Updated Office Building with
For Sale
$699,000
601 Spring St, Round Rock, TX 78664
Office building with a flexible layout, open workspace, full-size kitchen, reception area, and five office spaces.
Property Size2,880 SF
Price / SF$242.71
Days on Market138
Property Features for 601 Spring St
General Information
Standard status
Active
Size
2,880 SF
Property subtype
Office
Zoning
Single-Family with MU-2 Overlay
Additional Details
Office Units
5
Taxes and HOA fees
Annual Taxes
$11,729
Amenities
reception area
multiple storage spaces
large open workspace
full-size kitchen
Central Air
3
Parking. Attached Parking.
6 Parking Spaces. Attached Carport, Open Parking, Paved Driveway, Driveway, Private, Off Street, Asphalt, Circular Driveway.
Building Details
Year Built
1970
Listing Agency:
Keller Williams Realty Lone Star
Listed By:
Robert Fischer · License #0538860
(512) 994-0247
Source:
Xome
Added: Apr 20
Changed: Sep 2
Last Checked: Sep 4 at 2:05AM
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 Keller Williams Realty Lone Star
Investment Insights
Based on property information with market context.
This updated office building offers a flexible interior layout designed to support multiple professional configurations. The space includes five office spaces, with one well-suited as a large conference room, along with a reception area, a large open workspace, three full bathrooms, and multiple storage spaces. A full-size kitchen is also included.
The property is located in central Round Rock, on a large lot with ample parking and a circular drive that supports convenient ingress and egress for employees, clients, and visitors.
Zoning is Single-Family with a MU-2 overlay within the City of Round Rock. Commercial uses may be permitted, but are subject to City approval and applicable zoning requirements, with potential uses referenced in Section 2.77 of the City of Round Rock Zoning Ordinance.
The property is located in central Round Rock, on a large lot with ample parking and a circular drive that supports convenient ingress and egress for employees, clients, and visitors.
Zoning is Single-Family with a MU-2 overlay within the City of Round Rock. Commercial uses may be permitted, but are subject to City approval and applicable zoning requirements, with potential uses referenced in Section 2.77 of the City of Round Rock Zoning Ordinance.
Key Highlights
- Office building with a flexible layout, including a reception area, large open workspace, and five office spaces (one set up as a conference room).
- 3 full bathrooms plus multiple storage spaces, along with a full‑size kitchen.
- Central air cooling and heating system listed as “3”.
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
$45,814
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
6.55%
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%
$916,280
$916.3K
Cap Rate 7%
$654,486
$654.5K
Cap Rate 9%
$509,044
$509.0K
Market Conditions
NOI Build-Up for 2,880 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
$86.4K $30.00/SF
− Vacancy
−$25.3K −$8.79/SF
EGI
$61.1K $21.21/SF
− OpEx
−$15.3K −$5.30/SF
NOI
$45.8K $15.91/SF
Area
Round Rock, TX
Vacancy
29.30%
Lease Rate
$30.00 /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%
$916,280
Cap Rate 7%
$654,486
Cap Rate 9%
$509,044
Alternative Uses
Best Use
Office B
$654.5K
$572.7K – $763.6K
NOI $45,814 @ 7.0% cap · market cap 6.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$912.4K
$798.3K – $1.06M
NOI $63,867 @ 7.0% cap · market cap 9.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Office units
Location Intelligence
Trade Area within ½ mile
1,792
Businesses Nearby
Explore this area
Business Placement
Demographics for 78664, TX
60,287
Population
24,259
Households
2.5
Avg Household Size
34
Median Age
35%
College-Educated
90%
High-School Grad
16.6 sq mi
ZIP Area
3,632
Density / Sq Mi
$85,919
Median Household Income
$45,700
Median Earnings
$1,645
Median Rent
$317,400
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 building - Office building with a flexible layout, open workspace, full-size kitchen, reception area, and five office spaces.
Where is this office building located?
The property is located at 601 Spring St Round Rock, TX.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Office building with a flexible layout, including a reception area, large open workspace, and five office spaces (one set up as a conference room).; 3 full bathrooms plus multiple storage spaces, along with a full‑size kitchen.; Central air cooling and heating system listed as “3”.
