Retail Building with
New
For Sale
$770,000
301 Highway 183, Leander, TX 78641
Retail-zoned building with reception area, kitchen, central air, and on-site parking.
Property Size1,300 SF
Price / SF$592.76
Days on Market7
Property Features for 301 Highway 183
General Information
Standard status
Active
Size
1,300 SF
Property subtype
Retail
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
Central Air
3
Parking.
8 Parking Spaces. Driveway, Gravel, Lot, Comm Area.
Building Details
Year Built
1956
Buildings
1
Building Size
1,300 SF
Listing Agency:
Key Realty & Associates, LLC
(512) 815-3539
Listed By:
Andre Key
(512) 815-3539
Source:
Xome
Added: Aug 10
Changed: Aug 16
Last Checked: Aug 16 at 4:03AM
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 Key Realty & Associates, LLC
Investment Insights
Based on property information with market context.
This retail property includes two private offices, a reception area, and a spacious kitchen within a functional commercial layout. Central air is provided, and the building was constructed in 1956. The zoning supports retail use, with a configuration that also accommodates professional office, showroom, salon, medical, and other service-oriented operations.
Located on Highway 183 in Leander, the property offers direct corridor frontage and exposure along a heavily traveled commercial route. Parking includes common spaces at the front and additional private parking toward the rear, with 8 parking spaces identified in the property details. The site is positioned in Old Town Leander and includes a gravel driveway, lot, and common-area parking.
Located on Highway 183 in Leander, the property offers direct corridor frontage and exposure along a heavily traveled commercial route. Parking includes common spaces at the front and additional private parking toward the rear, with 8 parking spaces identified in the property details. The site is positioned in Old Town Leander and includes a gravel driveway, lot, and common-area parking.
Key Highlights
- Retail zoning with two private offices, reception area, and kitchen
- Central air included
- Highway 183 frontage in Leander, TX
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
$30,975
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
4.02%
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%
$619,500
$619.5K
Cap Rate 7%
$442,500
$442.5K
Cap Rate 9%
$344,167
$344.2K
Market Conditions
NOI Build-Up for 1,299 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
$54.6K $42.00/SF
− Vacancy
−$13.3K −$10.21/SF
EGI
$41.3K $31.79/SF
− OpEx
−$10.3K −$7.95/SF
NOI
$31.0K $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%
$619,500
Cap Rate 7%
$442,500
Cap Rate 9%
$344,167
Alternative Uses
Best Use
Office B
$442.5K
$387.2K – $516.3K
NOI $30,975 @ 7.0% cap · market cap 4.02%
Second Best
Retail
$326.8K
$285.9K – $381.2K
NOI $22,873 @ 7.0% cap · market cap 2.97%
Theoretical Best
Office A
$543.0K
$475.1K – $633.5K
NOI $38,011 @ 7.0% cap · market cap 4.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
532
Businesses Nearby
Explore this area
Business Placement
Demographics for 78641, TX
83,426
Population
33,118
Households
2.5
Avg Household Size
36
Median Age
51%
College-Educated
95%
High-School Grad
124.4 sq mi
ZIP Area
671
Density / Sq Mi
$131,421
Median Household Income
$61,185
Median Earnings
$1,873
Median Rent
$453,100
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?
Retail space - Retail-zoned building with reception area, kitchen, central air, and on-site parking.
Where is this retail space located?
The property is located at 301 Highway 183 Leander, TX.
What is the asking price?
The asking price for this property is $770,000.
What are key features of this property?
This property features: Retail zoning with two private offices, reception area, and kitchen; Central air included; Highway 183 frontage in Leander, TX
