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    9324 Us-290 Austin, TX 78736

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    9324 Us-290 Austin, TX 78736

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    • Office properties & Spaces
    • 8,664 SF
    • 1.03 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office properties & Spaces

    Property Details for 9324 Us-290

    Lot size
    1.03 lot acres
    Property size
    8,664 SF
    Property type
    Office properties & Spaces
    Property subtype
    Medical Office Space

    Description

    This exceptional investment opportunity presents an 8,664-square-foot, multi-tenant veterinary hospital in Austin, TX, located at 9324 US-290, zip code 78736. The property sits on a 1.03-acre lot and boasts a 100% occupancy rate with a strong tenant roster including VetCor, Hill Country Automotive, and Spectrum Gulf Coast, LLC. The anchor tenant, VetCor, a significant operator of veterinary clinics with 890+ units nationwide, provides a corporate guarantee on a 10-year lease commencing August 6, 2024, and expiring July 31, 2034, with two 5-year renewal options. The lease features a 2% annual rent increase, ensuring consistent income growth. The property's Net Operating Income (NOI) is $326,623, resulting in a 6.25% cap rate. The asking price is $5,225,968, translating to $603.18 per square foot. The property is classified as a medical office, offering a stable and attractive investment profile. The location is strategically positioned approximately 13 miles from downtown Austin, a thriving city experiencing significant growth fueled by major corporations like Amazon, Google, Oracle, and Tesla. Two of the major tenants have a history of over 10 years at this location. The acquisition of the Austin Veterinary Diagnostic Hospital by VetCor underscores the clinic's strong performance and potential for continued success. This NNN lease structure minimizes landlord responsibilities, making it an ideal investment for passive income seekers.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Austin
    County
    Liberty
    State
    Texas
    Longitude
    -97.9315
    Latitude
    30.2316

    Comparable in this City

    • Value Estimation by Request

      15210 Fitzhugh Rd, Unit 23

      CONDOMINIUM OFFICES
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      3,200 SF

      14510 Fitzhugh Rd

      Flex space • 3,200 SF
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      12,500 SF

      9217 Us-290

      Office Units • 12,500 SF
      9217 Us-290, Austin, TX 78736
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    • Value Estimation by Request
      1,156 SF

      15210 Fitzhugh Rd, Unit 24

      CONDOMINIUM OFFICES • 1,156 SF
      15210 Fitzhugh Rd, Austin, TX 78736-6302
      View Details
    • Value Estimation
      $5,180,000
      30,000 SF

      State Hy 71

      OFFICE BUILDING • 30,000 SF
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    • Value Estimation by Request
      1,800 SF

      10010 Hwy 290th W

      OFFICE BUILDING • 1,800 SF
      10010 Hwy 290th W, Austin, TX 78736-7789
      View Details

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    9324 Us-290
    Austin, TX 78736
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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
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