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

    3202 Grooms St Austin, TX 78705-2482

    • Apartment buildings
    • 5,056 SF
    • 0.30 lot acres
    OFF-MARKET
    Value Estimations
    $330,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-2746059
    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

    • Apartment buildings

    Property Details for 3202 Grooms St

    Year built
    1955
    Construction
    WOOD FRAME
    Lot size
    0.30 lot acres
    Property size
    5,056 SF
    Property type
    Apartment buildings
    APN
    216040501
    APU
    216040501

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $330,000

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $200,000
      Current use
      MEDICAL BUILDING
      $490,000
      Change: +147% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $325,000
      Change: +63% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $290,000
      Change: +47% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Austin
    County
    Travis
    State
    Texas
    Longitude
    -97.7348
    Latitude
    30.2961
    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
    $21,413
    $1,320,000
    $135,295
    $1,455,295
    -
    $1,320,000
    $135,295
    $1,455,295

    Comparable in this City

    • Value Estimation
      $795,000
      75,647 SF

      2700 Salado St

      APARTMENT HOUSE (5+ UNITS) • 75,647 SF
      2700 Salado St, Austin, TX 78705
      View Details
    • Value Estimation
      $1,035,000
      174,596 SF

      2410 San Gabriel St

      APARTMENT HOUSE (100+ UNITS) • 174,596 SF
      2410 San Gabriel St, Austin, TX 78705
      View Details
    • Value Estimation
      $840,000
      238,650 SF

      2507 Seton Ave

      APARTMENT HOUSE (100+ UNITS) • 238,650 SF
      2507 Seton Ave, Austin, TX 78705
      View Details
    • Value Estimation
      $300,000
      3,871 SF

      909 23rd St

      APARTMENT HOUSE (5+ UNITS) • 3,871 SF
      909 23rd St, Austin, TX 78705-5007
      View Details
    • Value Estimation
      $740,000
      72,150 SF

      1009 26th St

      APARTMENT HOUSE (5+ UNITS) • 72,150 SF
      1009 26th St, Austin, TX 78705-4344
      View Details
    • Value Estimation
      $435,000
      32,576 SF

      610 30th St

      APARTMENT HOUSE (5+ UNITS) • 32,576 SF
      610 30th St, Austin, TX 78705-2250
      View Details

    Similar Nearby for Sale

    • $249,000

      West Campus Condo Near UT

      Two-bedroom, two-bath condo near UT with updated kitchen.
      803 W 28Th St, Austin, TX 78705
      View Details
    • $389,000

      West Campus Condo with Parking

      Two-bedroom condo near UT with gated parking and pool.
      2502 Leon St, Austin, TX 78705
      View Details
    • $445,000

      Austin Condo with Loft

      Luxury 2-bedroom condo with loft near UT campus.
      2502 Leon St, Austin, TX 78705
      View Details
    • $400,000
      1,015 SF

      Condo Near University of Texas

      2-bedroom, 2-bathroom condo near UT Austin with in-unit laundry.
      2502 Leon St, Austin, TX 78705
      View Details
    • $1,699,000

      Austin Multi-Unit Investment Opportunity

      Multi-unit property near UT campus with redevelopment potential.
      3208 Duval St, Austin, TX 78705
      View Details
    • $369,995
      868 SF

      West Campus Apartment with Balcony

      Modern 2 bed, 2 bath apartment in vibrant West Campus.
      2502 Leon St, Austin, TX 78705
      View Details

    Similar Nearby for Lease

    • $900 /Mo
      1,000 SF

      Room for Rent Near Downtown

      Room for rent near downtown Austin, available August 8th, 2025.
      2200 San Gabriel St, Austin, TX 78705
      View Details
    • $975 /Mo
      654 SF

      Hyde Park Condo Available 2025

      Updated 1-bedroom condo in Hyde Park, available Fall 2025.
      2703 Swisher St, Austin, TX 78705
      View Details
    • $1,700 /Mo
      1,015 SF

      Condo Near University of Texas

      Charming 2 bed, 2 bath condo near UT Austin.
      2502 Leon St, Austin, TX 78705
      View Details
    • $1,500 /Mo
      689 SF

      Apartment Near University of Texas

      Comfortable apartment with modern finishes, minutes from the University of Texas.
      3009 Speedway, Austin, TX 78705
      View Details
    • $1,825 /Mo
      727 SF

      West Campus Condo with Upgrades

      Upgraded 2-bedroom condo in West Campus, available August 2026.
      2802 Nueces St, Austin, TX 78705
      View Details
    • $975 /Mo
      659 SF

      Centrally-Located Condo Near Downtown Austin

      One-bedroom condo in Hyde Park, minutes from downtown Austin.
      2800 Cole St, Austin, TX 78705
      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.
    3202 Grooms St
    Austin, TX 78705-2482
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.