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

    728 Northwestern Ave Austin, TX 78702-3555

    • Office buildings
    • 4,937 SF
    • 0.17 lot acres
    OFF-MARKET
    Value Estimations
    $530,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-1876753
    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

    • Enboarder / Software Company
    • IA | Interior Architects / Architect / Architectural Designer
    • FYOOG / Architecture Firm

    Property Details for 728 Northwestern Ave

    Year built
    2019
    Construction
    WOOD FRAME
    Lot size
    0.17 lot acres
    Property size
    4,937 SF
    Property type
    Office buildings
    APN
    204100611
    APU
    204100611

    Description

    Northwestern Studios, located at 728 Northwestern Avenue in Austin, Texas, 78702, offers 4,937 square feet of creative office space currently available for lease. This two-story building features a unique design incorporating 10-12 foot ceiling heights and 10-foot floor-to-ceiling glass windows, flooding the space with natural light. The property includes a shared courtyard with a wood deck and outdoor working areas, providing a collaborative and inspiring environment. Parking is conveniently located and provided at a ratio of 3 spaces per 1,000 square feet. Situated in Travis County, near East 7th Street between Pleasant Valley and Chicon Street, this property benefits from its proximity to East Austin's vibrant amenities. The building's thoughtful design and modern features create a dynamic workspace ideal for modern professionals seeking a creative and collaborative atmosphere. The entire 4,937 square feet is currently vacant and available for lease as a single unit. This unique property offers a blend of modern functionality and inspiring outdoor space, making it an exceptional opportunity for a creative business seeking a prominent location in Austin's thriving East side.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $350,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $708,000
      Market price range: $262k - $1.37M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $875,000
      COMMERCIAL (GENERAL)
      $805,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Austin
    County
    Travis
    State
    Texas
    Longitude
    -97.7144
    Latitude
    30.2622
    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
    $51,348
    $633,250
    $1,973,750
    $2,607,000
    -
    $633,250
    $1,973,750
    $2,607,000

    Comparable in this City

    • Value Estimation
      $765,000
      11,200 SF

      5323 Levander Loop

      OFFICE BUILDING • 11,200 SF
      5323 Levander Loop, Austin, TX 78702-5146
      View Details
    • Value Estimation
      $720,000
      16,220 SF

      2600 Martin Luther King Jr Blvd

      OFFICE BUILDING • 16,220 SF
      2600 Martin Luther King Jr Blvd, Austin, TX 78702-1449
      View Details
    • Value Estimation
      $1,585,000
      31,191 SF

      835 Pleasant Vly Rd

      OFFICE BUILDING • 31,191 SF
      835 Pleasant Vly Rd, Austin, TX 78702-3601
      View Details
    • Value Estimation
      $2,135,000
      11,480 SF

      112 Medina St

      OFFICE BUILDING • 11,480 SF
      112 Medina St, Austin, TX 78702-4231
      View Details
    • Value Estimation by Request
      6,064 SF

      2111 Sl Davis Ave

      OFFICE BUILDING • 6,064 SF
      2111 Sl Davis Ave, Austin, TX 78702-2220
      View Details
    • Value Estimation
      $1,760,000
      31,846 SF

      2021 5th St

      OFFICE BUILDING • 31,846 SF
      2021 5th St, Austin, TX 78702-4508
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,334 SF

      East Austin Boutique Commercial Building

      Renovated East Austin building with favorable zoning and gated parking.
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      738 SF

      Prime Austin Office Space - 78702

      738 SF Office, High Visibility, Abundant Parking
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    • $525,000
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      Downtown Austin Office Space

      Prime Austin location, versatile office space.
      1601 Cesar Chavez St, Austin, TX 78702
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    • $2,250,000
      0.32 Acres

      East Austin Creative Office Site

      Prime Redevelopment Opportunity: Two Buildings, 0.32 Acres
      1308 12Th St, Austin, TX 78702
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      2,039 SF

      East Austin Mixed-Use Property

      Prime East Austin location; live/work potential.
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    • $1,995,000
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      Move-in-Ready Office Condo For Sale

      Office condo with private offices, conference rooms, and open space.
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      View Details

    Similar Nearby for Lease

    • Contact for pricing
      148,997 SF

      Austin Office Space For Rent

      Office building with 148997 square feet available for lease.
      3100 E 5Th St, Austin, TX 78702
      View Details
    • Contact for pricing
      1,135 SF

      Freestanding Office/Retail Building For Rent

      1,135 SF office/retail building in high-growth redevelopment area.
      1105 Clermont Ave, Austin, TX 78702
      View Details
    • $36 SF/Yr
      1,051 SF

      1601 Cesar Chavez St

      Office space
      1601 Cesar Chavez St, Austin, TX 78702
      View Details
    • $47 SF/Yr
      93,000 SF

      T3 Austin Eastside Executive Suites

      Premium East Austin Office Space Available
      1211 4Th St, Austin, TX 78702
      View Details
    • $1,650 /Mo

      Office Space in Heart of Austin

      Office space for rent close to Downtown Austin and restaurants.
      2303 E Cesar Chavez St, Austin, TX 78702
      View Details
    • Contact for pricing
      20,350 SF

      East Austin Boutique Office Space

      Class A office space in a dynamic, fast-growing East Austin neighborhood.
      3300 E 7Th St, Austin, TX 78702
      View Details
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    728 Northwestern Ave
    Austin, TX 78702-3555
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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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