Freestanding Restaurant
320 W William Cannon Dr Austin, TX 78745
320 W William Cannon Dr, Austin, TX, 78745
$2,250,000
For Sale
$2,250,000
Flexible CS-MU-CO-NP zoning with existing grease trap and ample paved parking for restaurant, retail, or office uses.
Property Size4,800 SF
Lot Size1.12 Acres
Price / SF$468.75
Days on Market49
Property Features for 320 W William Cannon Dr
General Information
- Standard status
- Active
- Size
- 4,800 SF
- Lot size
- 1.12 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1987
Listing agency
(512) 655-9056
Listed by
John Mundell · License #0640318
(512) 655-9056
Source
Elliman
Added: Jun 4 Updated: Jul 10 at 3:59PM Checked: Jul 22 at 7:13AM
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 John Mundell
Investment Insights
Based on property information with market context.
This freestanding commercial site is currently permitted for restaurant use and retains an existing grease trap on site, providing a head start for food and beverage operators. The property is zoned CS-MU-CO-NP, with the base CS designation supporting a broad mix of by-right uses including restaurant and food service, retail, medical and professional office, personal services, and financial services, among others. A Mixed Use overlay allows multifamily, condominium, townhouse, or mixed-use development on the same site.
The property is not in a flood zone and has no creek buffer or major environmental constraints identified in the provided remarks. It features strong building coverage and confirmed FAR potential per the city. The site sits at a hard corner at a signalized intersection, offering prominent visibility and straightforward ingress/egress, and includes approximately 65 paved parking spaces.
For an owner or tenant, the existing improvements can be repurposed for food service or other allowed commercial uses, with the option to expand the current footprint. Alternatively, the zoning flexibility and land size support redevelopment into a broader commercial or mixed-use concept, subject to applicable approvals. The combination of parking, signalized-corner visibility, and broad-use zoning is designed to accommodate a range of plans for the next operator or ownership group.
The property is not in a flood zone and has no creek buffer or major environmental constraints identified in the provided remarks. It features strong building coverage and confirmed FAR potential per the city. The site sits at a hard corner at a signalized intersection, offering prominent visibility and straightforward ingress/egress, and includes approximately 65 paved parking spaces.
For an owner or tenant, the existing improvements can be repurposed for food service or other allowed commercial uses, with the option to expand the current footprint. Alternatively, the zoning flexibility and land size support redevelopment into a broader commercial or mixed-use concept, subject to applicable approvals. The combination of parking, signalized-corner visibility, and broad-use zoning is designed to accommodate a range of plans for the next operator or ownership group.
Key Highlights
- 4,800 SF freestanding building on 1.12 acres with about 65 paved parking spaces
- CS‑MU‑CO‑NP zoning with Mixed Use overlay allowing multifamily, condominium, townhouse, or mixed‑use development
- Previously permitted for restaurant use and retains an existing grease trap on site
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $125.0k | $26.04 |
| − Vacancy | −$4.2k | −$0.89 |
| EGI | $120.7k | $25.15 |
| − OpEx | −$30.2k | −$6.29 |
| NOI | $90.6k | $18.87 |
4,800 SF · lease $26.04/SF/yr · vacancy 3.40% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.29M
$1.13M – $1.51M
NOI $90,557 @ 7.0% cap · market cap 4.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.01M
$1.76M – $2.34M
NOI $140,456 @ 7.0% cap · market cap 6.24%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Mary Poletti
Physician
Austin Ketamine Specialists
Crisis Center
Austin Physical Therapy ...
Medical Clinic
Paul Foster, DO
Physician
Dr. Kennedy King
Physician
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FAQs
What type of property is this?
Conventional restaurant - Flexible CS-MU-CO-NP zoning with existing grease trap and ample paved parking for restaurant, retail, or office uses.
Where is this conventional restaurant located?
The property is located at 320 W William Cannon Dr Austin, TX.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: 4,800 SF freestanding building on 1.12 acres with about 65 paved parking spaces; CS‑MU‑CO‑NP zoning with Mixed Use overlay allowing multifamily, condominium, townhouse, or mixed‑use development; Previously permitted for restaurant use and retains an existing grease trap on site
