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    Drive-Thru End Cap Strip Center Title is generated by Realmo AI

    635 University Blvd, Round Rock, TX 78665

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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.

    Type:Retail
    Property size:
    11,462 SF
    Price / SF:
    $593/SF
    Added:
    May 27, 2026
    Days on Market:
    11
    Last Refresh:
    Jun 6 at 4:14 am

    Property Features for 635 University Blvd

    General Information

    Standard status
    Active
    Size
    11,462 SF
    Property subtype
    Retail

    Building Details

    Year Built
    2021

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    Listing Contact
    Hudson Lambert
    Hudson Lambert

    Listing agent Hudson Lambert License #TX 724882

    Listing office Summit Real Estate

    Listing date May 27, 2026

    Source Crexi

    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

    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
    • Frontage on University Blvd with 35,127 vehicles per day
    • 5.5‑year WALT and in‑place cash flow with embedded rent growth across 75% of GLA
    • Ample parking with a 5.06 per 1,000 SF parking ratio

    Overview

    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.
    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

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Round Rock
    County
    Williamson
    State
    Texas
    Longitude
    -97.676372
    Latitude
    30.562824

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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
    (469) 844-8884 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Hudson Lambert
    Hudson Lambert
    Real Estate License ID: TX 724882
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    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.

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