Modern Office Condos in Round
For Sale
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3309 Forest Creek Dr, Round Rock, TX 78664
Two connecting office condos built in 2020, flexible layout.
Property Size1,460 SF
Price / SF$431.51
Days on Market160
Property Features for 3309 Forest Creek Dr
General Information
Standard status
Active
Size
1,460 SF
Total Parking Spaces
8
Property subtype
Office
Investment Type
Owner/User
Building Details
Year Built
2020
Buildings
1
Stories
1
Units
2
Listing Agency:
RJF Commercial, KW Realty
(512) 791-0229
Listed By:
Robert J Fischer · License #TX 538860
Source:
Crexi
Added: Mar 6
Changed: Aug 8
Last Checked: Aug 8 at 8:06AM
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 RJF Commercial, KW Realty
Investment Insights
Based on property information with market context.
Two connecting office condominiums, Units 502 and 503, are available for purchase in the Forest Creek Office Condominiums in Round Rock. Constructed in 2020, this newer, high-end building offers a flexible layout that can function as a single, larger suite or be divided back into two separate units. The combined space features a large central reception area, six to eight private offices depending on the configuration, and two conference rooms or additional offices. Each side includes its own break area with a sink, refrigerator space, microwave, granite countertops, and white cabinetry, as well as an ADA restroom and a dedicated server/IT closet. The interior features tall ceilings, wood-look tile flooring throughout, recessed lighting, ceiling fans, plantation shutters, and glass office doors. The professional finishes create a clean and functional workspace suitable for office users such as legal, financial, consulting, or general office users. Some office furniture may be negotiable with the sale. The layout allows an owner-occupant to utilize the full space or occupy one side while leasing the other. Each unit maintains separate entrances, and a reception separation wall can be re-established. The property is located with convenient access to I-35, SH-45 Toll, and SH-130 and is within close proximity to major employers including Dell, Samsung, Emerson, Amazon, Tesla, and the Kalahari Resort development. Austin-Bergstrom International Airport is approximately 30 minutes away. The property size is 1460 square feet.
Key Highlights
- Flexible layout: Function as a single large suite or be divided into two separate units.
- High‑end, newer construction: Built in 2020 with professional finishes, tall ceilings, wood‑look tile flooring, and glass office doors.
- Dual amenities: Each unit includes its own break area with granite countertops and ADA restroom.
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
$23,225
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%
$464,500
$464.5K
Cap Rate 7%
$331,786
$331.8K
Cap Rate 9%
$258,056
$258.1K
Market Conditions
NOI Build-Up for 1,460 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
$43.8K $30.00/SF
− Vacancy
−$12.8K −$8.79/SF
EGI
$31.0K $21.21/SF
− OpEx
−$7.7K −$5.30/SF
NOI
$23.2K $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%
$464,500
Cap Rate 7%
$331,786
Cap Rate 9%
$258,056
Alternative Uses
Best Use
Office B
$331.8K
$290.3K – $387.1K
NOI $23,225 @ 7.0% cap · market cap 3.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$462.5K
$404.7K – $539.6K
NOI $32,377 @ 7.0% cap · market cap 5.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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 - Two connecting office condos built in 2020, flexible layout.
Where is this office units located?
The property is located at 3309 Forest Creek Dr Round Rock, TX.
What is the asking price?
The asking price for this property is $630,000.
What are key features of this property?
This property features: Flexible layout: Function as a single large suite or be divided into two separate units.; High‑end, newer construction: Built in 2020 with professional finishes, tall ceilings, wood‑look tile flooring, and glass office doors.; Dual amenities: Each unit includes its own break area with granite countertops and ADA restroom.
