Renovated Office and Medical
For Sale
Contact for pricing
4212 Medical Pkwy, Austin, TX 78756
Recently renovated office/medical building with access to MoPac via 35th and 45th Streets.
Property Size7,769 SF
Price / SF$405.46
Days on Market202
Property Features for 4212 Medical Pkwy
General Information
Standard status
Active
Size
7,769 SF
Class
C
Property subtype
Office
Zoning
LO
Lease Type
NNN
Investment Type
Owner/User
Additional Details
Highway Access
Yes
Building Details
Year Built
1973
Year Renovated
2023
Buildings
1
Stories
2
Tenancy
Single
Listing Agency:
Asterra Properties
Listed By:
Emmett Sweeney · License #824221
(512) 954-4497
Source:
Crexi
Added: Feb 17
Changed: Aug 24
Last Checked: Sep 5 at 8:46PM
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 Asterra Properties
Investment Insights
Based on property information with market context.
4212 Medical Parkway is a renovated office and medical building offering updated finishes and a refreshed professional environment. The property is suited for office or medical users.
Located in central Austin near the Triangle District, the building is approximately four miles north of Downtown Austin. Access to MoPac is available via 35th and 45th Streets, supporting convenient connectivity throughout Austin.
The building is offered for sale.
Located in central Austin near the Triangle District, the building is approximately four miles north of Downtown Austin. Access to MoPac is available via 35th and 45th Streets, supporting convenient connectivity throughout Austin.
The building is offered for sale.
Key Highlights
- Recently renovated office/medical building
- Year built: 1973
- Located at 4212 Medical Parkway in central Austin, about four miles north of Downtown Austin
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
$158,261
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
5.02%
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%
$3,165,220
$3.2M
Cap Rate 7%
$2,260,871
$2.3M
Cap Rate 9%
$1,758,456
$1.8M
Market Conditions
NOI Build-Up for 7,769 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
$278.8K $35.88/SF
− Vacancy
−$67.7K −$8.72/SF
EGI
$211.0K $27.16/SF
− OpEx
−$52.8K −$6.79/SF
NOI
$158.3K $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%
$3,165,220
Cap Rate 7%
$2,260,871
Cap Rate 9%
$1,758,456
Alternative Uses
Best Use
Office B
$2.26M
$1.98M – $2.64M
NOI $158,261 @ 7.0% cap · market cap 5.02%
Second Best
Healthcare Medical
$1.46M
$1.28M – $1.71M
NOI $102,364 @ 7.0% cap · market cap 3.25%
Theoretical Best
Office A
$3.04M
$2.66M – $3.55M
NOI $213,109 @ 7.0% cap · market cap 6.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,161
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78756, TX
8,426
Population
4,943
Households
1.7
Avg Household Size
37
Median Age
71%
College-Educated
97%
High-School Grad
1.7 sq mi
ZIP Area
4,956
Density / Sq Mi
$97,149
Median Household Income
$56,515
Median Earnings
$1,383
Median Rent
$788,600
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?
Medical Office Space - Recently renovated office/medical building with access to MoPac via 35th and 45th Streets.
Where is this medical office space located?
The property is located at 4212 Medical Pkwy Austin, TX.
What is the asking price?
The asking price for this property is $3,150,000.
What are key features of this property?
This property features: Recently renovated office/medical building; Year built: 1973; Located at 4212 Medical Parkway in central Austin, about four miles north of Downtown Austin
