Sweet, Sweet Land Cover Play 2214 S 1st St 860 SF Retail Building Austin, TX 78704 $1,550,000 ($1,802.33/SF) 3.92% Cap Rate
INVESTMENT HIGHLIGHTS
- Location , walkable, near high end developments.
- Rare Downtown Austin Redevelopment Opportunity in the Sought-After South First Street/Bouldin Creek Neighborhood
- More Than 372,311 Residents (Five-Mile Radius) and an Average Household Income of $141,396 (One-Mile Radius)
- The Daytime Population Increases by 81 Percent Due to 675,249 Employees Within a Five-Mile Radius
EXECUTIVE SUMMARY
One-story free-standing house with 6 parking spots on the back. Front entry and back ramp. Bathroom and kitchen. Great location with several brand new mixed-used projects in progress nearby. Fully permitted for food services, coffee shop etc., grease tarp present. Heavy day-time foot traffic. High net worth clientele. Amazing location with views of downtown. Great for owner/user or investor, also, great redevelopment opportunity in the long term. A mixed-used large development was just completed access the street and 5 other huge mixed-used developments in the works with completion dates in the next 1-2 years. Perfect spot for retail, office or drive in coffee , donuts, ice-cream, juice shop, Boba tea, etc.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$67,405
|
$78.38
|
| Other Income |
$19,062
|
$22.17
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$86,467
|
$100.54
|
| Taxes |
$15,549
|
$18.08
|
| Operating Expenses |
$787
|
$0.92
|
| Total Expenses |
$16,336
|
$19.00
|
| Net Operating Income |
$70,131
|
$81.55
|
PROPERTY FACTS
Sale Type
Investment
Sale Conditions
Property Type
Retail
Property Subtype
Building Size
860 SF
Building Class
C
Year Built
1973
Price
$1,550,000
Price Per SF
$1,802.33
Cap Rate
3.92%
NOI
$60,686
Tenancy
Single
Building Height
1 Story
Building FAR
0.16
Lot Size
0.12 AC
Zoning
CS - Zoned, general commercial. Perfect spot for retail, office or drive through restaurant. Huge redevelopment potential.
Parking
5 Spaces (5.81 Spaces per 1,000 SF Leased)
Frontage
70’ on S 1st St
AMENITIES
- Pylon Sign
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
- HEB
- Retailer
- -
- -
- -
- Phoebe's Diner
- Retailer
- -
- -
- -
- Starbucks
- Retailer
- -
- -
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
| HEB | Retailer | - | - | - | ||
| Phoebe's Diner | Retailer | - | - | - | ||
| Starbucks | Retailer | - | - | - |
Walk Score®
Walker's Paradise (94)
Bike Score®
Very Bikeable (71)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 303817 | Total Assessment | $859,410 (2023) |
| Land Assessment | $772,500 (2023) | Annual Taxes | $15,549 ($18.08/SF) |
| Improvements Assessment | $86,910 (2023) | Tax Year | 2025 Payable 2026 |
CONTACTS
-
Tony Lazarov -
Daniel Pettit -
REsavvy, LLC
