Corner Flex Space With
For Sale
$199,000
4229 N Fm 620 #309, Austin, TX 78732
Versatile commercial condo with drive-up loading, supplemental cooling, and shared conference and client amenities.
Property Size450 SF
Price / SF$442.22
Days on Market67
Property Features for 4229 N Fm 620 #309
General Information
Standard status
Active
Size
450 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Additional Details
Floor
3
HOA Fee
$171
Amenities
Drive-up loading
Reception area
Conference room
Private bathrooms
Kitchenettes
Balcony with lake views
Building Details
Building Size
450 SF
Year Built
2023
Buildings
1
Listing Agency:
Rosal Realty Experts
(940) 372-3597
Listed By:
Jennifer Rosal · License #0667037
Source:
Buttross
Added: Jun 5
Changed: Aug 10
Last Checked: Aug 10 at 9:43AM
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 Rosal Realty Experts
Investment Insights
Based on property information with market context.
Unit 309 is a 450 SF corner flex condominium at XSpace Austin, completed in 2023. Its position at the top of the Level 3 entrance ramp supports straightforward access and drive-up loading. The space includes a mezzanine, expansive windows, and a mini-split air-conditioning system that supplements the building’s standard HVAC. The layout can accommodate office, studio, showroom, technology, or light commercial applications.
Shared facilities include a reception area, conference room with a large-screen TV and integrated phone system, private bathrooms, kitchenettes, and a balcony overlooking Lake Travis. Floor-to-ceiling windows in common areas add natural light to meeting and client spaces. All utilities are included through the HOA, and the unit is plumbed for future water and wastewater connections. The property is located at 4229 N FM 620 #309 in Austin, near Lake Travis.
Shared facilities include a reception area, conference room with a large-screen TV and integrated phone system, private bathrooms, kitchenettes, and a balcony overlooking Lake Travis. Floor-to-ceiling windows in common areas add natural light to meeting and client spaces. All utilities are included through the HOA, and the unit is plumbed for future water and wastewater connections. The property is located at 4229 N FM 620 #309 in Austin, near Lake Travis.
Key Highlights
- 450 SF corner unit at the top of the Level 3 entrance ramp
- Mezzanine level with expansive windows and abundant natural light
- Mini‑split air conditioning supplements the building’s standard HVAC
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
$9,167
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
4.61%
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%
$183,340
$183.3K
Cap Rate 7%
$130,957
$131.0K
Cap Rate 9%
$101,856
$101.9K
Market Conditions
NOI Build-Up for 450 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
$16.1K $35.88/SF
− Vacancy
−$3.9K −$8.72/SF
EGI
$12.2K $27.16/SF
− OpEx
−$3.1K −$6.79/SF
NOI
$9.2K $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%
$183,340
Cap Rate 7%
$130,957
Cap Rate 9%
$101,856
Alternative Uses
Best Use
Office B
$131.0K
$114.6K – $152.8K
NOI $9,167 @ 7.0% cap · market cap 4.61%
Second Best
Retail
$113.2K
$99.1K – $132.1K
NOI $7,924 @ 7.0% cap · market cap 3.98%
Theoretical Best
Office A
$176.3K
$154.3K – $205.7K
NOI $12,344 @ 7.0% cap · market cap 6.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
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 78732, TX
19,128
Population
7,748
Households
2.5
Avg Household Size
39
Median Age
75%
College-Educated
98%
High-School Grad
12.8 sq mi
ZIP Area
1,494
Density / Sq Mi
$194,120
Median Household Income
$81,083
Median Earnings
$1,884
Median Rent
$728,500
Median Home Value
Market
Vacancy Rate% for Office in Austin, TX
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Versatile commercial condo with drive-up loading, supplemental cooling, and shared conference and client amenities.
Where is this flex space located?
The property is located at 4229 N Fm 620 #309 Austin, TX.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: 450 SF corner unit at the top of the Level 3 entrance ramp; Mezzanine level with expansive windows and abundant natural light; Mini‑split air conditioning supplements the building’s standard HVAC
