End-Unit Live-Work
New
For Sale
$879,000
3826 Berkman Dr, Austin, TX 78723
Two-bedroom residence above a dedicated commercial suite with separate customer access and storefront exposure.
Property Size2,446 SF
Days on Market1
Property Features for 3826 Berkman Dr
General Information
Standard status
Active
Size
2,446 SF
Property subtype
Commercial
Additional Details
Floor
1
End Cap
Yes
Taxes and HOA fees
Annual Taxes
$14,236
Amenities
separate business entrance
Building Details
Building Size
2,446 SF
Year Built
2026
Listing Agency:
eXp Realty, LLC
Listed By:
Tracy Godfrey
(512) 954-1300
Source:
Elliman
Added: Sep 4
Last Checked: Sep 4 at 3:06PM
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 eXp Realty, LLC
Investment Insights
Based on property information with market context.
This 2026 live-work property combines a private two-bedroom, 2.5-bath residence with dedicated first-floor commercial space. The business area has its own entrance and storefront presence, creating physical separation between residential and commercial functions. Upstairs, the open living area includes expansive windows and 10-foot sliding glass doors that open to a balcony. The kitchen is equipped with a quartz island, Bosch appliances, modern cabinetry, and Hansgrohe fixtures. The primary suite includes a walk-in shower, while the secondary bedroom has an ensuite bath.
Located at 3826 Berkman Dr in Austin’s Mueller area, the property has a bike score of 76, a walk score of 67, and a transit score of 47. Parks, trails, pools, restaurants, coffee shops, shopping, entertainment, and the Farmers’ Market are identified nearby, with Downtown Austin, UT, ABIA, and The Domain described as minutes away.
Located at 3826 Berkman Dr in Austin’s Mueller area, the property has a bike score of 76, a walk score of 67, and a transit score of 47. Parks, trails, pools, restaurants, coffee shops, shopping, entertainment, and the Farmers’ Market are identified nearby, with Downtown Austin, UT, ABIA, and The Domain described as minutes away.
Key Highlights
- Live‑work configuration with a private residence and dedicated first‑floor commercial space
- Separate business entrance and storefront presence
- Two‑bedroom, 2.5‑bath residence with balcony access
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
$49,827
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
5.67%
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%
$996,540
$996.5K
Cap Rate 7%
$711,814
$711.8K
Cap Rate 9%
$553,633
$553.6K
Market Conditions
NOI Build-Up for 2,446 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
$87.8K $35.88/SF
− Vacancy
−$21.3K −$8.72/SF
EGI
$66.4K $27.16/SF
− OpEx
−$16.6K −$6.79/SF
NOI
$49.8K $20.37/SF
Area
Austin, TX
Vacancy
24.30%
Lease Rate
$35.88 /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%
$996,540
Cap Rate 7%
$711,814
Cap Rate 9%
$553,633
Alternative Uses
Best Use
Office B
$711.8K
$622.8K – $830.5K
NOI $49,827 @ 7.0% cap · market cap 5.67%
Second Best
Retail
$615.3K
$538.4K – $717.8K
NOI $43,070 @ 7.0% cap · market cap 4.90%
Theoretical Best
Office A
$958.5K
$838.7K – $1.12M
NOI $67,095 @ 7.0% cap · market cap 7.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
669
Businesses Nearby
Explore this area
Business Placement
Demographics for 78723, TX
34,522
Population
17,065
Households
2
Avg Household Size
35
Median Age
56%
College-Educated
91%
High-School Grad
7.1 sq mi
ZIP Area
4,862
Density / Sq Mi
$87,978
Median Household Income
$54,769
Median Earnings
$1,478
Median Rent
$513,500
Median Home Value
Market
Vacancy Rate% for Office in Austin, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - Two-bedroom residence above a dedicated commercial suite with separate customer access and storefront exposure.
Where is this live-work space located?
The property is located at 3826 Berkman Dr Austin, TX.
What is the asking price?
The asking price for this property is $879,000.
What are key features of this property?
This property features: Live‑work configuration with a private residence and dedicated first‑floor commercial space; Separate business entrance and storefront presence; Two‑bedroom, 2.5‑bath residence with balcony access
