Finished Office Condo in Cedar
For Sale
$549,500
3109 Kenai Dr 109, Cedar Park, TX 78613
Ready-to-occupy office condo with private offices, conference room, and breakroom.
Property Size1,320 SF
Price / SF$418.83
Days on Market124
Property Features for 3109 Kenai Dr 109
General Information
Standard status
Active
Size
1,320 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$11,583
Building Details
Building Size
1,320 SF
Year Built
2018
Listing Agency:
All City Real Estate Ltd. Co
(512) 590-4165
Listed By:
Venkat Gudapuri
(512) 590-4165
Source:
Elliman
Added: Apr 10
Changed: Aug 8
Last Checked: Aug 8 at 1:03PM
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 All City Real Estate Ltd. Co
Investment Insights
Based on property information with market context.
This is a fully finished, ready-to-occupy office condo located in Cedar Park. The office space measures 1312 square feet and features 5 private offices, a conference room, and a break room. It also includes two restrooms. The property offers ample ventilation and is move-in ready. It is suitable for investment or owner-user purposes. The bike score is 26, indicating it is somewhat bikeable, and the walk score is 27, indicating car-dependent.
Key Highlights
- Fully finished 1312 Sqft office space, ready to occupy.
- Includes 5 private offices, conference room, and break room.
- Features two restrooms.
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
$31,285
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
5.69%
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%
$625,700
$625.7K
Cap Rate 7%
$446,929
$446.9K
Cap Rate 9%
$347,611
$347.6K
Market Conditions
NOI Build-Up for 1,312 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
$55.1K $42.00/SF
− Vacancy
−$13.4K −$10.21/SF
EGI
$41.7K $31.79/SF
− OpEx
−$10.4K −$7.95/SF
NOI
$31.3K $23.85/SF
Area
Williamson 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%
$625,700
Cap Rate 7%
$446,929
Cap Rate 9%
$347,611
Alternative Uses
Best Use
Office B
$446.9K
$391.1K – $521.4K
NOI $31,285 @ 7.0% cap · market cap 5.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$548.4K
$479.9K – $639.9K
NOI $38,391 @ 7.0% cap · market cap 6.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
570
Businesses Nearby
Explore this area
Business Placement
Demographics for 78613, TX
89,279
Population
34,198
Households
2.6
Avg Household Size
36
Median Age
55%
College-Educated
97%
High-School Grad
27.7 sq mi
ZIP Area
3,223
Density / Sq Mi
$120,829
Median Household Income
$61,782
Median Earnings
$1,733
Median Rent
$461,900
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 - Ready-to-occupy office condo with private offices, conference room, and breakroom.
Where is this office units located?
The property is located at 3109 Kenai Dr 109 Cedar Park, TX.
What is the asking price?
The asking price for this property is $549,500.
What are key features of this property?
This property features: Fully finished 1312 Sqft office space, ready to occupy.; Includes **5 private offices, conference room, and break room.**; Features two restrooms.
