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    Property profile & analytics

    1215 Corona Dr Austin, TX 78723-2511

    • Strip malls
    • 6,720 SF
    • 0.77 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-0688971
    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

    • Ck Nails / Hair Salon / Nail Salon
    • A&C Rangel Martinez Contractors / Construction Company
    • Herbalife Well+Good Nutrition / (Bike/Boat/Book/etc) Store / Pharmacy
    • Eclipse Hair Salon vida nueva / Hair Salon
    • BLACK DRAGON TATTOO / Tattoo & Piercing Shop

    Property Details for 1215 Corona Dr

    Year built
    1958
    Construction
    CONCRETE
    Lot size
    0.77 lot acres
    Property size
    6,720 SF
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    222140153
    APU
    222140153

    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
    Austin
    County
    Travis
    State
    Texas
    Longitude
    -97.7047
    Latitude
    30.3124
    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
    2022
    $22,580
    $667,780
    $561,778
    $1,229,558
    -
    $667,780
    $561,778
    $1,229,558

    Comparable in this City

    • Value Estimation
      $635,000
      31,005 SF

      5339 Interstate 35

      SHOPPING CENTER, STRIP CENTER • 31,005 SF
      5339 Interstate 35, Austin, TX 78723-2557
      View Details
    • Value Estimation
      $535,000
      11,000 SF

      5010 Lancaster Dr

      SHOPPING CENTER, STRIP CENTER • 11,000 SF
      5010 Lancaster Dr, Austin, TX 78723
      View Details
    • Value Estimation by Request
      4,250 SF

      5341 Cameron Rd

      SHOPPING CENTER, STRIP CENTER • 4,250 SF
      5341 Cameron Rd, Austin, TX 78723-2435
      View Details
    • Value Estimation by Request
      14,377 SF

      5706 Mnr Rd

      SHOPPING CENTER, STRIP CENTER • 14,377 SF
      5706 Mnr Rd, Austin, TX 78723-3605
      View Details
    • Value Estimation
      $1,735,000
      54,240 SF

      7112 Ed Bluestein Blvd Ste, Unit 150

      SHOPPING CENTER, STRIP CENTER • 54,240 SF
      7112 Ed Bluestein Blvd Ste, Austin, TX 78723-2900
      View Details
    • Value Estimation by Request
      5,590 SF

      5403 Cameron Rd

      SHOPPING CENTER, STRIP CENTER • 5,590 SF
      5403 Cameron Rd, Austin, TX 78723-2481
      View Details

    Similar Nearby for Sale

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    • $1,100,000
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      Austin Executive Office Building

      Prime Austin location, 1,451 SF office.
      1302 51St St, Austin, TX 78723
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      Land Available in Austin, TX

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      3115 Manor Rd, Austin, TX 78723
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    Similar Nearby for Lease

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      1,000 SF

      Retail Space in Growing Area

      Retail space with great visibility near restaurants and multifamily.
      3110-3128 Manor Rd, Austin, TX 78723
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      1,500 SF

      Retail Space in Austin Center

      Retail space anchored by H-E-B and DD’s Discounts.
      7112 Ed Bluestein Blvd, Austin, TX 78723
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      1,745 SF

      Retail Space in Mixed-Use Project

      Retail spaces available in mixed-use project near Mueller District.
      5811 Berkman Dr, Austin, TX 78723
      View Details
    • Contact for pricing
      3,450 SF

      Retail Space in Windsor Community

      Mixed-use project in North Austin, delivering mid 2024.
      5831 Berkman Dr, Austin, TX 78723
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      1,745 SF

      Retail Space in Mixed-Use Project

      Retail space suitable for restaurants, fitness, medical, and retail.
      5835 Berkman Dr, Austin, TX 78723
      View Details
    • $42 SF/Yr
      4,645 SF

      Mueller Blvd Retail Opportunity

      Austin Retail Space: Prime Location, Two Suites
      5025 Mueller Blvd, Austin, TX 78723
      View Details
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    1215 Corona Dr
    Austin, TX 78723-2511
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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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