Elgin Office and Industrial
For Sale
$45,000,000
7207 - 3 Oaks Mine Offices - Luminant, Elgin, TX 78621
7207 FM 696, Elgin, TX 78621
Property Size100,322 SF
Lot Size80.00 Acres
Price / SF$448.56
Days on Market283
Property Features for 7207 - 3 Oaks Mine Offices - Luminant
General Information
Standard status
Active
Property type
Manufacturing properties, Warehouses, Other office properties, Industrial properties, Office Spaces
Size
100,322 SF
Lot size
80.00 Acres
Listing Agency:
Keller Williams Realty Austin
Listed By:
Jeffrey Slanker · License #617990
(512) 963-3926
Added: Jan 7
Changed: Mar 16
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located at 7207 Farm to Market 696 in Elgin, TX, the former Three Oaks Mine Offices are available for purchase. The property spans approximately 80 acres, with additional acreage potentially available. It features three buildings, a security gate, and industrial machinery. Constructed in the late 2000s, the facilities were actively used until August 2023 and are presently utilized intermittently, with limited reclamation activities in progress. Annual Equipment Certifications are up-to-date, and mandatory inspections and maintenance are kept current. The primary office building is semi-furnished and includes multiple offices, conference rooms, open work spaces, break areas, and locker rooms. A separate building offers versatile functional uses, and a spacious warehouse is available for equipment storage. Property highlights include outdoor lighting for 24-hour operational needs, a fuel station, a large equipment wash facility, a laydown yard, and a communication/cell tower. The property is served by water, sewer, electric, natural gas, and high-speed telecom infrastructure. This property presents an investment opportunity for companies seeking office and industrial space in a growing area.
Key Highlights
- Primary office building (with multiple offices, conference rooms, open workspace, break areas, locker rooms), a separate versatile secondary building, and a large warehouse component.
- Security gate, outdoor lighting for 24‑hour operations, industrial equipment, lay‑down yard, dedicated fuel station and equipment wash facility, and a communication/cell tower.
- Served by water, sewer, electric, natural gas and high‑speed telecom infrastructure.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$2,392,228
Cap Rate
5.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$47,844,560
$47.8M
Cap Rate 7%
$34,174,686
$34.2M
Cap Rate 9%
$26,580,311
$26.6M
Market Conditions
NOI Build-Up for 100,322 SF
Gross rent
$4.21M $42.00/SF
− Vacancy
−$1.02M −$10.21/SF
EGI
$3.19M $31.79/SF
− OpEx
−$797.4K −$7.95/SF
NOI
$2.39M $23.85/SF
Area
Bastrop 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 Rate 5%
$47,844,560
Cap Rate 7%
$34,174,686
Cap Rate 9%
$26,580,311
Alternative Uses
Best Use
Office B
$34.17M
$29.90M – $39.87M
NOI $2,392,228 @ 7.0% cap · market cap 5.32%
Second Best
Warehouse
$14.43M
$12.63M – $16.83M
NOI $1,010,023 @ 7.0% cap · market cap 2.24%
Theoretical Best
Office A
$39.31M
$34.40M – $45.86M
NOI $2,751,898 @ 7.0% cap · market cap 6.12%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
Explore this area
Business Placement
Demographics for 78621, TX
27,275
Population
10,671
Households
2.6
Avg Household Size
36
Median Age
24%
College-Educated
81%
High-School Grad
177.7 sq mi
ZIP Area
153
Density / Sq Mi
$88,246
Median Household Income
$48,955
Median Earnings
$1,317
Median Rent
$262,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Manufacturing property - 7207 FM 696, Elgin, TX 78621
Where is this manufacturing property located?
The property is located at 7207 - 3 Oaks Mine Offices - Luminant Elgin, TX.
What is the asking price?
The asking price for this property is $45,000,000.
What are key features of this property?
This property features: Primary office building (with multiple offices, conference rooms, open workspace, break areas, locker rooms), a separate versatile secondary building, and a large warehouse component.; Security gate, outdoor lighting for 24‑hour operations, industrial equipment, lay‑down yard, dedicated fuel station and equipment wash facility, and a communication/cell tower.; Served by water, sewer, electric, natural gas and high‑speed telecom infrastructure.
