Mixed-Use Property with
For Sale
$1,050,000
Pending
605 W West 18th Street N, Austin, TX 78701
Office space and a rear efficiency apartment combine within a recently refreshed downtown commercial property.
Property Size2,200 SF
Days on Market879
Property Features for 605 W West 18th Street N
General Information
Standard status
Pending
Size
2,200 SF
Additional Details
Asking Price
$1,050,000
Listing Agency:
Bryan Bjerke
(214) 396-3888
Listed By:
Carlos Gonzales · License #0507121
(512) 825-0065
Source:
Exprealty
Added: May 26, 2024
Changed: Oct 10
Last Checked: Oct 20 at 8:49PM
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 Bryan Bjerke
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Investment Insights
Based on property information with market context.
This mixed-use property includes a 2,200-square-foot office area at the front and a small efficiency apartment positioned at the rear. Fresh interior and exterior paint updates the property, while wood flooring adds a defined finish throughout the existing improvements.
The building is located at 605 W 18th St in Austin, with access to downtown destinations including the Capitol, The University of Texas, and the new courthouse. Its combination of office and residential components creates a compact mixed-use configuration in central Austin.
The building is located at 605 W 18th St in Austin, with access to downtown destinations including the Capitol, The University of Texas, and the new courthouse. Its combination of office and residential components creates a compact mixed-use configuration in central Austin.
Key Highlights
- 2,200‑square‑foot front office area
- Small efficiency apartment at the rear
- Fresh interior and exterior paint
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,816
Cap Rate
4.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$896,320
$896.3K
Cap Rate 7%
$640,229
$640.2K
Cap Rate 9%
$497,956
$498.0K
Market Conditions
NOI Build-Up for 2,200 SF
Gross rent
$78.9K $35.88/SF
− Vacancy
−$19.2K −$8.72/SF
EGI
$59.8K $27.16/SF
− OpEx
−$14.9K −$6.79/SF
NOI
$44.8K $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 Rate 5%
$896,320
Cap Rate 7%
$640,229
Cap Rate 9%
$497,956
Alternative Uses
Best Use
Office B
$640.2K
$560.2K – $746.9K
NOI $44,816 @ 7.0% cap · market cap 4.27%
Second Best
Mixed Use
$530.4K
$464.1K – $618.8K
NOI $37,125 @ 7.0% cap · market cap 3.54%
Theoretical Best
Office A
$862.1K
$754.3K – $1.01M
NOI $60,347 @ 7.0% cap · market cap 5.75%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
5,684
Businesses Nearby
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Business Placement
Demographics for 78701, TX
11,625
Population
8,021
Households
1.4
Avg Household Size
38
Median Age
81%
College-Educated
96%
High-School Grad
1.5 sq mi
ZIP Area
7,750
Density / Sq Mi
$154,867
Median Household Income
$106,932
Median Earnings
$2,732
Median Rent
$653,600
Median Home Value
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Market
Vacancy Rate% for Office in Austin, TX
Frequently Asked Questions
What type of property is this?
Mixed-use property - Office space and a rear efficiency apartment combine within a recently refreshed downtown commercial property.
Where is this mixed-use property located?
The property is located at 605 W West 18th Street N Austin, TX.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 2,200‑square‑foot front office area; Small efficiency apartment at the rear; Fresh interior and exterior paint
