2404 Rio Grande St Austin, TX 78705

Property Details for 2404 Rio Grande St

Year built

1911

Lot size

0.32 lot acres

Property size

3,812 SF

Property type

Office buildings

APN

214010812

APU

214010812

Description

This exceptional 3,812 square foot creative office property, located at 2404 Rio Grande St, Austin, TX 78705, presents a unique redevelopment opportunity in the vibrant West Campus submarket. The property sits on a 0.324-acre lot and is currently zoned GO-H-NP/MF-4-H-NP/CS-NP, allowing for various development options subject to city approvals. The existing building, constructed in 1911, is designated as historic and protected from demolition or extensive renovation without city approval. A 1957 garage apartment is considered a teardown. The property's location offers convenient access to the University of Texas, Downtown Austin, and the Shoal Creek Greenbelt Trail, along with numerous nearby retail, restaurants, and entertainment venues. Easy access to major thoroughfares like MoPac, Lamar Blvd., Rio Grande Street, and MLK Blvd. enhances its appeal. The asking price is $4,500,000 ($1,180.48/sq ft), with a land value of $371.41/sq ft. The current lease expires December 31, 2025, with approximately 1.1 years remaining. Seller financing is available, subject to buyer credit, with a 20% down payment and a 3-year term. Interest rates are expected to range from 7-10%, depending on financing terms. The property's potential uses include student housing, condos, a boutique hotel, coffee house, bar (zoning permitting), or continued use as office space. Further investigation is needed to determine the applicable zoning designation for redevelopment.

Location Insight

City

Austin

County

Travis

State

Texas

Longitude

-97.745

Latitude

30.2886

CBSA code

12420

CBSA name

AUSTIN-ROUND ROCK, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments