Two-Story Class B Office
For Sale
Contact for pricing
309 West Main Street, Round Rock, TX 78664
Renovated professional office property with private rooms, open work areas, and flexible occupancy across two floors.
Property Size6,971 SF
Price / SF$397.95
Days on Market126
Property Features for 309 West Main Street
General Information
Standard status
Active
Size
6,971 SF
Class
B
Property subtype
Office
Occupancy
50%
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
shared common areas
kitchenette
Building Details
Year Renovated
2001
Buildings
1
Stories
2
Tenancy
Multi
Building Size
6,971 SF
Listing Agency:
Don Quick & Associates Inc
Listed By:
Shelly Morgan · License #TX 509529-SA
(512) 814-1825
Source:
Crexi
Added: May 7
Changed: Sep 7
Last Checked: Sep 8 at 4:54AM
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.
This two-story Class B office property combines early-1900s construction with a 2001 renovation. The interior includes enclosed offices, open bullpen areas, shared common spaces, and a kitchenette, supporting both a consolidated headquarters arrangement and multiple office suites. Approximately 50% of the building is leased, while three suites ranging from 696 to 1,791 SF are available for occupancy.
The property sits in downtown Round Rock’s historic commercial district at the corner of Harris and West Main Street. City Hall is one block away, the courthouse is nearby, and downtown shops, restaurants, and municipal offices are within walking distance. Direct IH-35 access and nearby free public parking add convenience for occupants and visitors.
The property sits in downtown Round Rock’s historic commercial district at the corner of Harris and West Main Street. City Hall is one block away, the courthouse is nearby, and downtown shops, restaurants, and municipal offices are within walking distance. Direct IH-35 access and nearby free public parking add convenience for occupants and visitors.
Key Highlights
- Approximately 50% leased to established tenants
- Three available suites ranging from 696 to 1,791 SF
- Two‑story Class B office building renovated in 2001
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
$111,925
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
4.00%
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%
$2,238,500
$2.2M
Cap Rate 7%
$1,598,929
$1.6M
Cap Rate 9%
$1,243,611
$1.2M
Market Conditions
NOI Build-Up for 7,036 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
$211.1K $30.00/SF
− Vacancy
−$61.8K −$8.79/SF
EGI
$149.2K $21.21/SF
− OpEx
−$37.3K −$5.30/SF
NOI
$111.9K $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%
$2,238,500
Cap Rate 7%
$1,598,929
Cap Rate 9%
$1,243,611
Alternative Uses
Best Use
Office B
$1.60M
$1.40M – $1.87M
NOI $111,925 @ 7.0% cap · market cap 4.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.23M
$1.95M – $2.60M
NOI $156,030 @ 7.0% cap · market cap 5.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
50%
Occupancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,961
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
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 building - Renovated professional office property with private rooms, open work areas, and flexible occupancy across two floors.
Where is this office building located?
The property is located at 309 West Main Street Round Rock, TX.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Approximately 50% leased to established tenants; Three available suites ranging from 696 to 1,791 SF; Two‑story Class B office building renovated in 2001
