Drive-Thru End Cap Strip
635 University Blvd Round Rock, TX 78665
635 University Blvd, Round Rock, TX, 78665
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For Sale
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Built in 2021, this Class A strip center combines NNN leases with a drive-thru end cap and convenient University Blvd access.
Property Size11,462 SF
Price / SF$593.26
Days on Market56
Property Features for 635 University Blvd
General Information
- Standard status
- Active
- Size
- 11,462 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2021
Listing agency
Summit Real Estate
(469) 844-8884
Listed by
Hudson Lambert · License #TX 724882
Source
Crexi
Added: May 27 Updated: Jul 10 at 1:51PM Checked: Jul 19 at 8:30AM
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 Summit Real Estate
Investment Insights
Based on property information with market context.
Shops at University is a Class A, six-tenant strip center built in 2021, offered as a fully occupied retail property with NNN leases. The center includes a drive-thru end cap and features a service-oriented tenant mix spanning national, regional, and local operators. Parking is plentiful, with an indicated 5.06 spaces per 1,000 SF, and the site provides multiple points of ingress and egress.
The property fronts University Blvd in Round Rock, Texas, one of the area’s primary retail corridors, with 35,127 vehicles per day cited in the materials. Additional location context referenced in the remarks includes a Round Rock retail environment with 96.7% retail occupancy and dense surrounding retail activity.
For investors or operators evaluating an NNN retail asset, this property is positioned with a 5.5-year weighted average lease term (WALT) and materials note embedded rent growth across 75% of the GLA. The current rents are described as approximately 15% below market, with the remarks also indicating meaningful mark-to-market opportunity where leases are not yet at current market levels. The existing occupancy and lease structure make it suitable for those seeking a stabilized, service-oriented retail strip center with a drive-thru component.
The property fronts University Blvd in Round Rock, Texas, one of the area’s primary retail corridors, with 35,127 vehicles per day cited in the materials. Additional location context referenced in the remarks includes a Round Rock retail environment with 96.7% retail occupancy and dense surrounding retail activity.
For investors or operators evaluating an NNN retail asset, this property is positioned with a 5.5-year weighted average lease term (WALT) and materials note embedded rent growth across 75% of the GLA. The current rents are described as approximately 15% below market, with the remarks also indicating meaningful mark-to-market opportunity where leases are not yet at current market levels. The existing occupancy and lease structure make it suitable for those seeking a stabilized, service-oriented retail strip center with a drive-thru component.
Key Highlights
- Built in 2021, Class A 6‑tenant retail strip center in Round Rock, TX
- Fully occupied property with NNN leases and a service‑oriented tenant mix
- Drive‑thru end cap plus multiple ingress/egress points off University Blvd
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $316.4k | $27.60 |
| − Vacancy | −$10.8k | −$0.94 |
| EGI | $305.6k | $26.66 |
| − OpEx | −$91.7k | −$8.00 |
| NOI | $213.9k | $18.66 |
11,462 SF · lease $27.60/SF/yr · vacancy 3.40% · expense 30.00%
Alternative Uses
Best Use
Retail
$3.06M
$2.67M – $3.57M
NOI $213,917 @ 7.0% cap · market cap 3.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.63M
$3.18M – $4.24M
NOI $254,181 @ 7.0% cap · market cap 3.74%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
365 SMOKE VAPE ...
(Bike/Boat/Book/etc) Store
PRIME NAILS BAR
Nail Salon
Jersey Mike's
Take-out & Catering
HOTWORX [Yoga, Pilates, ...
Gym & Fitness Center
HOTWORX - Round Rock, ...
Gym & Fitness Center
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FAQs
What type of property is this?
Strip mall - Built in 2021, this Class A strip center combines NNN leases with a drive-thru end cap and convenient University Blvd access.
Where is this strip mall located?
The property is located at 635 University Blvd Round Rock, TX.
What is the asking price?
The asking price for this property is $6,800,000.
What are key features of this property?
This property features: Built in 2021, Class A 6‑tenant retail strip center in Round Rock, TX; Fully occupied property with NNN leases and a service‑oriented tenant mix; Drive‑thru end cap plus multiple ingress/egress points off University Blvd
