Thriving retail center with multiple spaces available.
Lot size:
10,000 SF
Description
Added:
Dec 11, 2024
Days on Market:
406
Lake Creek Crossing offers exceptional retail and restaurant opportunities in Williamson County. This Class C center, totaling 10,000 square feet, currently features a diverse mix of tenants including a nail salon, martial arts school, driving school, Indian restaurant/grocery, taqueria, Vietnamese and Chinese food establishments, a sub shop, coffee shop, and a pizza/pasta restaurant. Three spaces are currently available, ranging from 1,838 to 3,313 square feet. One space, #113, is a sublease opportunity for a grocery store, offering 3,352 square feet and includes a 16-door cooler (80% tenant responsibility, 20% owner), a 6-door freezer (100% tenant), left storage (100% tenant), and 60 shelves (100% tenant). Utilities are included in the $6,000 monthly rent, with water currently at $30 (subject to increase based on usage), electricity ranging from $900 to $1300, and gas from $200 to $500. A second option, space #115, is a shared kitchen space ideal for a co-existing brand (Thai or South Indian cuisine is suggested), with a monthly rent of $5,000 to $8,000, including utilities. This option includes shared kitchen and appliances, separate outside signage, separate inventory/invoicing, a shared dining area, and a single integrated cash register. Water costs are currently $400-$500, with electricity and gas in the $900-$1300 and $400-$600 ranges, respectively. The center is strategically located approximately 2.5 blocks west of IH-35 on RR 620, across from Round Rock High School, ensuring high visibility and accessibility. This presents a unique opportunity for businesses seeking established clientele and a prime location.
Property Features for 1205 Round Rock Ave
General Information
Property type
Restaurants
Lease Type
Gross Lease
RSF (Rentable sq. ft)
10,000 SF
Class
C
Total Rate
15000
Unit(s) available at that property
Space
Suite 106
Size
3,313 SF
Rate per SF
$18
Space
Suite 113 Sublease
Size
1,838 SF
Rate per SF
$18
Space
Suite 115 Sublease
Size
2,450 SF
Rate per SF
$18
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Listing Contact
Darren Quick
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Property Insight Report
HighLights
10,000 SF multi‑tenant retail/restaurant center in Williamson County.
3,352 SF of vacant space available, including sublease options.
Space ranges from 1,838 SF to 3,313 SF.
Existing tenants include diverse retail and restaurant businesses.
Prominent location near IH‑35 and Round Rock High School.
Restaurant - Thriving retail center with multiple spaces available.
Where is this restaurant located?
The property is located at 1205 Round Rock Ave Round Rock, TX.
What is the lease rate?
The lease rate is $18 SF/Yr.
What are key features of this property?
This property features: 10,000 SF multi-tenant retail/restaurant center in Williamson County.; 3,352 SF of vacant space available, including sublease options.; Space ranges from 1,838 SF to 3,313 SF.
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1205 Round Rock Ave Round Rock, TX 78681
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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
1205 Round Rock Ave Round Rock, TX 78681
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1205 Round Rock Ave, Round Rock, TX
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Darren Quick
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1205 Round Rock Ave, Round Rock, TX
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Listing Contact
Darren Quick
Real Estate License ID: TX 443913
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