Two-Unit Office
For Sale
$315,000
3309 Forest Creek Dr #502, Round Rock, TX 78664
Flexible office configuration offers separate entrances, private work areas, conference space, and dedicated server closets.
Property Size730 SF
Price / SF$431.51
Days on Market82
Property Features for 3309 Forest Creek Dr #502
General Information
Standard status
Active
Size
730 SF
Property subtype
Commercial
Additional Details
Highway Access
Yes
Office Units
2
Taxes and HOA fees
Annual Taxes
$5,410
Building Details
Building Size
730 SF
Year Built
2020
Buildings
1
Listing Agency:
Keller Williams Realty Lone Star
(512) 994-0247
Listed By:
Robert Fischer · License #0538860
Source:
Buttross
Added: May 19
Changed: Aug 7
Last Checked: Aug 8 at 12:00PM
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 Keller Williams Realty Lone Star
Investment Insights
Based on property information with market context.
Units 502 and 503 are offered together or separately within Forest Creek Office Condominiums. Constructed in 2020, the connected office suites can operate as one larger workplace or return to two independent units, with separate entrances and the option to restore the reception dividing wall. The combined layout includes a central reception area, multiple private offices, conference rooms, and two break areas with sinks, refrigerator space, microwaves, granite counters, and white cabinetry. Each unit also includes an ADA restroom and dedicated server/IT closet.
Interior finishes include tall ceilings, wood-look tile, recessed lighting, ceiling fans, plantation shutters, and glass office doors. The property provides access to I-35, SH-45 Toll, and SH-130, with nearby major employers including Dell, Samsung, Emerson, Amazon, Tesla, and the Kalahari Resort development. Austin-Bergstrom International Airport is approximately 30 minutes away.
Interior finishes include tall ceilings, wood-look tile, recessed lighting, ceiling fans, plantation shutters, and glass office doors. The property provides access to I-35, SH-45 Toll, and SH-130, with nearby major employers including Dell, Samsung, Emerson, Amazon, Tesla, and the Kalahari Resort development. Austin-Bergstrom International Airport is approximately 30 minutes away.
Key Highlights
- Units 502 and 503 offered together or separately
- Built in 2020 with flexible single‑suite or two‑unit configuration
- Six to eight private offices depending on layout, plus two conference rooms
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
$11,612
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
3.69%
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%
$232,240
$232.2K
Cap Rate 7%
$165,886
$165.9K
Cap Rate 9%
$129,022
$129.0K
Market Conditions
NOI Build-Up for 730 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
$21.9K $30.00/SF
− Vacancy
−$6.4K −$8.79/SF
EGI
$15.5K $21.21/SF
− OpEx
−$3.9K −$5.30/SF
NOI
$11.6K $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%
$232,240
Cap Rate 7%
$165,886
Cap Rate 9%
$129,022
Alternative Uses
Best Use
Office B
$165.9K
$145.2K – $193.5K
NOI $11,612 @ 7.0% cap · market cap 3.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$231.3K
$202.4K – $269.8K
NOI $16,188 @ 7.0% cap · market cap 5.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
242
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 units - Flexible office configuration offers separate entrances, private work areas, conference space, and dedicated server closets.
Where is this office units located?
The property is located at 3309 Forest Creek Dr #502 Round Rock, TX.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Units 502 and 503 offered together or separately; Built in 2020 with flexible single‑suite or two‑unit configuration; Six to eight private offices depending on layout, plus two conference rooms
