6208 Mcneil Dr Austin, TX 78729

Property Details for 6208 Mcneil Dr

Year built

2005

Lot size

5.04 lot acres

Property size

13,218 SF

Property type

Strip malls

Property subtype

Neighborhood centers

APN

272000319

APU

272000319

Description

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.

Location Insight

City

Austin

County

Travis

State

Texas

Longitude

-97.7444

Latitude

30.4447

CBSA code

12420

CBSA name

AUSTIN-ROUND ROCK, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments