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Property profile & analytics
FOR SALE
Office buildings
506 W 15Th St, Austin, TX 78701
Entity Owned
28-yr Hold
~
Est. High Equity
Property ID
US82-3826406
For Sale
1 / 2
$3,634,800
506 W 15Th St, Austin, TX 78701
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1910
Construction
WOOD FRAME
Total area
3,728 SF
Lot
0.2 ac (8,712 SF)
APN
210020912
UPID
US82-3826406
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
The Greening Law Firm, P.C. Law Firm
-
Longhorn Charter Bus Austin Travel Agency Tour Operator
-
Karuna Counseling Services Crisis Center Medical Clinic
-
Towing Austin Pros Auto Repair Shop
-
White Hawk Healing Alternative Medicine Practice Spa & Massage Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$783k
Blend (final)
Blend
$825k
Owner & transaction history
Pa Doc INC · 28 yrs held
Pa Doc INC
since 1997
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$535,000
+23.0%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Austin submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Austin submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$535,000
Change: +23% · Conversion: Difficult
Blend value · Realmo final
$825k
Range $743k – $908k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$221 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$37,407
Tax year 2022
Assessed value
$5,207,292
Assessed 2023
Previous assessed
$5,207,292
+0.0% YoY
Effective rate
0.72%
On assessed value
Assessed land
$4,356,000
Assessed improvement
$851,292
Land market value
$4,356,000
Improvement market value
$851,292
Total market value
$5,207,292
Applied tax rate
2.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Sale
Year built
1910
Construction
WOOD FRAME
Heating
YES
Cooling
YES
Stories
2
Bathrooms
3
Total area
3,728 SF
Lot
0.2 ac (8,712 SF)
APN
210020912
UPID
US82-3826406
Jurisdiction
TRAVIS
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$535,000
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1910
Construction
WOOD FRAME
Heating
YES
Cooling
Yes
Stories
2
Bathrooms
3
Lot
0.2 ac
Current owner
From public records · entity-resolved
Pa Doc INC
Entity
Mailing address
506 W 15TH ST, AUSTIN, TX 78701-1550
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
1997
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 19, 1997
—
Pa Doc INC
Winslow,grover C
Grant Deed
$214,905 · Heller First Capital
Jun 3, 1997
—
Grover C Winslow
Anderson Creative Learning Cen
Grant Deed
related
—
—
—
Ronald G Greening
—
Deed Of Trust
related
$250,000 · John Hoberman
—
—
Ronald G Greening
—
Deed Of Trust
related
$350,000 · C Aubrey Smith JR Ps Trust
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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