Drive-Up Flex
For Sale
$159,900
4229 N FM 620 RD # 203, Austin, TX 78734
Concrete-and-steel construction combines private access, flexible work area, and shared amenities for business or personal use.
Property Size490 SF
Price / SF$326.33
Days on Market340
Property Features for 4229 N FM 620 RD # 203
General Information
Standard status
Active
Size
490 SF
Property subtype
Mixed Use
Site & Location
Road Access
Yes
Utilities to Site
Yes
Warehouse & Industrial
Mezzanine
189 SF
Drive-In Doors
1
Three-Phase Power
No
Sprinkler System
Yes
Amenities
high-speed internet
water
electricity
janitorial services
landscaping services
trash services
mail center
bathrooms/showers
kitchenettes
water refilling stations
HVAC air filtration system
24/7 monitored security
remote access
owners lounge
private conference room
commercial-grade kitchen
mixer lounge
terrace
Building Details
Building Size
490 SF
Year Built
2022
Construction
concrete & steel
Listing Agency:
All City Real Estate Ltd. Co
(512) 751-5210
Listed By:
Margo Fesas · License #0611945
Source:
Lyon
Added: Sep 25, 2025
Changed: Aug 27
Last Checked: Aug 29 at 5:04PM
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 All City Real Estate Ltd. Co
Investment Insights
Based on property information with market context.
This 2022 flex-space unit combines a 301-square-foot ground-level area with a 189-square-foot mezzanine, creating approximately 490 customizable square feet. The concrete-and-steel facility includes a private roll-up door, 25'+ drive-up access, single-phase power, supplemental lighting, an oversized picture window, and HVAC with bioclimatic ionization air filtration. Shared features include monitored security, fire sprinklers, high-speed internet, water, electricity, janitorial, landscaping, trash service, bathrooms, showers, kitchenettes, and water-refilling stations. The property is fully leased with verified tenants through 2026.
The unit is at 4229 N FM 620 RD in Austin's Lake Travis region. The property is described as 30 min. from DT Austin and 12 miles from The Domain, with Westlake Hills, Lakeway, and Steiner Ranch nearby. On-site common areas include a 3,000 sq/ft owners' lounge with a conference room, commercial-grade kitchen, mixer lounge, terrace, and views of Lake Travis and the Texas Hill Country.
The unit is at 4229 N FM 620 RD in Austin's Lake Travis region. The property is described as 30 min. from DT Austin and 12 miles from The Domain, with Westlake Hills, Lakeway, and Steiner Ranch nearby. On-site common areas include a 3,000 sq/ft owners' lounge with a conference room, commercial-grade kitchen, mixer lounge, terrace, and views of Lake Travis and the Texas Hill Country.
Key Highlights
- Approximately 490 customizable sq ft with 301 sq ft at ground level and 189 sq ft mezzanine
- Private roll‑up door with 25'+ drive‑up access
- Concrete‑and‑steel facility built in 2022
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
$9,982
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
6.24%
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%
$199,640
$199.6K
Cap Rate 7%
$142,600
$142.6K
Cap Rate 9%
$110,911
$110.9K
Market Conditions
NOI Build-Up for 490 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
$17.6K $35.88/SF
− Vacancy
−$4.3K −$8.72/SF
EGI
$13.3K $27.16/SF
− OpEx
−$3.3K −$6.79/SF
NOI
$10.0K $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%
$199,640
Cap Rate 7%
$142,600
Cap Rate 9%
$110,911
Alternative Uses
Best Use
Office B
$142.6K
$124.8K – $166.4K
NOI $9,982 @ 7.0% cap · market cap 6.24%
Second Best
Warehouse
$76.1K
$66.6K – $88.7K
NOI $5,324 @ 7.0% cap · market cap 3.33%
Theoretical Best
Office A
$192.0K
$168.0K – $224.0K
NOI $13,441 @ 7.0% cap · market cap 8.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Yes
Sprinkler system
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
149
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 78734, TX
22,963
Population
10,885
Households
2.1
Avg Household Size
47
Median Age
59%
College-Educated
94%
High-School Grad
18.9 sq mi
ZIP Area
1,215
Density / Sq Mi
$129,116
Median Household Income
$67,881
Median Earnings
$1,930
Median Rent
$626,100
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?
Flex space - Concrete-and-steel construction combines private access, flexible work area, and shared amenities for business or personal use.
Where is this flex space located?
The property is located at 4229 N FM 620 RD # 203 Austin, TX.
What is the asking price?
The asking price for this property is $159,900.
What are key features of this property?
This property features: Approximately 490 customizable sq ft with 301 sq ft at ground level and 189 sq ft mezzanine; Private roll‑up door with 25'+ drive‑up access; Concrete‑and‑steel facility built in 2022
