Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1021 University Ave, Unit 3 Georgetown, TX 78628-5339

    • Commercial real estate
    • 127,023 SF
    • 13.00 lot acres
    OFF-MARKET
    Value Estimations
    $4,780,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-2927519
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Target Mobile / Mobile Phone Store / Electronics & Wireless Store
    • Target / Home Decor Store / Department Store
    • Starbucks / Cafe & Coffee Shop
    • Ike's Love & Sandwiches / Take-out & Catering
    • Andrew Berg / Pharmacy

    Property Details for 1021 University Ave

    Year built
    2005
    Lot size
    13.00 lot acres
    Property size
    127,023 SF
    Property type
    Commercial real estate
    APN
    R-20-9965-000A-0003
    APU
    R209965000A0003

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Georgetown
    County
    Williamson
    State
    Texas
    Longitude
    -97.6979
    Latitude
    30.6313
    CBSA code
    12420
    CBSA name
    AUSTIN-ROUND ROCK, TX METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $262,529
    $9,743,424
    $4,856,576
    $14,600,000
    -
    $9,743,424
    $4,856,576
    $14,600,000

    Comparable in this City

    • Value Estimation by Request
      51,450 SF

      3701 State Highway 29

      Restaurants • 51,450 SF
      3701 State Highway 29, Georgetown, TX 78628
      View Details
    • Value Estimation by Request
      3.29 Acres

      2941 Williams Dr

      COMMERCIAL (GENERAL) • 3.29 Acres
      2941 Williams Dr, Georgetown, TX 78628-2701
      View Details
    • Value Estimation by Request
      2.80 Acres

      3622 Williams Dr

      COMMERCIAL (GENERAL) • 2.80 Acres
      3622 Williams Dr, Georgetown, TX 78628-2415
      View Details
    • Value Estimation by Request
      2.98 Acres

      304 Rose Spg

      COMMERCIAL (GENERAL) • 2.98 Acres
      304 Rose Spg, Georgetown, TX 78628-6942
      View Details
    • Value Estimation by Request

      401 Service Dr

      COMMERCIAL (GENERAL)
      401 Service Dr, Georgetown, TX 78628
      View Details
    • Value Estimation by Request
      31.31 Acres

      Shell Rd

      COMMERCIAL (GENERAL) • 31.31 Acres
      Shell Rd, Georgetown, TX 78628
      View Details

    Similar Nearby for Sale

    • $755,000
      0.72 Acres

      Georgetown Commercial Land - $755K

      Prime Office Land, High Traffic Area, 0.72 Acres
      1629 Williams Dr, Georgetown, TX 78628
      View Details
    • Contact for pricing
      1.25 Acres

      Georgetown Commercial Land - 1.25 Acres

      Prime Georgetown land, ideal for commercial development.
      3900 Williams Dr, Georgetown, TX 78628
      View Details
    • $3,460,000
      1,845 SF

      Georgetown Commercial Land Opportunity

      High-traffic, 7.96-acre development site.
      9800 Sh 29, Georgetown, TX 78628
      View Details
    • $1,150,000
      1.80 Acres

      Georgetown Hwy 29 Pad Site

      Prime 1.8-acre commercial lot
      2801 University Ave, Georgetown, TX 78628
      View Details
    • Contact for pricing
      3.00 Acres

      Georgetown Commercial Land

      Prime 3-20 acre ETJ site. High-growth area.
      7901 State Highway 29, Georgetown, TX 78628
      View Details
    • $2,400,000
      3.58 Acres

      Georgetown Retail Land Opportunity

      3.58-acre prime retail land, high traffic area.
      113 Draper Ln, Georgetown, TX 78628
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      212,793 SF

      Industrial Building For Lease

      Industrial building with 92,000 - 425,586 SF available for lease.
      2333 Airport Rd, Georgetown, TX 78628
      View Details
    • $2,240 /Mo

      Georgetown Retail Space For Rent

      Retail space available in Georgetown, Texas.
      2995 Dawn Dr, Georgetown, TX 78628
      View Details
    • Contact for pricing

      Land Available For Lease

      2.73 acres of land suitable for convenience store.
      8788 W State Highway 29, Georgetown, TX 78628
      View Details
    • Contact for pricing
      5,050 SF

      Georgetown Retail Space For Lease

      Retail space in a shopping center with high traffic.
      1205 Williams Dr, Georgetown, TX 78628
      View Details
    • $40 SF/Yr

      Georgetown Specialty Property for Rent

      Specialty property available for rent in Georgetown, Texas.
      1901 Rivery Blvd, Georgetown, TX 78628
      View Details
    • $10,000 /Mo

      Versatile Office and Warehouse Space

      Mix of office and warehouse space in Williamson County.
      4111 W State Hwy 29 Hwy, Georgetown, TX 78628
      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.
    1021 University Ave, Unit 3
    Georgetown, TX 78628-5339
    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

    Google sign-in failed. Please try again or use another login method.