Medical Building Near St.
For Sale
Contact for pricing
2200 Park Bend Dr, Austin, TX 78758
20,000 SF medical building near St. David's North Austin.
Property Size20,000 SF
Price / SF$525
Days on Market684
Property Features for 2200 Park Bend Dr
General Information
Standard status
Active
Size
20,000 SF
Total Parking Spaces
120
Property subtype
Office
Zoning
GO-MU-CO
Occupancy
100%
Lease Type
NNN
Net Operating Income
$720,000
Building Details
Year Built
2004
Stories
3
Units
2
Tenancy
Multi
Listing Agency:
Sayers Real Estate Advisors Inc
Listed By:
Jake Malone · License #TX 728554
(512) 897-3075
Source:
Crexi
Added: Oct 21, 2024
Changed: Aug 27
Last Checked: Aug 28 at 9:52AM
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 Sayers Real Estate Advisors Inc
Investment Insights
Based on property information with market context.
This 20,000 square foot medical building is located adjacent to St. David's Medical Center within the North Austin Medical Corridor. The multi-tenant property is fully leased to Austin Thyroid & Endocrinology and Austin Premier Surgical Center, with 5 and 7 years remaining on their respective leases. It is located within a mile of the Domain, a shopping destination, and Q2 stadium. Proximity to Loop 1 and Interstate 35 allows for convenient access.
Key Highlights
- 100% leased to long‑term tenants including Austin Thyroid & Endocrinology, and Austin Premier Surgical Center.
- Located adjacent to St. David's North Austin Medical Center.
- Strategically located within the North Austin Medical Corridor.
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
$407,417
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
3.88%
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%
$8,148,340
$8.1M
Cap Rate 7%
$5,820,243
$5.8M
Cap Rate 9%
$4,526,856
$4.5M
Market Conditions
NOI Build-Up for 20,000 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
$717.6K $35.88/SF
− Vacancy
−$174.4K −$8.72/SF
EGI
$543.2K $27.16/SF
− OpEx
−$135.8K −$6.79/SF
NOI
$407.4K $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 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%
$8,148,340
Cap Rate 7%
$5,820,243
Cap Rate 9%
$4,526,856
Alternative Uses
Best Use
Office B
$5.82M
$5.09M – $6.79M
NOI $407,417 @ 7.0% cap · market cap 3.88%
Second Best
Healthcare Medical
$3.76M
$3.29M – $4.39M
NOI $263,520 @ 7.0% cap · market cap 2.51%
Theoretical Best
Office A
$7.84M
$6.86M – $9.14M
NOI $548,613 @ 7.0% cap · market cap 5.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,561
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78758, TX
49,831
Population
25,745
Households
1.9
Avg Household Size
32
Median Age
46%
College-Educated
85%
High-School Grad
9.1 sq mi
ZIP Area
5,476
Density / Sq Mi
$69,019
Median Household Income
$47,685
Median Earnings
$1,549
Median Rent
$419,300
Median Home Value
Market
Vacancy Rate% for Office in Austin, TX
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Austin Vet Care: Karlinger-Smit Tracy DVM — 12419 Metric Blvd #2521, Austin, TX 78758
- Austin Animal Eye Clinic — 12419 metric blvd, austin, tx 78758
- Austin Veterinary Surgical Center — 12419 Metric Blvd #2521, Austin, TX 78758
- Austin Vet Care: Palermo Nicole DVM — 12419 metric blvd, austin, tx 78758
- Austin Vet Care: Callaway Nancy DVM — 12419 metric blvd, austin, tx 78758
Frequently Asked Questions
What type of property is this?
Medical Office Space - 20,000 SF medical building near St. David's North Austin.
Where is this medical office space located?
The property is located at 2200 Park Bend Dr Austin, TX.
What is the asking price?
The asking price for this property is $10,500,000.
What are key features of this property?
This property features: 100% leased to long‑term tenants including Austin Thyroid & Endocrinology, and Austin Premier Surgical Center.; Located adjacent to St. David's North Austin Medical Center.; Strategically located within the North Austin Medical Corridor.
