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

    3500 E Parmer Ln Austin, TX 78727

    • Medical offices
    • 1,500,000 SF
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-4144336
    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

    • United Christian Church / Christian Church / Church
    • The Janis / Apartment Rental Agency / Apartment Complex
    • EastVillage / Shopping Mall
    • EastVillage ATX / Real Estate Developer

    Property Details for 3500 E Parmer Ln

    Property size
    1,500,000 SF
    Property type
    Medical offices

    Description

    This premier Austin, TX medical office development, located at 3500 E Parmer Ln, 78754, offers 1,500,000 square feet across six buildings with 37 stories. The property features flexible suites ranging from 105,000 to 665,400 contiguous square feet, with a total of 1,534,600 square feet currently vacant. Ceiling heights range from 17'0" to 18'0". The development boasts a strategic location in Travis County's Tech Ridge area, directly across from Samsung Austin Semiconductor and less than 30 minutes from Tesla's Gigafactory. This prime location offers easy access to Austin Executive Airport and major highways, placing it within a five-mile radius of numerous corporate businesses, including Dell, General Motors, 3M, and Apple. The development is part of a larger mixed-use project encompassing over 425 acres, including retail, restaurants, a 1.4-acre village green with an amphitheater, a 150-acre wooded preserve with extensive trails, and residential units. Parking is provided at a ratio of 4 spaces per 1,000 square feet. The property is ideal for medical office users seeking a modern, amenity-rich environment in a thriving technological hub. This large-scale development offers a unique opportunity to establish a significant presence in Austin's dynamic commercial real estate market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Austin
    County
    Travis
    State
    Texas
    Longitude
    -97.6318943
    Latitude
    30.3766682

    Comparable in this City

    • $14 SF/Yr
      34,088 SF

      Austin Office Park Investment Opportunity

      Prime Austin Office Space Available
      8101 Cameron Rd, Austin, TX 78754
      View Details
    • $41 SF/Yr
      8,024 SF

      Medical Facility on Cameron Road

      8,024 SF medical facility with strong visibility, built in 2019.
      7912 Cameron Rd, Austin, TX 78754
      View Details
    • $0.80 SF/Yr
      78,000 SF

      Austin Industrial Spaces For Lease

      Industrial spaces with dock high and grade level loading available.
      9709 Brown Ln, Austin, TX 78754
      View Details
    • Contact for pricing
      108,805 SF

      Austin Industrial/Office Space for Lease

      Flexible Austin workspace, 300-100,000 sq ft.
      8119 Exchange Dr, Austin, TX 78754
      View Details
    • Contact for pricing
      24,185 SF

      Northeast Austin Office/Flex Building

      Two-story office/flex building in Northeast Austin's Walnut Creek Business Centre.
      1609 Centre Creek Dr, Austin, TX 78754
      View Details
    • $19 SF/Yr

      North Austin Office Suites For Rent

      Well-maintained office suites with amenities in North Austin.
      8001 Centre Park Dr, Austin, TX 78754
      View Details

    Similar Nearby for Sale

    • $385,000

      Austin Specialty Property For Sale

      Specialty property available for purchase in Austin, Texas.
      1605 Pleasant Cv, Austin, TX 78754
      View Details
    • Contact for pricing
      49,029 SF

      Austin Flex Space: Promontory Point

      High-quality flex space, ideal location
      2420 Ridgepoint Dr, Austin, TX 78754
      View Details
    • $7,250,000
      93,452 SF

      Walnut Creek Office Building For Sale

      Four-story, 93,452 SF office building in Walnut Creek Business District.
      8317 Cross Park Dr, Austin, TX 78754
      View Details
    • $7,750,000
      36,047 SF

      Austin Office Building For Sale

      36,047 SF office building available in Austin, Texas.
      1505 Ferguson Ln, Austin, TX 78754
      View Details
    • $320,000
      972 SF

      Austin Executive Office Condo

      972 SF, $320,000, 100% Occupied
      1508 Dessau Ridge Ln, Austin, TX 78754
      View Details
    • Contact for pricing
      3,500 SF

      Austin Industrial Property - 5.1 Acres

      Prime Austin location: 13,500 SF building, fenced 5.1-acre lot.
      9513 Brown Lane, Austin, TX 78754
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      34,088 SF

      Austin Office Park Investment Opportunity

      Prime Austin Office Space Available
      8101 Cameron Rd, Austin, TX 78754
      View Details
    • $41 SF/Yr
      8,024 SF

      Medical Facility on Cameron Road

      8,024 SF medical facility with strong visibility, built in 2019.
      7912 Cameron Rd, Austin, TX 78754
      View Details
    • $0.80 SF/Yr
      78,000 SF

      Austin Industrial Spaces For Lease

      Industrial spaces with dock high and grade level loading available.
      9709 Brown Ln, Austin, TX 78754
      View Details
    • Contact for pricing
      108,805 SF

      Austin Industrial/Office Space for Lease

      Flexible Austin workspace, 300-100,000 sq ft.
      8119 Exchange Dr, Austin, TX 78754
      View Details
    • Contact for pricing
      24,185 SF

      Northeast Austin Office/Flex Building

      Two-story office/flex building in Northeast Austin's Walnut Creek Business Centre.
      1609 Centre Creek Dr, Austin, TX 78754
      View Details
    • $19 SF/Yr

      North Austin Office Suites For Rent

      Well-maintained office suites with amenities in North Austin.
      8001 Centre Park Dr, Austin, TX 78754
      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.
    3500 E Parmer Ln
    Austin, TX 78727
    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.