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    6221 Mcneil Dr Austin, TX 78729
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    Property profile & analytics

    6221 Mcneil Dr, Austin, TX 78729

    View on Map
    • Strip malls
    • 38,950 SF
    • 6.71 lot acres
    Off-Market
    Property ID
    US82-3642408
    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.
    Value Estimations
    $620,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Strip malls

    Property Details for 6221 Mcneil Dr

    Year built
    1997
    Construction
    CONCRETE
    Lot size
    6.71 lot acres
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    170011501
    APU
    170011501

    Description

    McNeil Crossing, located at 6221 McNeil Dr, Austin, TX 78729, offers exceptional retail space in a prime Austin location. This multi-tenant property boasts a total of 37,500 square feet and features two available suites. One suite offers 1,200 square feet, previously occupied by The Scholar Ship, and is immediately available. Another suite, measuring 2,800 square feet, is also available. This space was formerly occupied by Apts Now. The property is conveniently situated near Parmer Lane, providing excellent visibility and accessibility. While other spaces within the building were previously occupied by Austin Ninjas (5,600 SF, lease pending) and Republic Finance (1,400 SF, lease pending), these are not currently available. The minimum divisible space is 1,200 square feet, with a maximum contiguous space of 2,800 square feet. This presents a unique opportunity for businesses seeking flexible and well-located retail space in a thriving Austin market. The property's strategic location and diverse suite sizes make it an ideal choice for a variety of retail ventures. Inquire today to learn more about leasing opportunities at McNeil Crossing.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $500,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $739,000
      Market price range: $700k - $2.04M

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

    Location Insight

    • Map
    • Local Demand
    City
    Austin
    County
    Travis
    State
    Texas
    Longitude
    -97.7449
    Latitude
    30.442
    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
    $144,906
    $4,383,660
    $2,716,340
    $7,100,000
    -
    $4,383,660
    $2,716,340
    $7,100,000

    Comparable in this City

    • Value Estimation by Request
      13,218 SF

      6208 Mcneil Dr

      SHOPPING CENTER, STRIP CENTER
      6208 Mcneil Dr, Austin, TX 78729-7505
      View Details
    • Value Estimation by Request
      6,370 SF

      6309 Parmer Ln

      SHOPPING CENTER, STRIP CENTER
      6309 Parmer Ln, Austin, TX 78729
      View Details
    • Value Estimation by Request
      7,043 SF

      13033 Pond Springs Rd

      Retail properties & Spaces
      13033 Pond Springs Rd, Austin, TX 78729
      View Details
    • Value Estimation by Request
      3,234 SF

      6301 Parmer Ln

      DRIVE-THRU RESTAURANT, FAST FOOD
      6301 Parmer Ln, Austin, TX 78729-6801
      View Details
    • Value Estimation by Request
      2,128 SF

      6750 Corpus Christi Dr

      AUTO REPAIR, GARAGE
      6750 Corpus Christi Dr, Austin, TX 78729-7508
      View Details
    • Value Estimation by Request
      2,400 SF

      6758 Corpus Christi Dr

      CONVENIENCE STORE
      6758 Corpus Christi Dr, Austin, TX 78729-7508
      View Details

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      4,200 SF

      Prime Retail Location in Austin

      Excellent visibility and access in a strong retail corridor.
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      3,200 SF

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      2,231 SF

      Northwest Austin Office Building For Sale

      2,231 SF office building with fenced yard on 0.86 acres.
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    Similar Nearby for Lease

    • Contact for pricing
      1,200 SF

      Retail Space Available for Lease

      Retail suites available in Austin, TX with easy highway access.
      7318 Mcneil Dr, Austin, TX 78729
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      1,000 SF

      Commercial Space Available For Rent

      1000 sqft commercial space for rent in Austin, TX.
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      782 SF

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      Office space available for rent in Northwest Austin.
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      8,939 SF

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    Request Owner's contact information
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    6221 Mcneil Dr
    Austin, TX 78729
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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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