Entity Owned 
For Sale
1 / 41
Property summary
This exceptional Austin, TX property (505 E 7th St, 78701) offers a unique investment opportunity. Currently housing Kingdom Nightclub, the 6,334 sq ft, two-story building sits on a 5,924 sq ft lot and boasts a 15-foot ceiling height. The property features a 10-year NNN lease (commencing January 1, 2021, expiring December 31, 2030) with a current NOI of $40,236 and a 1.49% cap rate. However, a pro-forma analysis, projecting a January 1, 2031 lease at $70/sq ft, reveals a significantly higher NOI of $443,380 and a 16.45% cap rate. The current lease includes 4% annual rent bumps. The asking price is $2,695,000, translating to $425.48/sq ft for the building and $556.21/sq ft for the land. While the current lease is below market value, the property's location in the Austin CBD, one block from the 6th Street revitalization project, presents substantial long-term appreciation potential. The significant difference between current and pro-forma NOI highlights the substantial upside upon lease expiration. This presents a compelling opportunity for investors seeking a long-term hold with significant future returns. The property is zoned for CBD use. Built in 1961 and renovated in 2021, this asset is priced well below market value, considering the land's potential alone. The seller is open to lease income supplementation concessions. Note: This property is not suitable for owner-occupancy due to the existing lease term.
Property profile
VerifiedCap rate & NOI
Current use
-
Apartment Building Professional Services
-
Storage Facility
-
Hotel & Motel Resort
-
Hotel & Motel
-
Environmental Consultant
Location
Value estimations
Owner & transaction history
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
from $99/month
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Property tax & assessments
Tax year 2022Property description
Physical attributes from public recordsZoning & alternative use
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
Registration is required before any owner information is shown.
- Full Property Data
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Calculation
- Ownership
- Location Insight
- Alternative use
- Local Zoning Insight
Cancel anytime.
- 30 reports a month
- Location Analytics
- Market Trends
- Full Property Data
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Calculation
- Ownership
- Location Insight
- Alternative use
- Local Zoning Insight
Cancel anytime.
- 300 reports a month
- Location Analytics
- Market Trends
- Full Property Data
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Calculation
- Ownership
- Location Insight
- Alternative use
- Local Zoning Insight
and get 1 Light Report
- Property Information
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Potential
- Location Insight
- Alternative use
- Local Zoning Insight
