Turn-Key Office Condominium
For Sale
$375,000
506-10824 E Crystal Falls Pkwy, Leander, TX 78641
Turn-key office suite with three private offices, executive suite, breakroom, and private restroom in a high-visibility complex.
Property Size973 SF
Price / SF$385.41
Days on Market61
Property Features for 506-10824 E Crystal Falls Pkwy
General Information
Standard status
Active
Size
973 SF
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$8,884
Building Details
Tenancy
Multi
Listing Agency:
JBG Commercial
(512) 502-7580
Listed By:
Michael Ashby
(512) 820-2192
Source:
Exprealty
Added: Jul 7
Changed: Aug 31
Last Checked: Sep 5 at 10:28AM
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 JBG Commercial
Investment Insights
Based on property information with market context.
This turn-key office condominium suite is designed for immediate occupancy and includes three private offices plus an executive suite for principal work or private meetings. The unit also features a dedicated breakroom with a modern sink and storage, along with an in-suite private restroom for day-to-day convenience.
Located in the Crystal Falls Arbor complex at a high-traffic intersection, the property is positioned across from Wiley Middle School and Rouse High School, supporting consistent local visibility. Multiple concrete driveways provide direct transit off E Crystal Falls Parkway and Artesian Springs Boulevard.
The interior benefits from abundant natural light through oversized exterior windows, supporting a bright and workable environment for a professional office setup. An additional opportunity is available to purchase the adjoining suite (#505) with this property for ownership of two separate units or the option to combine into a larger operating space.
Located in the Crystal Falls Arbor complex at a high-traffic intersection, the property is positioned across from Wiley Middle School and Rouse High School, supporting consistent local visibility. Multiple concrete driveways provide direct transit off E Crystal Falls Parkway and Artesian Springs Boulevard.
The interior benefits from abundant natural light through oversized exterior windows, supporting a bright and workable environment for a professional office setup. An additional opportunity is available to purchase the adjoining suite (#505) with this property for ownership of two separate units or the option to combine into a larger operating space.
Key Highlights
- Turn‑key commercial office condominium in the Crystal Falls Arbor complex with 973 SF of space.
- Layout includes three private offices plus an executive suite for principal partners or private client meetings.
- Dedicated breakroom with a modern sink and storage, and an in‑suite private restroom.
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
$23,202
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
6.19%
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%
$464,040
$464.0K
Cap Rate 7%
$331,457
$331.5K
Cap Rate 9%
$257,800
$257.8K
Market Conditions
NOI Build-Up for 973 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
$40.9K $42.00/SF
− Vacancy
−$9.9K −$10.21/SF
EGI
$30.9K $31.79/SF
− OpEx
−$7.7K −$7.95/SF
NOI
$23.2K $23.85/SF
Area
Travis County, TX
Vacancy
24.30%
Lease Rate
$42.00 /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%
$464,040
Cap Rate 7%
$331,457
Cap Rate 9%
$257,800
Alternative Uses
Best Use
Office B
$331.5K
$290.0K – $386.7K
NOI $23,202 @ 7.0% cap · market cap 6.19%
Second Best
Healthcare Medical
$252.2K
$220.7K – $294.2K
NOI $17,654 @ 7.0% cap · market cap 4.71%
Theoretical Best
Office A
$406.7K
$355.9K – $474.5K
NOI $28,472 @ 7.0% cap · market cap 7.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
595
Businesses Nearby
Explore this area
Business Placement
Demographics for 78641, TX
83,426
Population
33,118
Households
2.5
Avg Household Size
36
Median Age
51%
College-Educated
95%
High-School Grad
124.4 sq mi
ZIP Area
671
Density / Sq Mi
$131,421
Median Household Income
$61,185
Median Earnings
$1,873
Median Rent
$453,100
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?
Office units - Turn-key office suite with three private offices, executive suite, breakroom, and private restroom in a high-visibility complex.
Where is this office units located?
The property is located at 506-10824 E Crystal Falls Pkwy Leander, TX.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Turn‑key commercial office condominium in the Crystal Falls Arbor complex with 973 SF of space.; Layout includes three private offices plus an executive suite for principal partners or private client meetings.; Dedicated breakroom with a modern sink and storage, and an in‑suite private restroom.
