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    East Austin Mixed-Use Investment Title is generated by Realmo AI

    1607 E 7th St, Austin, TX 78702

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    Mixed-use property in booming East Austin with multiple spaces.

    Type:Office
    Property size:
    2,039 SF
    Added:
    Feb 13, 2023
    Days on Market:
    1208
    Last Refresh:
    May 19 at 8:33 pm

    Property Features for 1607 E 7th St

    General Information

    Standard status
    Active
    Size
    2,039 SF
    Property subtype
    Office

    We can help!

    Listing Contact
    Andrew Karr

    Listing agent Andrew Karr License #TX 0586116

    Listing office Asterra Properties

    Listing date Feb 13, 2023

    Source Crexi

    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 Asterra Properties

    HighLights

    • Prime location in booming East Austin with a Walk Score of 96 and Bike Score of 89, offering easy access to amenities, bars, and restaurants.
    • Versatile property suitable for live‑work arrangements or investment, featuring three individual spaces for office, retail, or residential use.
    • Two buildings totaling approximately 2,039 SF, including a 1,366 SF split home/office and a 673 SF garage apartment.
    • Zoned TOD and located just two blocks from Plaza Saltillo Station, providing convenient public transportation access.
    • Access to both 7th Street and the alley behind the property, with parking and a two‑car garage located in the back.
    • Close proximity to major developments and popular establishments.

    Overview

    Located in the center of booming East Austin, this property at 1607 E 7th St offers a variety of potential uses, including live-work opportunities. The property is situated within walking distance of amenities, bars, and restaurants on East 5th-7th Streets. It is also located a block away from E 6th St and less than a mile from 6th St, and one and a half miles from the Capitol and Downtown Austin. The property consists of two buildings totaling approximately 2,039 SF (per TCAD). Building A is a single-story split home/office with approximately 1,366 SF (per TCAD). The two sides of Building A are completely separate and accessible from both E 7th St and the alley in the back, making it suitable for an owner-occupier seeking a live-work setup. Building B, located in the back of the property adjacent to the alley, is a garage apartment with approximately 673 SF of space. Zoned TOD, the property is two blocks from the Plaza Saltillo Station and a short walk to The Foundry development (95,000 SF mixed-use project under development) and The Arnold, a 346-unit mixed-use apartment complex. It is also a few blocks from the new HQ Onion Street West development (315,000 SF currently under construction). The property has full utilities, including existing electric and water services, and features access to both 7th Street and the alley behind the property, which runs from Comal St to Chalmers Ave. Parking is located in the back through the alleyway and features a two-car garage. The property has three individual spaces suitable for office, retail, or residential purposes, making it a potential investment property for multiple tenants.
    Property Profile Location Intelligence

    Current Use by Public Records

    Law Office of Antonio ... Law Firm

    Suggested Use

    Real Estate Agency Law Firm Dental Office Spa & Massage Center Hair Salon Restaurant Nail Salon Building Supply Daycare Center Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Austin
    County
    Hays
    State
    Texas
    Longitude
    -97.7256039
    Latitude
    30.2634866

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    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property in booming East Austin with multiple spaces.
    Where is this mixed-use property located?
    The property is located at 1607 E 7th St Austin, TX.
    What are key features of this property?
    This property features: Prime location in booming East Austin with a Walk Score of 96 and Bike Score of 89, offering easy access to amenities, bars, and restaurants.; Versatile property suitable for live‑work arrangements or investment, featuring three individual spaces for office, retail, or residential use.; Two buildings totaling approximately 2,039 SF, including a 1,366 SF split home/office and a 673 SF garage apartment.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Andrew Karr
    Real Estate License ID: TX 0586116
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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.

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