Historic Georgetown Square Retail
For Sale
$1,550,000
820 S Austin Ave, Georgetown, TX 78626
1923-era storefront building with high ceilings and a mezzanine, positioned on Georgetown Square for walk-in retail.
Property Size2,500 SF
Price / SF$626.26
Days on Market67
Property Features for 820 S Austin Ave
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Commercial
Building Details
Building Size
2,500 SF
Year Built
1923
Listing Agency:
Wolf Real Estate
(512) 966-0117
Listed By:
James Wolf · License #0596048
(512) 966-0117
Source:
Elliman
Added: Jun 3
Changed: Aug 8
Last Checked: Jun 6 at 5:17AM
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 Wolf Real Estate
Investment Insights
Based on property information with market context.
Built in 1923, this Georgetown Square retail building offers 2,475 SF within a historic downtown setting. The space features high ceilings and includes a mezzanine, providing additional usable area and a distinctive architectural character.
The building is located at 820 S Austin Ave, on Georgetown Square. It benefits from the walkable downtown environment associated with the Square.
This property may be a strong fit for owner-operators or buyers seeking a heritage retail location with an internal mezzanine. With owner financing available to qualified buyers, it can also be considered by investors looking for an acquisition structure that does not rely solely on traditional lending.
The building is located at 820 S Austin Ave, on Georgetown Square. It benefits from the walkable downtown environment associated with the Square.
This property may be a strong fit for owner-operators or buyers seeking a heritage retail location with an internal mezzanine. With owner financing available to qualified buyers, it can also be considered by investors looking for an acquisition structure that does not rely solely on traditional lending.
Key Highlights
- 1923‑era storefront building with 2,475 SF on Georgetown Square
- High ceilings and a mezzanine
- Positioned on Georgetown Square for walk‑in retail
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
$43,580
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
2.81%
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%
$871,600
$871.6K
Cap Rate 7%
$622,571
$622.6K
Cap Rate 9%
$484,222
$484.2K
Market Conditions
NOI Build-Up for 2,475 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
$64.4K $26.04/SF
− Vacancy
−$2.2K −$0.89/SF
EGI
$62.3K $25.15/SF
− OpEx
−$18.7K −$7.55/SF
NOI
$43.6K $17.61/SF
Area
Williamson County, TX
Vacancy
3.40%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
30.00%
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%
$871,600
Cap Rate 7%
$622,571
Cap Rate 9%
$484,222
Alternative Uses
Best Use
Retail
$622.6K
$544.8K – $726.3K
NOI $43,580 @ 7.0% cap · market cap 2.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.03M
$905.3K – $1.21M
NOI $72,423 @ 7.0% cap · market cap 4.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,720
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78626, TX
39,935
Population
16,866
Households
2.4
Avg Household Size
34
Median Age
36%
College-Educated
90%
High-School Grad
88.6 sq mi
ZIP Area
451
Density / Sq Mi
$94,967
Median Household Income
$44,955
Median Earnings
$1,752
Median Rent
$358,500
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - 1923-era storefront building with high ceilings and a mezzanine, positioned on Georgetown Square for walk-in retail.
Where is this storefront property located?
The property is located at 820 S Austin Ave Georgetown, TX.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: 1923‑era storefront building with 2,475 SF on Georgetown Square; High ceilings and a mezzanine; Positioned on Georgetown Square for walk‑in retail
