Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    5997 Dillard Cir Austin, TX

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    2.4235-acre land site ideal for multifamily, mixed-use, or office developments.

    Type:LAND
    Lot size:
    2.42 Acres
    Added:
    Jul 21, 2021
    Days on Market:
    1739
    Last Refresh:
    Apr 5 at 11:28 pm

    Property Features for 5997 Dillard Cir

    General Information

    Standard status
    Active
    Lot size
    2.42 Acres
    Property subtype
    LAND

    Spaces For Lease

    at 5997 Dillard Cir Contact us

    We can help!

    Listing Contact
    Jay Lamy

    Listing agent Jay Lamy

    Listing office Aquila Commercial

    Listing date Jul 21, 2021

    Source Moodyscre

    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 Aquila Commercial

    Overview

    Land in Highland Redevelopment Area

    Available for ground lease, this 2.4235-acre land site is located just off Airport Boulevard near the Highland Redevelopment in Central Austin. The site neighbors The Brewtorium and the recently completed ACC Highland campus and is a short drive to The Triangle, Mueller, and downtown Austin. The site is ideal for multifamily, mixed-use, or office developments. The Highland Redevelopment area is growing rapidly and offers convenient access to IH-35 and Hwy 290.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Law Firm Spa & Massage Center Dental Office Restaurant Hair Salon Nail Salon Building Supply Daycare Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Austin
    County
    Hays
    State
    Texas
    Longitude
    -97.7168
    Latitude
    30.3259

    Nearby Similar for Lease

    • $6,500/Mo

      East Austin Commercial Space Available

      Flexible commercial space with parking in vibrant East Austin.
      1901 E 12th ST, Austin, TX 78702
      View Details
    • $5,000/Mo

      Renovated Commercial Space with Yard

      Adaptable 2,342 SF commercial space with outdoor area in Austin.
      2008 E 12th ST, Austin, TX 78702
      View Details
    • $1,200/Mo

      Customizable Office Space with Amenities

      Private corner unit with water source, amenities, and lake views.
      4229 N FM 620 Rd 208, Austin, TX 78734
      View Details
    • $5,000/Mo

      Highway 290 Commercial Flex Space

      Versatile commercial space with excellent frontage and high traffic counts.
      9219 Highway 290 W, Austin, TX 78736
      View Details
    • $6,500/Mo

      Highway 290 Commercial Flex Space

      Versatile 3,200 SF space with high visibility and ample parking.
      9221 Highway 290 W, Austin, TX 78736
      View Details
    • $5,000/Mo

      Prime North Lamar Retail Opportunity

      High-visibility commercial space on North Lamar Boulevard in central Austin.
      3501 N Lamar Blvd, Austin, TX 78705
      View Details
    • $5,656/Mo

      New Southwest Austin Flex Space

      New flex industrial development in Southwest Austin for sale or lease.
      10020 Darden Hill Road, Unit 401, Austin, TX 78737
      View Details
    • $40 SF/Yr

      South Austin Restaurant Space Available

      Prime restaurant space in 78704 with heavy foot traffic.
      Austin, TX 78704
      View Details
    • Contact for pricing

      13038 North Highway 183, Austin, TX 78750

      Highly visible auto sales site in Northwest Austin's vehicle corridor.
      13038 State Highway 183 North, Austin, TX 78750
      View Details
    • $15 SF/Yr

      Versatile Industrial/Showroom Space Available

      5,500 SF flex space in established Austin industrial area.
      Austin, TX 78758
      View Details
    • $1,295/Mo

      Austin Office Space For Lease

      Office space in Austin's tech scene, available immediately.
      12702 Sherbourne St, Austin, TX 78729
      View Details
    • $2,000/Mo

      Automotive Repair Bays For Lease

      Automotive repair bays available now in prime location.
      5225 E Cesar Chavez St 1, Austin, TX 78702
      View Details

    FAQs

    What type of property is this?
    Land - 2.4235-acre land site ideal for multifamily, mixed-use, or office developments.
    Where is this land located?
    The property is located at 5997 Dillard Cir Austin, TX.
    What are key features of this property?
    This property features: Located in the rapidly growing Highland Redevelopment area.; 2.4235‑acre land site available for ground lease.; Ideal for multifamily, mixed‑use, or office developments.
    (512) 423-0468 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Jay Lamy
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!