Medical Office
For Sale
Contact for pricing
6500 McNeil Drive, Austin, TX 78729
Freestanding medical office property on a NW corner site near Highway 183.
Property Size4,164 SF
Price / SF$336.22
Days on Market98
Property Features for 6500 McNeil Drive
General Information
Standard status
Active
Size
4,164 SF
Class
B
Property subtype
Retail, Office
Building Details
Tenancy
Multi
Listing Agency:
Don Quick & Associates Inc
Listed By:
Brent Campbell · License #TX 505073
(512) 814-1814
Source:
Crexi
Added: Jun 3
Changed: Sep 5
Last Checked: Sep 7 at 5:05AM
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 Don Quick & Associates Inc
Investment Insights
Based on property information with market context.
This property is a medical office facility built for general or medical office use. It is offered for sale as a standalone asset designed to support professional office operations.
The building is located on the northwest corner of McNeil Dr and Dakota Ln, approximately one mile east of Highway 183. That corner positioning provides straightforward site access and clear identity for the property along the main drive.
For buyers seeking an owner-occupied or investment-oriented medical office, the existing office-oriented configuration and dedicated use profile can help streamline tenant fit. The proximity to Highway 183 supports convenient regional access for staff and patients, making it a practical option for established medical and professional services looking for a purpose-built office setting.
The building is located on the northwest corner of McNeil Dr and Dakota Ln, approximately one mile east of Highway 183. That corner positioning provides straightforward site access and clear identity for the property along the main drive.
For buyers seeking an owner-occupied or investment-oriented medical office, the existing office-oriented configuration and dedicated use profile can help streamline tenant fit. The proximity to Highway 183 supports convenient regional access for staff and patients, making it a practical option for established medical and professional services looking for a purpose-built office setting.
Key Highlights
- Freestanding medical office property on a NW corner site
- Located on the NW corner of McNeil Dr and Dakota Ln
- Just one mile east of Hwy 183
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
$84,824
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
6.06%
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%
$1,696,480
$1.7M
Cap Rate 7%
$1,211,771
$1.2M
Cap Rate 9%
$942,489
$942.5K
Market Conditions
NOI Build-Up for 4,164 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
$149.4K $35.88/SF
− Vacancy
−$36.3K −$8.72/SF
EGI
$113.1K $27.16/SF
− OpEx
−$28.3K −$6.79/SF
NOI
$84.8K $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 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%
$1,696,480
Cap Rate 7%
$1,211,771
Cap Rate 9%
$942,489
Alternative Uses
Best Use
Office B
$1.21M
$1.06M – $1.41M
NOI $84,824 @ 7.0% cap · market cap 6.06%
Second Best
Healthcare Medical
$783.8K
$685.8K – $914.4K
NOI $54,865 @ 7.0% cap · market cap 3.92%
Theoretical Best
Office A
$1.63M
$1.43M – $1.90M
NOI $114,221 @ 7.0% cap · market cap 8.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
549
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78729, TX
31,829
Population
15,717
Households
2
Avg Household Size
35
Median Age
61%
College-Educated
97%
High-School Grad
9.8 sq mi
ZIP Area
3,248
Density / Sq Mi
$81,589
Median Household Income
$54,271
Median Earnings
$1,613
Median Rent
$434,500
Median Home Value
Market
Vacancy Rate% for Office in Austin, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Freestanding medical office property on a NW corner site near Highway 183.
Where is this medical office space located?
The property is located at 6500 McNeil Drive Austin, TX.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Freestanding medical office property on a NW corner site; Located on the NW corner of McNeil Dr and Dakota Ln; Just one mile east of Hwy 183
