Active

1017 Ranch Road 620 S

Lakeway TX, 78734

$2,600,000


$282.61 per sqft

Active

9,200 sqft

Commercial

Built in 1985

Gold Tier Real Estate is proud to present a 9,200 multi-tenanted retail/office building in the heart of Lakeway! The building is 100% occupied with a mix of strong service based tenants. Each space is less than 1,425 square feet, making it easy to lease. The pro-forma already shows an attractive 7.89% cap rate, but additionally, there is a clear value-add strategy by increasing the lease rates and converting to NNN over time.

Don't miss your chance to secure a prime piece of 620 real estate!

**Buyer to conduct all independent research on the property.**

**Broker Disclosure - Broker is a part owner in the property.**


Highlights

Pro Forma 7.89% Cap Rate
Below Market Sales Price
Recently Renovated
Boutique Retail/Office Suites
Service Based Tenants
100% Occupied with Rental Increases
Value-Add Opportunity (Increase Rents & Convert to NNN)

4764028

MLS ID

September 27, 2023

Listed

February 15, 2024

Updated

Map

1017 Ranch Road 620 S
Lakeway TX, 78734

Interior Features

Floor Description

Laminate, Vinyl


Fireplace

No


Cooling

Yes


Cooling Description

See Remarks


Heating

Yes


Heating Description

See Remarks

Exterior/Building Features

Lot Size

0.67 Acres


Sewer

Septic Tank

Other Property Details

Area Name

LS


Taxes

$30,761


Tax Frequency

Annually


Garage

No


Parking

Additional Parking


View

No


County

Travis


Water Source

Public


Pool

No


Buyer Agency Compensation

3%

Listing History

Date

Event

Price

1/9/2024

Price Change

$2,600,000

-4%

10/18/2023

Price Change

$2,700,000

-4%

Courtesy of Gold Tier Real Estate, LLC

Listing Contact: (512) 674-5727

Disclaimer: All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change, or withdrawal. Neither listing broker(s) nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Austin/Central Texas Realty Information Service.

Listings courtesy of ACTRIS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of ©2024 (date and time MLS GRID Data was obtained). All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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Database last updated 7:15 PM UTC, 2/15/2024

 

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