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

    1508 51st St Austin, TX 78723

    • Office buildings
    • 16,732 SF
    • 0.88 lot acres
    OFF-MARKET
    Value Estimations
    $790,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-8175001
    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

    • Office buildings

    Property Details for 1508 51st St

    Year built
    1983
    Lot size
    0.88 lot acres
    Property size
    16,732 SF
    Property type
    Office buildings
    APN
    220140231
    APU
    220140231

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $475,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,101,000
      Market price range: $387k - $2.04M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,215,000
      Current use
      MEDICAL BUILDING
      $1,180,000
      Change: -3% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Austin
    County
    Travis
    State
    Texas
    Longitude
    -97.7022
    Latitude
    30.3065
    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
    $0.00
    $2,300,460
    $3,726,417
    $6,026,877
    -
    $2,300,460
    $3,726,417
    $6,026,877

    Comparable in this City

    • Value Estimation by Request
      1,178 SF

      6510 Berkman Dr

      OFFICE BUILDING • 1,178 SF
      6510 Berkman Dr, Austin, TX 78723-1939
      View Details
    • Value Estimation
      $515,000
      15,608 SF

      5110 Mnr Rd

      OFFICE BUILDING • 15,608 SF
      5110 Mnr Rd, Austin, TX 78723-4608
      View Details
    • Value Estimation
      $12,580,000
      265,000 SF

      1900 Aldrich St

      OFFICE BUILDING • 265,000 SF
      1900 Aldrich St, Austin, TX 78723-3593
      View Details
    • Value Estimation
      $535,000
      13,440 SF

      2939 Pecan Spgs Rd

      OFFICE BUILDING • 13,440 SF
      2939 Pecan Spgs Rd, Austin, TX 78723-4630
      View Details
    • Value Estimation by Request
      832 SF

      1216 51st St

      OFFICE BUILDING • 832 SF
      1216 51st St, Austin, TX 78723-3009
      View Details
    • Value Estimation
      $685,000
      11,250 SF

      3016 51st St

      OFFICE BUILDING • 11,250 SF
      3016 51st St, Austin, TX 78723-4621
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      13,538 SF

      Office Building in Mueller Area

      Office building with development potential near East Austin amenities.
      3601 Manor Rd, Austin, TX 78723
      View Details
    • Contact for pricing
      23,916 SF

      Austin Office Building - 1.39 Acres

      Prime East Austin office building, development potential.
      6600 Manor Rd, Austin, TX 78723
      View Details
    • Contact for pricing
      23,916 SF

      Office Building on Corner Lot

      23,916 SF office building on 1.39 AC corner lot.
      6600 Manor Rd, Austin, TX 78723
      View Details
    • $1,100,000
      1,451 SF

      Austin Executive Office Building

      Prime Austin location, 1,451 SF office.
      1302 51St St, Austin, TX 78723
      View Details
    • Contact for pricing
      2,260 SF

      Mueller Town Center Commercial Space

      Ground-floor commercial space with premier visibility in Mueller Town Center.
      1808 Simond Ave, Austin, TX 78723
      View Details
    • Contact for pricing
      5,000 SF

      Austin Executive Office Space

      Mueller District Retail/Office Opportunity
      3900 Berkman Dr, Austin, TX 78723
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      37,511 SF

      New Mueller Business District Office

      New office space in Mueller Business District with modern amenities.
      4901 Mueller Blvd, Austin, TX 78723
      View Details
    • $13 SF/Yr
      8,527 SF

      Austin Hwy 290 Office Space

      8,527 SF Office Suite - Lease Now
      6400 E Hwy 290, Building 3, Austin, TX 78723
      View Details
    • $15 SF/Yr
      5,675 SF

      Renovated Austin Office Space Available

      Multi-tenant office complex with versatile spaces and recent upgrades.
      1106 Clayton Ln, Austin, TX 78723
      View Details
    • $27 SF/Yr
      2,711 SF

      Austin Office Space For Rent

      2711 square feet of office space available for lease.
      1610 Wheless Ln, Austin, TX 78723
      View Details
    • $22 SF/Yr
      660 SF

      Office, Office/Warehouse, and Flex Space

      Office, office/warehouse, and flex space with highway access.
      6448 Highway 290 E, Austin, TX 78723
      View Details
    • $30 SF/Yr
      800 SF

      Office Suites For Lease

      Full-service office suites available for lease, suitable for small businesses.
      7333 Highway 290 E, Austin, TX 78723
      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.
    1508 51st St
    Austin, TX 78723
    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.