Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    3624 Hills Dr Austin, TX 78731

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3624 Hills Dr Austin, TX 78731

    View on Map
    • Office properties & Spaces
    • 26,592 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Austin Biofeedback & EEG Neurofeedback Center / Physician
    • Andrews Law Firm / Law Firm
    • Jason Alexander Black / Dental Office
    • Far West Dental / Dental Office
    • Jason A Black DDS / Dental Office

    Property Details for 3624 Hills Dr

    Year built
    1984
    Property size
    26,592 SF
    Property type
    Office properties & Spaces
    Property subtype
    Medical Office Space

    Description

    This exceptional 1,847 square foot Class B medical office condo, located at 3624 N Hills Dr, Units C-102&103, Austin, TX 78731, is situated in the desirable North Hills Office Park. Built in 1984, this property boasts a total building size of 26,592 square feet and offers convenient access to Mopac Expressway and Highway 183. Its prime location provides easy access to downtown Austin (14 minutes) and The Domain (8 minutes). The property features a courtyard setting and is plumbed for a dental office, making it ideal for a variety of medical practices. The zoning is GR, Austin, and ample parking is available (41,000 spaces per 1,000 sq ft). This turnkey space offers a strategic location in a sought-after area, providing an exceptional environment for both patients and practitioners. Amenities are within walking distance. This is a rare opportunity to acquire a well-located and functional medical office condo in a thriving Austin neighborhood.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Austin
    County
    Travis
    State
    Texas
    Longitude
    -97.7572
    Latitude
    30.353

    Comparable in this City

    • Value Estimation by Request
      3,088 SF

      3624 Hills Dr

      Medical Office Space • 3,088 SF
      3624 Hills Dr, Austin, TX 78731
      View Details
    • Value Estimation by Request
      1,847 SF

      3624 Hills Dr

      Medical Office Space • 1,847 SF
      3624 Hills Dr, Austin, TX TX 78731
      View Details
    • Value Estimation by Request
      3,163 SF

      7030 Vlg Ctr Dr

      MEDICAL BUILDING • 3,163 SF
      7030 Vlg Ctr Dr, Austin, TX 78731-3024
      View Details
    • Value Estimation by Request
      1,838 SF

      7007 Hart Ln

      MEDICAL BUILDING • 1,838 SF
      7007 Hart Ln, Austin, TX 78731-3018
      View Details
    • Value Estimation
      $2,860,000
      76,145 SF

      6834 Austin Ctr Blvd

      MEDICAL BUILDING • 76,145 SF
      6834 Austin Ctr Blvd, Austin, TX 78731
      View Details
    • Value Estimation
      $1,695,000
      45,541 SF

      6835 Austin Ctr Blvd

      MEDICAL BUILDING • 45,541 SF
      6835 Austin Ctr Blvd, Austin, TX 78731-3166
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,371 SF

      Stand-alone Building Near Murchison School

      Leased investment property near Far West Boulevard in Toney Northwest Hills.
      7007 Hart Ln, Austin, TX 78731
      View Details
    • Contact for pricing

      Central Austin Mixed-Use Asset

      Mixed-use retail and office asset in the heart of Austin.
      3500 Jefferson St, Austin, TX 78731
      View Details
    • Contact for pricing
      2,289 SF

      Office Space Near Central Austin

      Office space for lease, convenient location, easy access.
      5750 Balcones Dr, Austin, TX 78731
      View Details
    • $7,900,000

      Approved Office Development Site

      10.112-acre site approved for 110,000 sq ft office space.
      6601 N Capital Of Texas Hwy, Austin, TX 78731
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      78,789 SF

      Medical Office Space in Austin

      Class A medical office building near MoPac and Far West.
      6818 Austin Center Blvd, Austin, TX 78731
      View Details
    • $16 SF/Yr
      5,566 SF

      Mopac Expy Office Sublease Opportunity

      Austin Office Space: Flexible Sublease
      7320 N Mopac Expy, Austin, TX 78731
      View Details
    • $10 SF/Yr

      Office Space Near Central Austin

      Office property with easy access to major Austin locations.
      5750 Balcones Dr, Austin, TX 78731
      View Details
    • Contact for pricing

      Office Space Available For Lease

      Office space for lease at 5926 Balcones Drive.
      5926 Balcones Dr, Austin, TX 78731
      View Details
    • Contact for pricing

      Office Space Available for Rent

      Office space for rent at Wood Hollow Drive, Austin, TX.
      7719 Wood Hollow Dr, Austin, TX 78731
      View Details
    • Contact for pricing

      Executive Center Drive Office Space

      Office space available for rent in Austin, Texas.
      3636 Executive Center Dr, Austin, TX 78731
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3624 Hills Dr
    Austin, TX 78731
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry

    3624 Hills Dr, Austin, TX, 78731

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!