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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2115 Northland Dr Austin, TX 78756-1115

    • Medical offices
    • 1,624 SF
    • 0.22 lot acres
    OFF-MARKET
    Last Sale
    Sep 22, 2022
    Value Estimations
    $310,000
    Show details
    Cap Rate Potential
    7.4%
    Medical offices
    Location Intelligence
    Property ID
    US82-0410815
    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

    • Muñoz Family Health Clinic / Medical Clinic / Family Practice Physician
    • Texas Mirrors & Doors / Window Cleaning Service

    Property Details for 2115 Northland Dr

    Year built
    1960
    Construction
    CONCRETE
    Lot size
    0.22 lot acres
    Property size
    1,624 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    230020405
    APU
    230020405

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $290,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $355,000
      6.5%
      $330,000
      7%
      $305,000

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $315,000
      AUTO REPAIR, GARAGE
      $235,000
      RETAIL STORES
      $190,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Austin
    County
    Travis
    State
    Texas
    Longitude
    -97.7408
    Latitude
    30.3323
    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
    $16,622
    $431,235
    $423,692
    $854,927
    -
    $431,235
    $423,692
    $854,927

    Comparable in this City

    • Value Estimation
      $420,000
      2,778 SF

      4213 Burnet Rd

      MEDICAL BUILDING • 2,778 SF
      4213 Burnet Rd, Austin, TX 78756-3316
      View Details
    • Value Estimation
      $560,000
      46,815 SF

      4207 Burnet Rd

      MEDICAL CLINIC • 46,815 SF
      4207 Burnet Rd, Austin, TX 78756-3316
      View Details
    • Value Estimation
      $370,000
      3,994 SF

      4150 Lamar Blvd

      MEDICAL BUILDING • 3,994 SF
      4150 Lamar Blvd, Austin, TX 78756-3716
      View Details
    • Value Estimation
      $415,000
      22,988 SF

      1010 40th St

      MEDICAL BUILDING • 22,988 SF
      1010 40th St, Austin, TX 78756-4010
      View Details
    • Value Estimation
      $320,000
      10,658 SF

      3912 Medical Pkwy

      MEDICAL BUILDING • 10,658 SF
      3912 Medical Pkwy, Austin, TX 78756
      View Details
    • Value Estimation
      $305,000
      3,599 SF

      2301 Wn Loop Blvd

      MEDICAL BUILDING • 3,599 SF
      2301 Wn Loop Blvd, Austin, TX 78756-2326
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      7,769 SF

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      Austin Office Building: Value-Add Opportunity

      6,205 SF Office, Recently Renovated, Central Austin
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      Central Austin Office Space

      Office space in central Austin with frontage on Burnet Rd.
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      3,737 SF

      Versatile Austin Property For Sale

      6,000+ sqft Austin property ideal for office, storage, warehouse.
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    • $775,000

      Office/Home in Brentwood, Austin

      Charming office or home in the Brentwood section of Austin.
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      3,677 SF

      West Central Austin Retail/Office Property

      High-traffic retail and office property in West Central Austin.
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    Similar Nearby for Lease

    • Contact for pricing
      3,273 SF

      Prime Austin Office Suites

      Executive & Medical Offices Available
      3906 Lamar Blvd, Austin, TX 78756
      View Details
    • $35 SF/Yr
      735 SF

      Austin Medical Office Space for Lease

      Central Austin Office Suites, 409-2600 SF
      4105 Medical Pkwy, Austin, TX 78756
      View Details
    • $29 SF/Yr
      12,300 SF

      Austin Medical Office Space

      Prime Austin location, flexible suites.
      4107 Medical Pkwy, Austin, TX 78756
      View Details
    • Contact for pricing
      8,215 SF

      Austin Medical Office Space for Lease

      Class A Medical Office, 8,215 SF Available
      4314 Medical Pkwy, Austin, TX 78756
      View Details
    • $29 SF/Yr
      807 SF

      Austin Medical Office Space for Lease

      Prime location, 807 sq ft, NNN lease.
      4107 Medical Pkwy, Austin, TX 78756
      View Details
    • $60 SF/Yr
      1,400 SF

      Central Austin Office Space Available

      Modern office suites, 150-300 sq ft.
      1504 Koenig Ln, Austin, TX 78756
      View Details

    Property Visit Statistics

    • Visits by month
      1.5k
    • Visitors by month
      1.4k
    • Avg Time on site
      15 min
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    2115 Northland Dr
    Austin, TX 78756-1115
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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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