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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    624 Austin Ave Georgetown, TX 78626-5707

    • Commercial real estate
    • 18,992 SF
    • 0.36 lot acres
    OFF-MARKET
    Value Estimations
    $740,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-0340910
    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

    • Nichols Sandra / Alternative Medicine Practice / Spa & Massage Center
    • Georgetown Counseling / Counselor
    • Bank of America ATM (Drive-thru) / Atm
    • Array / Business To Business Service
    • Latina Bolick, LPC / Counselor

    Property Details for 624 Austin Ave

    Year built
    1980
    Lot size
    0.36 lot acres
    Property size
    18,992 SF
    Property type
    Commercial real estate
    APN
    R-20-2000-0037-0001A
    APU
    R20200000370001A

    Description

    This exceptional office building, located directly on the vibrant Georgetown Square in Texas, offers a rare opportunity to lease space in a recently renovated property. The 21,132 square foot building boasts a stunning new exterior facade and completely updated interior corridors and common areas. Mechanical and electrical systems have been upgraded to the highest standards. The building features two stories and includes an elevator for convenient access. Tenants will enjoy access to a state-of-the-art conference facility, equipped with video conferencing capabilities and able to accommodate up to 20 guests. Available spaces range from 1,660 to 3,450 square feet, offering flexibility for businesses of various sizes. The building's location on the "most beautiful town square in Texas" provides unparalleled walkability and access to a thriving downtown area. This is a unique opportunity to establish a presence in a highly desirable and sought-after location. The building's traditional, creative, and executive office spaces cater to a variety of business needs. The 2024 renovations ensure modern amenities and a comfortable work environment. Multiple tenancies are available. The address is 624 S Austin Ave, Georgetown, TX 78626.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $540,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $937,000
      Market price range: $937k - $3.29M

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

    Location Insight

    • Map
    • Local Demand
    City
    Georgetown
    County
    Williamson
    State
    Texas
    Longitude
    -97.6783
    Latitude
    30.6378
    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
    2023
    $42,600
    $1,334,461
    $534,039
    $1,868,500
    -
    $1,334,461
    $534,039
    $1,868,500

    Comparable in this City

    • Value Estimation by Request
      15,860 SF

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      Individual retail properties • 15,860 SF
      3900 Fm 1460, Georgetown, TX 78626
      View Details
    • Value Estimation by Request
      3,116 SF

      1221-1225 Austin Ave

      Commercial real estate • 3,116 SF
      1221-1225 Austin Ave, Georgetown, TX 78626
      View Details
    • Value Estimation by Request
      1.50 Acres

      University Blvd & Lunata Way

      Land • 1.50 Acres
      0 University Blvd & Lunata Way, Round Rock, TX 78626
      View Details
    • Value Estimation by Request
      87.49 Acres

      1150 Co Rd

      Land • 87.49 Acres
      1150 Co Rd, Georgetown, TX 78626
      View Details
    • Value Estimation by Request

      600 Co Rd

      Land
      600 Co Rd, Georgetown, TX 78626
      View Details
    • Value Estimation by Request
      114,215 SF

      900-930 Austin Ave

      Retail properties • 114,215 SF
      900-930 Austin Ave, Georgetown, TX 78626
      View Details

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    Similar Nearby for Lease

    • $11 SF/Yr
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      Georgetown Flex Space For Lease

      Modern Flex Space, 1,750-5,000 SF Available
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      Georgetown Retail Space - Prime Location

      High-visibility retail space, 3,428 sq ft.
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    • $18 SF/Yr
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      Georgetown Retail Space For Lease

      Prime Georgetown retail, multiple spaces available.
      900-930 Austin Ave, Georgetown, TX 78626
      View Details
    • $1.44 SF/Yr
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      Georgetown Flex Space For Lease

      Versatile property with office, warehouse, and yard space available for lease.
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    • $8,428 /Mo
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      Office Space Near Housing Development

      Office space in a developing community near major amenities.
      2301 Westinghouse Rd, Georgetown, TX 78626
      View Details
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    624 Austin Ave
    Georgetown, TX 78626-5707
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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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