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    6208 Mcneil Dr Austin, TX 78729

    For Sale
    $3,075,000

    High-yield NNN ground lease, strong tenant.

    Property size:
    4,200 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    360
    This exceptional investment opportunity presents a 4,200 square foot Wells Fargo Bank branch located on a 0.895-acre lot at 6208 McNeil Dr, Austin, TX 78729. The property boasts a prominent location at the intersection of high-traffic W Parmer Lane and McNeil Drive, offering excellent visibility and access within a thriving retail corridor. The NNN ground lease features a credit-rated tenant with a remaining term of six years, expiring November 30, 2030, and includes 10% rent bumps at each option period. The current asking price is $3,075,000, representing a 5.00% cap rate and a price per square foot of $732.14. The property generates a net operating income (NOI) of $153,731. The site benefits from exceptional demographics, with a total daytime population of 301,274 and an average household income of $139,068 within a five-mile radius. Surrounding the property are numerous amenities including Starbucks, Chipotle, Whataburger, Chase Bank, and an H-E-B anchored shopping center. The location is also proximate to major employers such as Apple's new campus, Research Park, and Saint David's North Austin Medical Center, further enhancing its value and long-term prospects. The tenant's early renewal demonstrates a strong commitment to this location. This is a rare opportunity to acquire a high-quality, net-leased property in one of the fastest-growing metropolitan areas in the United States.

    Property Features for 6208 Mcneil Dr

    General Information

    Property type
    Individual retail properties
    Square Feet
    4,200 SF
    Lot Size
    38,986 SF

    HighLights

    • Trophy NNN ground lease to Wells Fargo Bank in Austin, TX.
    • Wells Fargo has exercised an early renewal, demonstrating long‑term commitment.
    • Exceptional location near Apple's new 133‑acre campus.
    • Strong underlying land value with below‑market rent.
    • Established branch since 2005 with healthy deposits.
    • Investment‑grade tenant (A1 Moody's, BBB+ S&P).
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Wells Fargo ATM Atm Wells Fargo Bank Bank Wells Fargo Advisors Investment Service

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Austin
    County
    Travis
    State
    Texas
    Longitude
    -97.7439195
    Latitude
    30.4436943

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    FAQs

    What type of property is this?
    Individual retail property - High-yield NNN ground lease, strong tenant.
    Where is this individual retail property located?
    The property is located at 6208 Mcneil Dr Austin, TX.
    What is the asking price?
    The asking price for this property is $3,075,000.
    What are key features of this property?
    This property features: Trophy NNN ground lease to Wells Fargo Bank in Austin, TX.; Wells Fargo has exercised an early renewal, demonstrating long-term commitment.; Exceptional location near Apple's new 133-acre campus.
    Request Owner's contact information
    6208 Mcneil Dr Austin, TX 78729
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    Austin, TX 78729
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    Realmo Value Estimation

    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.

    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
    6208 Mcneil Dr Austin, TX 78729
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