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    2921 17Th St Austin, TX 78702

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    For Sale
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    7,500 SF Office, Prime East Austin Location

    Property size:
    7,500 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    This exceptional 7,500-square-foot executive office building at 2921 E 17th St in Austin, Texas, presents a compelling lease or purchase opportunity. The two-story property boasts a modern, creative office design, perfectly suited for discerning businesses. Its prime location on the east side offers unparalleled convenience, with easy access to the MLK Station and a vibrant neighborhood brimming with coffee shops, restaurants, and other retail amenities. Enjoy the benefits of a short walk to various lunch and coffee options. The building's strategic proximity to downtown Austin and major thoroughfares ensures seamless connectivity throughout the city. The surrounding area is experiencing significant growth, with numerous multifamily and residential developments adding to the area's appeal. Ample parking is provided with a total of 22 spaces, including 20 secure garage spaces and 2 convenient surface spaces. This property offers a unique blend of modern design, prime location, and convenient amenities, making it an ideal choice for businesses seeking a thriving and accessible workspace in Austin. The property is located in Travis County, Texas, with a zip code of 78702.

    Property Features for 2921 17Th St

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    7,500 SF

    Building Details

    Stories
    2

    HighLights

    • Prime location with high visibility.
    • Contemporary, creative office layout.
    • Convenient walkability to numerous amenities.
    • Easy access to the downtown core and major roadways.
    • Surrounded by strong residential density.
    • Ample parking with 22 spaces total.
    Property Profile Location Intelligence

    Current Use by Public Records

    Parrot Digital Website Designer Russell Sloan, Attorney ... Law Firm The Law Office Of Marshall ... Personal Injury Attorney Sustainable Food Center Non-Profit Organization Entrepreneurs Foundation-Control Social Services Organization

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Austin
    County
    Travis
    State
    Texas
    Longitude
    -97.7101636
    Latitude
    30.2785574

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    FAQs

    What type of property is this?
    Office Property / Space - 7,500 SF Office, Prime East Austin Location
    Where is this office property / space located?
    The property is located at 2921 17Th St Austin, TX.
    What are key features of this property?
    This property features: Prime location with high visibility.; Contemporary, creative office layout.; Convenient walkability to numerous amenities.
    Request Owner's contact information
    2921 17Th St Austin, TX 78702
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    Austin, TX 78702
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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.

    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
    2921 17Th St Austin, TX 78702
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