe Dimaggio Blvd in Round Rock, Texas 78665. Constructed in 2018, the office units are positioned within a commercial development serving a mix of business uses. Financial statements and lease documents are available upon request, and buyers are expected to verify square footage, expenses, and lease terms during due diligence.
Key Highlights
- Two leased office condominium units offered together
- Combined property size of 2,500 square feet
- Unit 600A leased to a medical billing company
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
$46,658
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
5.49%
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%
$933,160
$933.2K
Cap Rate 7%
$666,543
$666.5K
Cap Rate 9%
$518,422
$518.4K
Market Conditions
NOI Build-Up for 2,500 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
$69.0K $27.60/SF
− Vacancy
−$2.3K −$0.94/SF
EGI
$66.7K $26.66/SF
− OpEx
−$20.0K −$8.00/SF
NOI
$46.7K $18.66/SF
Area
Round Rock, TX
Vacancy
3.40%
Lease Rate
$27.60 /SF/Yr
Expense Ratio
30.00%
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%
$933,160
Cap Rate 7%
$666,543
Cap Rate 9%
$518,422
Alternative Uses
Best Use
Retail
$666.5K
$583.2K – $777.6K
NOI $46,658 @ 7.0% cap · market cap 5.49%
Second Best
Office B
$568.1K
$497.1K – $662.8K
NOI $39,769 @ 7.0% cap · market cap 4.68%
Theoretical Best
Office A
$792.0K
$693.0K – $924.0K
NOI $55,440 @ 7.0% cap · market cap 6.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
146
Businesses Nearby
Explore this area
Business Placement
Demographics for 78665, TX
61,577
Population
24,678
Households
2.5
Avg Household Size
35
Median Age
52%
College-Educated
97%
High-School Grad
24.1 sq mi
ZIP Area
2,555
Density / Sq Mi
$117,240
Median Household Income
$58,138
Median Earnings
$1,945
Median Rent
$438,700
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?
Office units - Two occupied commercial condominium units provide an existing office configuration with established tenants.
Where is this office units located?
The property is located at 3001 Joe Dimaggio Blvd #600A + 650B Round Rock, TX.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Two leased office condominium units offered together; Combined property size of 2,500 square feet; Unit 600A leased to a medical billing company
