Property profile

506 Congress Ave Austin, TX 78701

FOR LEASE
Strip malls
Property ID
US82-2542377
21,540 SF 0.19 ac lot Built 1935
Entity Owned 6-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional creative office space, located at 506 Congress Avenue in the heart of Austin, Texas, offers 9,709 square feet of immediately available space within a larger 18,761 square foot building. The property is designated as a multi-tenant building, perfect for a growing company seeking a vibrant and collaborative work environment. The address is highly desirable, situated in Travis County, with easy access to Austin's thriving downtown area and its numerous amenities. The building provides ample parking, with a ratio of 3 spaces per 1,000 rentable square feet. This presents a unique opportunity for businesses seeking a prominent Austin location with significant space to accommodate expansion or a flexible layout to suit specific needs. The property type is officially classified as an office building, specifically a creative office space, suggesting an open and adaptable floor plan. The zip code is 78701. This listing is for lease and offers a substantial amount of space in a prime Austin location. The available space totals 9,709 square feet, providing ample room for a variety of business configurations. The building's total square footage is 18,761 square feet. This property is an excellent choice for businesses looking to establish or expand their presence in Austin's dynamic market. The convenient location and ample parking make this a highly attractive option.

Property profile

Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 1935
Construction CONCRETE
Total area 21,540 SF
Lot 0.19 ac (8,228 SF)
APN 206030110
UPID US82-2542377

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Marketing & Advertising (Bike/Boat/Book/etc) Store
  • Gym & Fitness Center
  • Marketing & Advertising Advertising Agency
  • Auto Repair Shop Vehicle Inspection Center
  • Consultant

Location

506 Congress Ave Austin, TX 78701
Austin metro Census 1102 AUSTIN-ROUND ROCK, TX METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$435k

Owner & transaction history

since 2020
3 recorded transactions
2023
Price N/A
2020
Price N/A
2001
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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