2915 Medical Arts St
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2915 Medical Arts St
1,870 SF Office Building Austin, TX 78705 $2,095,000 ($1,120/SF) 5.38% Cap Rate
Investment Highlights
- Heavy daytime foot traffic
- Large lot, plenty of parking.
- Owner occupant or Investor.
- Easy access, great location.
- High end remodel and turnkey.
Executive Summary
Fully remodeled free-standing 1-story office or retail. 16 parking spaces, walkable and amazing location 5 min walk from the UT campus. Large lot. the building consists of a reception area, 2 bathrooms, a kitchen, a conference room, a utility closet, and 8 private offices. It has a large storage shed in the back. High-end finish outs. Currently rented to a Real Estate Firm and a property management company at $61/ft gross. Tenants can vacate with 60 day notice or stay for the rest of their leases. Leases end at the end of 2025.
Perfect property for an investor or owner-occupant. Great land value with high redevelopment potential;.
Perfect property for an investor or owner-occupant. Great land value with high redevelopment potential;.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Medical
Building Size
1,870 SF
Building Class
C
Year Built
1950
Price
$2,095,000
Price Per SF
$1,120
Cap Rate
5.38%
NOI
$112,800
Tenancy
Single
Building Height
1 Story
Typical Floor Size
1,845 SF
Building FAR
0.20
Lot Size
0.21 AC
Zoning
GR-MU-CO-NP - Zoned Community Commercial, Mixed Use, Neighborhood Plan
https://www.austintexas.gov/sites/default/files/files/Planning/zoning_guide.pdf
Parking
16 Spaces (8.56 Spaces per 1,000 SF Leased)
Amenities
- Bus Line
- Raised Floor
- Security System
- Signage
- Kitchen
- Central Heating
- High Ceilings
- Air Conditioning
- Fiber Optic Internet
- Smoke Detector
MAJOR TENANTS Click Here to Access
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
-
- Real Estate
-
99,999 SF
-
$9.99
-
Lorem Ipsum
-
Jan 0000
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
|
|
Real Estate | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 |
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Walk Score ®
Very Walkable (80)
Bike Score ®
Very Bikeable (89)
PROPERTY TAXES
| Parcel Number | 206938 | Total Assessment | $1,600,000 |
| Land Assessment | $1,350,000 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $250,000 | Tax Year | 2023 Payable 2024 |
PROPERTY TAXES
Parcel Number
206938
Land Assessment
$1,350,000
Improvements Assessment
$250,000
Total Assessment
$1,600,000
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023 Payable 2024
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2915 Medical Arts St
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