Newly Constructed Office
For Sale
Contact for pricing
701 Crystal Falls Parkway, Leander, TX 78641
Fully finished, move-in ready office condo units for sale in Leander, Texas.
Property Size871 SF
Price / SF$384.62
Days on Market129
Property Features for 701 Crystal Falls Parkway
General Information
Standard status
Active
Size
871 SF
Class
A
Property subtype
Office
Lease Type
NNN
Investment Type
Owner/User
Building Details
Year Built
2026
Buildings
2
Stories
1
Units
2
Listing Agency:
Fullcircle Real Estate
Listed By:
Swarna Lakshmi Mohan · License #657184
Source:
Crexi
Added: Apr 16
Changed: Aug 22
Last Checked: Aug 21 at 2:44PM
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 Fullcircle Real Estate
Investment Insights
Based on property information with market context.
Crystal Falls Commons offers newly constructed office condominium units that are fully finished and ready to move in. The property is presented for sale and is designed to support flexible occupancy for businesses that want a finished office space without additional buildout.
Located at 607 Crystal Falls Parkway in Leander, Texas, the asset sits within the Greater Austin MSA. As an office-oriented condominium offering, it provides an ownership structure for eligible buyers looking for office space that is already completed and operationally ready.
The property is an office-focused commercial real estate opportunity within a suburban growth corridor, with the convenience of move-in readiness built into the condominium configuration.
Located at 607 Crystal Falls Parkway in Leander, Texas, the asset sits within the Greater Austin MSA. As an office-oriented condominium offering, it provides an ownership structure for eligible buyers looking for office space that is already completed and operationally ready.
The property is an office-focused commercial real estate opportunity within a suburban growth corridor, with the convenience of move-in readiness built into the condominium configuration.
Key Highlights
- Newly built office condominium units (Year Built: 2026) in Leander, Texas.
- Fully finished and move‑in ready office condo units for sale.
- Office condo units offered for owner‑users or investors.
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
$20,769
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
6.20%
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%
$415,380
$415.4K
Cap Rate 7%
$296,700
$296.7K
Cap Rate 9%
$230,767
$230.8K
Market Conditions
NOI Build-Up for 871 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
$36.6K $42.00/SF
− Vacancy
−$8.9K −$10.21/SF
EGI
$27.7K $31.79/SF
− OpEx
−$6.9K −$7.95/SF
NOI
$20.8K $23.85/SF
Area
Travis County, TX
Vacancy
24.30%
Lease Rate
$42.00 /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%
$415,380
Cap Rate 7%
$296,700
Cap Rate 9%
$230,767
Alternative Uses
Best Use
Office B
$296.7K
$259.6K – $346.2K
NOI $20,769 @ 7.0% cap · market cap 6.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$364.1K
$318.6K – $424.8K
NOI $25,487 @ 7.0% cap · market cap 7.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
488
Businesses Nearby
Explore this area
Business Placement
Demographics for 78641, TX
83,426
Population
33,118
Households
2.5
Avg Household Size
36
Median Age
51%
College-Educated
95%
High-School Grad
124.4 sq mi
ZIP Area
671
Density / Sq Mi
$131,421
Median Household Income
$61,185
Median Earnings
$1,873
Median Rent
$453,100
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 units - Fully finished, move-in ready office condo units for sale in Leander, Texas.
Where is this office units located?
The property is located at 701 Crystal Falls Parkway Leander, TX.
What is the asking price?
The asking price for this property is $335,000.
What are key features of this property?
This property features: Newly built office condominium units (Year Built: 2026) in Leander, Texas.; Fully finished and move‑in ready office condo units for sale.; Office condo units offered for owner‑users or investors.
