Versatile Property with Income
For Sale
$499,000
829 State Highway 21, Cedar Creek, TX 78612
Two-acre property with residential and commercial zoning near Austin.
Property Size4,572 SF
Lot Size2.00 Acres
Price / SF$109.14
Days on Market185
Property Features for 829 State Highway 21
General Information
Standard status
Active
Size
4,572 SF
Lot size
2.00 Acres
Listing Agency:
TS Realty
Listed By:
Elizabeth Schmidtberger · License #0690215
(210) 269-9940
Source:
Cornerstone-properties
Added: Apr 24
Changed: Oct 25
Last Checked: Oct 24 at 5:07PM
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 TS Realty
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Investment Insights
Based on property information with market context.
This two-acre property in Cedar Creek, Texas, offers a blend of residential and commercial opportunities. Located off HWY 21, the property benefits from high traffic and visibility. The site includes a 5-bedroom home with an open kitchen and 2.5 bathrooms. The home has been freshly painted and features a wraparound deck. A detached shop provides additional storage or workspace. The commercial portion of the property includes a 2,492-square-foot warehouse with its own office and bathroom, which is currently rented and producing income. Additionally, there is a 1,200-square-foot pole barn for equipment, storage, or expansion. The property's location in the Austin metro corridor provides access to Austin, Bastrop, and surrounding areas. The property is partially residentially and partially commercially zoned, offering the possibility to run a business and live onsite. This property is suitable for entrepreneurs looking to combine home and business, investors seeking income-producing property, or those wanting space with commercial flexibility.
Key Highlights
- 2 acres with partial residential and partial commercial zoning off HWY 21.
- 2,492 sq ft warehouse with office and bathroom, currently rented for immediate income.**
- 5‑bedroom home with open kitchen, 2.5 bathrooms, and wraparound deck.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,907
Cap Rate
8.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$818,140
$818.1K
Cap Rate 7%
$584,386
$584.4K
Cap Rate 9%
$454,522
$454.5K
Market Conditions
NOI Build-Up for 4,572 SF
Gross rent
$68.0K $14.88/SF
− Vacancy
−$9.6K −$2.10/SF
EGI
$58.4K $12.78/SF
− OpEx
−$17.5K −$3.83/SF
NOI
$40.9K $8.95/SF
Area
Bastrop County, TX
Vacancy
14.10%
Lease Rate
$14.88 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$818,140
Cap Rate 7%
$584,386
Cap Rate 9%
$454,522
Alternative Uses
Best Use
Office B
$1.56M
$1.36M – $1.82M
NOI $109,022 @ 7.0% cap · market cap 21.85%
Second Best
Mixed Use
$1.08M
$943.0K – $1.26M
NOI $75,438 @ 7.0% cap · market cap 15.12%
Theoretical Best
Office A
$1.79M
$1.57M – $2.09M
NOI $125,413 @ 7.0% cap · market cap 25.13%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
43
Businesses Nearby
Explore this area
Business Placement
Demographics for 78612, TX
16,265
Population
5,981
Households
2.7
Avg Household Size
37
Median Age
21%
College-Educated
74%
High-School Grad
99.1 sq mi
ZIP Area
164
Density / Sq Mi
$90,925
Median Household Income
$39,263
Median Earnings
$1,642
Median Rent
$239,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-acre property with residential and commercial zoning near Austin.
Where is this mixed-use property located?
The property is located at 829 State Highway 21 Cedar Creek, TX.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 2 acres with partial residential and partial commercial zoning off HWY 21.; 2,492 sq ft warehouse with office and bathroom, currently rented for immediate income.**; 5‑bedroom home with open kitchen, 2.5 bathrooms, and wraparound deck.
