Listing Agency: Don Quick & Associates Inc

Listed By: Darren Quick · License #TX 443913 Show Phone

Source: Crexi

Added: Dec 6, 2023 Changed: Aug 14 Last Checked: Aug 14 at 5:57AM

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Investment Insights

Based on property information with market context.

This 2,490 square foot building is situated on a 0.70-acre lot with GR Zoning. The property is a professional building in pristine condition, showcasing architectural craftsman highlights. Located on a large corner lot at 183 South Frontage Road and Oceanaire Blvd, adjacent to Balcones Country Club, it offers freeway visibility. The property could serve as an executive headquarters for various professional businesses, including tech and design firms, attorneys, and accountants, or as a retail opportunity, featuring both private rooms and an open collaborative area. It includes an abundance of parking for clients and staff, with easy access to Loop 360, Mopac, Hwy 620, and the Northwest Austin Tech Corridor. The former bank building retains its original bank vault. The building benefits from natural light, vaulted ceilings, two entrances, and landscaped grounds. The location offers frontage on the South bound 183 service road, between McNeil and Anderson Mill Road exits, with side street access and both front and back parking lots.

Key Highlights

• High visibility corner lot location on 183 South Frontage Road, adjacent to Balcones Country Club.
• Versatile GR Zoning suitable for professional offices (tech, design, legal, accounting) or retail.
• Pristine, architecturally distinctive 2,490 SF building with craftsman details.**

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$50,723

Cap Rate

2.90%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,014,460 $1.0M

Cap Rate 7%

$724,614 $724.6K

Cap Rate 9%

$563,589 $563.6K

Market Conditions

NOI Build-Up for 2,490 SF

Gross rent

$89.3K $35.88/SF

− Vacancy

−$21.7K −$8.72/SF

EGI

$67.6K $27.16/SF

− OpEx

−$16.9K −$6.79/SF

NOI

$50.7K $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 Rate 5%

$1,014,460

Cap Rate 7%

$724,614

Cap Rate 9%

$563,589

Alternative Uses

Best Use

Office B

$724.6K

$634.0K – $845.4K (±1% cap)

NOI $50,723 @ 7.0% cap · market cap 2.90%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$975.7K

$853.8K – $1.14M (±1% cap)

NOI $68,302 @ 7.0% cap · market cap 3.90%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Office buildings

Suggested Use

Top Pick Building Supply Law Firm Restaurant Big Box & Wholesale Store Dental Office Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,298

Businesses Nearby

Explore this area Business Placement

Demographics for 78750, TX

28,348

Population

12,186

Households

2.3

Avg Household Size

40

Median Age

63%

College-Educated

96%

High-School Grad

11.8 sq mi

ZIP Area

2,402

Density / Sq Mi

$123,722

Median Household Income

$62,096

Median Earnings

$1,743

Median Rent

$552,800

Median Home Value

Market

Vacancy Rate% for Office in Austin, TX

9.1% 2019

17.1% 2020

18.7% 2021

21.8% 2022

27.1% 2023

29.8% 2024

29% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Office building - Pristine 2,490 SF building on .70 acres with GR Zoning.

Where is this office building located?

The property is located at 13066 Research Blvd Austin, TX.

What is the asking price?

The asking price for this property is $1,750,000.

What are key features of this property?

This property features: High visibility corner lot location on 183 South Frontage Road, adjacent to Balcones Country Club.; Versatile GR Zoning suitable for professional offices (tech, design, legal, accounting) or retail.; Pristine, architecturally distinctive 2,490 SF building with craftsman details.**