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    Downtown Austin Retail/Creative Office Space Title is generated by Realmo AI

    305 East 3rd Street, Austin, TX 78701

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    Prime location near Austin Convention Center and downtown attractions.

    Type:Office
    Property size:
    10,994 SF
    Added:
    Nov 22, 2025
    Days on Market:
    190
    Last Refresh:
    May 19 at 8:36 pm

    Property Features for 305 East 3rd Street

    General Information

    Standard status
    Active
    Size
    10,994 SF
    Property subtype
    Office

    We can help!

    Listing Contact
    Kyle Lewis

    Listing agent Kyle Lewis

    Listing office

    Listing date Nov 22, 2025

    Source Cbre

    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 Kyle Lewis

    HighLights

    • Prime downtown Austin location directly across from the Austin Convention Center.
    • Large rooftop patio with potential for enclosure.
    • High Walk Score of 97.
    • Access to a large workforce, with over 100,000 daytime population within a 3‑mile radius.
    • Close proximity to major hotels (Fairmont, JW Marriott, Austin Marriott Downtown).
    • Located near Waterloo Park and numerous popular restaurants.

    Overview

    Located in the heart of downtown Austin, 3rd & Trinity is a 19,964 square foot property suitable for retail or creative office use. It is situated directly across from the Austin Convention Center, which attracts hundreds of thousands of visitors annually, including over 150,000 for the South by Southwest Festival. The property boasts a walking score of 97 and is within walking distance of the Fairmont and JW Marriott hotels, as well as the upcoming 615-room Austin Marriott Downtown. A large rooftop patio offers potential for enclosure by future tenants. The location provides access to nearly 30% of Austin’s workforce, with a daytime population exceeding 100,000 within a 3-mile radius. Nearby dining options include Iron Works BBQ, Vince Young Steakhouse, Gus’s Fried Chicken, Eddie V’s Steakhouse, MAX’s Wine Dive, and Moonshine, and it is also near Waterloo Park. The area features an affluent population with average incomes exceeding $109,000, and a large, rapidly growing population with over 16,500 residents. Over 900 condos and 600 apartments are currently under construction in the vicinity.
    Property Profile Location Intelligence

    Current Use by Public Records

    Creative space

    Suggested Use

    Spa & Massage Center Dental Office Hair Salon Real Estate Agency Nail Salon Restaurant Daycare Center Building Supply Kitchen & Bath Showroom Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Austin
    County
    Hays
    State
    Texas
    Longitude
    -97.7409
    Latitude
    30.2643

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    FAQs

    What type of property is this?
    Creative space - Prime location near Austin Convention Center and downtown attractions.
    Where is this creative space located?
    The property is located at 305 East 3rd Street Austin, TX.
    What are key features of this property?
    This property features: Prime downtown Austin location directly across from the Austin Convention Center.; Large rooftop patio with potential for enclosure.; High Walk Score of 97.
    (817) 233-7121
    We can help!
    Listing Contact
    Kyle Lewis
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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