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    401 Congress Ave Austin, TX 78701

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    For Lease
    Contact for pricing

    Austin Fitness Club Space - 73,397 SF

    Lot size:
    73,397 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    404
    Frost Tower, located at 401 Congress Ave in Austin, Texas, presents a unique opportunity for fitness-focused businesses. This prime retail space, totaling 73,397 square feet within a vibrant mixed-use development, offers multiple suites available for lease. The building features four total suites, with a minimum divisible space of 17,681 square feet and a maximum contiguous space of 20,354 square feet. Currently, the entire 73,397 square feet is vacant, providing a blank canvas for a large-scale fitness operation or the potential for multiple smaller tenants. The building's location in Travis County, within the 78701 zip code, ensures high visibility and accessibility. Parking is readily available, with a ratio of 2.7 spaces per 1,000 square feet. The Frost Tower is situated in a dynamic Austin neighborhood, offering convenient access to various amenities and a strong customer base. This exceptional property provides an unparalleled opportunity to establish a thriving fitness business in a highly desirable location. The building's existing infrastructure and convenient location make it an ideal space for a variety of fitness concepts. The property's size and layout offer flexibility for customization to meet specific business needs.

    Property Features for 401 Congress Ave

    General Information

    Property type
    Individual retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    73,397 SF

    Unit(s) available at that property

    Space
    Suite 3100
    Size
    17,681 SF
    Space
    Suite 3000
    Size
    17,681 SF
    Space
    Suite 2900
    Size
    17,681 SF
    Space
    Suite 2800
    Size
    20,354 SF

    We can help!

    Listing Contact
    Jake Ragusa

    Learn more

    Property Insight Report

    HighLights

    • 73,397 square feet of vacant retail space available for lease in Austin, TX's Frost Tower.
    • Four suites available, ranging from 17,681 to 20,354 square feet.
    • Prime location in the 78701 zip code with high visibility and accessibility.
    • Ample parking with a 2.7:1,000 sq ft ratio.
    • On‑site amenities include EV charging stations, a fitness center with locker rooms, sauna, showers, and towel service, a 2,000 sq ft tenant lounge, and a conference center.
    • Building security features include 24‑hour guards, dual security speed gate controlled tower access, and lobby security.
    Property Profile Location Intelligence

    Current Use by Public Records

    Modern Market Eatery ... Health Food Restaurant EVALTEQ Diagnostic Center Mills Jeffrey Lawyer SoulCycle Downtown Austin Physical Fitness Program Hipcricket Software Company

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Austin
    County
    Travis
    State
    Texas
    Longitude
    -97.74325
    Latitude
    30.2663278

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    FAQs

    What type of property is this?
    Individual retail property - Austin Fitness Club Space - 73,397 SF
    Where is this individual retail property located?
    The property is located at 401 Congress Ave Austin, TX.
    What are key features of this property?
    This property features: 73,397 square feet of vacant retail space available for lease in Austin, TX's Frost Tower.; Four suites available, ranging from 17,681 to 20,354 square feet.; Prime location in the 78701 zip code with high visibility and accessibility.
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    401 Congress Ave Austin, TX 78701
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    401 Congress Ave Austin, TX 78701
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    We can help!
    Listing Contact
    Jake Ragusa
    Real Estate License ID: TX 593063
    Learn more
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