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    15511 Highway 71 Spicewood, TX 78669
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    Property profile & analytics

    15511 Highway 71 Spicewood, TX 78669

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    • Neighborhood centers
    • 23,177 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Neighborhood centers

    Property Details for 15511 Highway 71

    Year built
    2018
    Property size
    23,177 SF
    Property type
    Neighborhood centers
    Property subtype
    Retail properties & Spaces

    Description

    Colinas Crossing, a Class A retail center in Bee Cave, Texas, offers prime commercial space at 15511 and 15601 Hwy 71 West, near the intersection of Palermo and Hwy 71. This two-building, single-story center totaling 23,177 square feet, was built in 2018 and is located in the Bee Cave/Lakeway submarket of Travis County. The property boasts excellent visibility and accessibility from Hwy 71, just three miles west of the Hill Country Galleria. Multiple tenancy options are available, with a minimum divisible space of 1,247 square feet and a maximum contiguous space of 2,039 square feet. Currently, available spaces include a 1,247 square foot in-line space (white-box, ready for occupancy November 2024, featuring new HVAC and restrooms), a 1,809 square foot in-line space (second-generation restaurant opportunity), and a 2,039 square foot in-line space (second-generation space, previously occupied by CryoFit). The center is anchored by a strong tenant mix including Summer Moon Coffee, Chicknic Neighborhood Rotisserie, The UPS Store, Comfydent Smiles, Zza Pizza + Salads, Luxe Vision Care, Austin Skin Dermatology, Deep Roots ATX Salon, and Paragon Infusion Center. This thriving retail center presents a unique opportunity for businesses seeking high-traffic visibility in a desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Spicewood
    County
    Travis
    State
    Texas
    Longitude
    -97.9859
    Latitude
    30.3173

    Comparable in this City

    • Value Estimation by Request
      2,400 SF

      21209 State Hwy 71st W

      SHOPPING CENTER, STRIP CENTER • 2,400 SF
      21209 State Hwy 71st W, Spicewood, TX 78669-6133
      View Details
    • Value Estimation by Request
      3.30 Acres

      2201 Bee Creek Rd

      Restaurants • 3.30 Acres
      2201 Bee Creek Rd, Spicewood, TX 78669
      View Details
    • Value Estimation by Request
      4,741 SF

      12400 State Hy 71f

      FINANCIAL BUILDING • 4,741 SF
      12400 State Hy 71f, Spicewood, TX 78669
      View Details
    • Value Estimation
      $670,000
      10,995 SF

      3611 Pace Bnd S Rd

      CONVENIENCE STORE • 10,995 SF
      3611 Pace Bnd S Rd, Spicewood, TX 78669-2525
      View Details
    • Value Estimation
      $4,290,000
      81,607 SF

      12400 State Hy 71

      GROCERY, SUPERMARKET • 81,607 SF
      12400 State Hy 71, Spicewood, TX 78669
      View Details
    • Value Estimation by Request
      10,448 SF

      20700 State Hwy 71st W

      RETAIL STORES (PERSONAL SERVICES) • 10,448 SF
      20700 State Hwy 71st W, Spicewood, TX 78669-6129
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Commercial Land Near Lake Travis

      Commercial land with high visibility and traffic near Lake Travis.
      State Hy 71, Austin, TX 78669
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    • Contact for pricing

      Unrestricted Land Near Lake Travis

      74.6 acres near parkland with trails to Lake Travis.
      9939 County Road 404, Spicewood, TX 78669
      View Details
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    Spicewood, TX 78669
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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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    15511 Highway 71, Spicewood, TX, 78669
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