Commercial Flex Building with Grade-Level
For Sale
Contact for pricing
40120 Industrial Park Cir, Georgetown, TX 78626
C-3-zoned flex property with office, showroom, surface parking, and a side yard for operational or outdoor storage needs.
Property Size4,800 SF
Lot Size0.28 Acres
Price / SF$197.92
Days on Market211
Property Features for 40120 Industrial Park Cir
General Information
Standard status
Active
Size
4,800 SF
Class
C
Lot size
0.28 Acres
Property subtype
Industrial, Retail
Zoning
C-3
Occupancy
25%
Lease Type
Modified Gross
Investment Type
Value Add
Site & Location
Highway Access
Yes
Road Access
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Height
19 ft
Drive-In Doors
3
Additional Details
Office Units
3
Building Details
Year Built
1984
Buildings
1
Stories
1
Units
3
Tenancy
Multi
Building Size
4,800 SF
Construction
metal building
Listing Agency:
KW Commercial Austin NW
Listed By:
Todd Milligan · License #TX 670833
Source:
Crexi
Added: Jan 31
Changed: Aug 29
Last Checked: Aug 29 at 3:11PM
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 KW Commercial Austin NW
Investment Insights
Based on property information with market context.
This 4,800 SF flex property occupies ±0.28 acres and includes a metal building with approximately 19-foot clear height, three grade-level doors, and a shallow-bay layout. Unit AB contains a two-story office and showroom component, while the site also provides surface parking and a small side yard suited to operations or outdoor storage. Suite C is leased to Iron Rite Tattoo, and Units AB and D provide additional leasing or occupancy options.
Positioned at the northeast quadrant of IH-35 and NE Inner Loop / Lakeway Drive, the property has corner frontage and regional highway access within the Industrial Park. C-3 General Commercial zoning supports retail, service, automotive, medical, showroom, office, and redevelopment uses. Built in 1984, the property is located in the Georgetown submarket of the Austin MSA.
Positioned at the northeast quadrant of IH-35 and NE Inner Loop / Lakeway Drive, the property has corner frontage and regional highway access within the Industrial Park. C-3 General Commercial zoning supports retail, service, automotive, medical, showroom, office, and redevelopment uses. Built in 1984, the property is located in the Georgetown submarket of the Austin MSA.
Key Highlights
- 4,800 SF metal flex building on ±0.28 acres
- C‑3 General Commercial zoning; only fully commercial‑zoned parcel within the park
- Approximately 19‑foot clear height with three grade‑level doors
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
$84,520
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
8.90%
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%
$1,690,400
$1.7M
Cap Rate 7%
$1,207,429
$1.2M
Cap Rate 9%
$939,111
$939.1K
Market Conditions
NOI Build-Up for 4,800 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
$125.0K $26.04/SF
− Vacancy
−$4.2K −$0.89/SF
EGI
$120.7K $25.15/SF
− OpEx
−$36.2K −$7.55/SF
NOI
$84.5K $17.61/SF
Area
Williamson County, TX
Vacancy
3.40%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
30.00%
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%
$1,690,400
Cap Rate 7%
$1,207,429
Cap Rate 9%
$939,111
Alternative Uses
Best Use
Office B
$1.64M
$1.43M – $1.91M
NOI $114,458 @ 7.0% cap · market cap 12.05%
Second Best
Retail
$1.21M
$1.06M – $1.41M
NOI $84,520 @ 7.0% cap · market cap 8.90%
Theoretical Best
Office A
$2.01M
$1.76M – $2.34M
NOI $140,456 @ 7.0% cap · market cap 14.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
19 ft
Clear height
3
Drive-in doors
3
Office units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
177
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 78626, TX
39,935
Population
16,866
Households
2.4
Avg Household Size
34
Median Age
36%
College-Educated
90%
High-School Grad
88.6 sq mi
ZIP Area
451
Density / Sq Mi
$94,967
Median Household Income
$44,955
Median Earnings
$1,752
Median Rent
$358,500
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?
Flex space - C-3-zoned flex property with office, showroom, surface parking, and a side yard for operational or outdoor storage needs.
Where is this flex space located?
The property is located at 40120 Industrial Park Cir Georgetown, TX.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 4,800 SF metal flex building on ±0.28 acres; C‑3 General Commercial zoning; only fully commercial‑zoned parcel within the park; Approximately 19‑foot clear height with three grade‑level doors
