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    Property profile & analytics

    3311 Lamar Blvd Austin, TX 78705-2016

    • Retail space
    • 2,550 SF
    • 0.29 lot acres
    OFF-MARKET
    Value Estimations
    $490,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-2854299
    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

    • Retail space

    Property Details for 3311 Lamar Blvd

    Year built
    1959
    Construction
    CONCRETE
    Lot size
    0.29 lot acres
    Property size
    2,550 SF
    Property type
    Retail space
    APN
    218031310
    APU
    218031310

    Description

    This exceptional 2,550 square foot medical office building, constructed in 1959, is ideally situated at 3311 N Lamar Blvd in Austin, Texas, zip code 78705. The single-story building sits on a single lot and is zoned CS-1. Its prime location along the bustling N Lamar Blvd and W 35th St offers unparalleled visibility and accessibility. The property benefits from its proximity to Ascension Seton Medical Center and other significant medical facilities, making it an attractive option for medical professionals. Convenient access to major transportation arteries, including Mopac Expressway and Interstate 35, ensures effortless commutes for both staff and patients. The building's functionality is further enhanced by its classification as Office, Retail, and Special Purpose, offering versatility for a range of medical uses. This presents a unique opportunity to acquire a well-located, established medical office building in a thriving Austin neighborhood. The property's single-tenant occupancy simplifies management and provides a stable income stream. The building's 2,550 square feet provide ample space for a variety of medical practices. This is a rare chance to own a piece of Austin's vibrant medical corridor.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $430,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $750,000
      6.5%
      $690,000
      7%
      $640,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $405,000
      Market price range: $141k - $430k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $305,000
      Current use
      AUTO REPAIR, GARAGE
      $365,000
      Change: +20% Conversion: Difficult
      OFFICE BUILDING
      $325,000
      Change: +6% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Austin
    County
    Travis
    State
    Texas
    Longitude
    -97.7447
    Latitude
    30.302
    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
    $26,251
    $1,512,000
    $94,601
    $1,606,601
    -
    $1,512,000
    $94,601
    $1,606,601

    Comparable in this City

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      $460,000
      8,344 SF

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      RETAIL STORES (PERSONAL SERVICES) • 8,344 SF
      2915 San Gabriel St, Austin, TX 78705-3532
      View Details
    • Value Estimation
      $310,000
      560 SF

      2829 Salado St

      RETAIL STORES (PERSONAL SERVICES) • 560 SF
      2829 Salado St, Austin, TX 78705-3624
      View Details
    • Value Estimation
      $335,000
      1,340 SF

      2310 Guadalupe St

      RETAIL STORES (PERSONAL SERVICES) • 1,340 SF
      2310 Guadalupe St, Austin, TX 78705-5218
      View Details
    • Value Estimation
      $435,000
      3,643 SF

      2404 Guadalupe St

      RETAIL STORES (PERSONAL SERVICES) • 3,643 SF
      2404 Guadalupe St, Austin, TX 78705-4809
      View Details
    • Value Estimation
      $490,000
      7,200 SF

      2244 Guadalupe St

      RETAIL STORES (PERSONAL SERVICES) • 7,200 SF
      2244 Guadalupe St, Austin, TX 78705-5217
      View Details
    • Value Estimation
      $295,000
      2,800 SF

      1003 34th St

      RETAIL STORES (PERSONAL SERVICES) • 2,800 SF
      1003 34th St, Austin, TX 78705-2008
      View Details

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    Similar Nearby for Lease

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      Retail Space in Central Austin

      Retail property in central Austin with high-traffic location.
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      Retail Space Available For Rent

      Retail property available for lease in Austin, Texas.
      3125 North Lamar Blvd, Austin, TX 78705
      View Details
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      Retail Space Near UT Austin

      Retail space in student housing complex near University of Texas.
      2815 Guadalupe St, Austin, TX 78705
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      Retail Space Available For Lease

      Retail space available for lease in Austin, Texas.
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      Retail Space Near University Campus

      Retail space with high visibility near the University of Texas.
      2901 Medical Arts St, Austin, TX 78705
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    • $40 SF/Yr
      1,750 SF

      West Campus Retail or Office

      Retail or office space near UT Austin campus.
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      View Details
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    3311 Lamar Blvd
    Austin, TX 78705-2016
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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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