1022 Payton Gin RdAustin, TX 78758

For Sale
$1,807,517

7,416 SF Retail Center, 100% Leased, 5% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
93
This Austin, Texas shopping center presents a compelling value-add investment opportunity. The 7,416 square foot, single-story building is situated on a 0.854-acre lot (37,200 sq ft) at 1022 Payton Gin Rd, zip code 78758, in Travis County. Currently 100% occupied by nine tenants under a gross lease with a three-year term, the property boasts a strong Net Operating Income (NOI) of $90,375, yielding a 5.00% capitalization rate. Built in 1974, the center is zoned LR-NP (Neighborhood Commercial-Neighborhood Plan Combining District) and benefits from below-market rents, offering significant potential for rental income growth through tenant repositioning. Its prime location, less than 1,500 feet from the intersection of Payton Gin Rd and North Lamar Boulevard, and less than a mile from HWY 183, provides excellent accessibility. The property's proximity to Navarro High School (over 1,500 students) and a population exceeding 336,000 within a 5-mile radius underscores its strong market position within this rapidly growing area of Austin. The asking price is $1,807,517. No ground lease is in place, and tenant credit is not rated.

Highlights

  • Fully leased.
  • Below-market rents offer upside potential.
  • Significant value-add opportunities exist.

Property Details for 1022 Payton Gin Rd

Property type
Lifestyle centers, Power centers
Square Feet
7,416 SF
Class
C
Year Built
1974
Stories
1

Location Insight

City
Austin
County
Travis
State
Texas
Latitude
30.360131164521
Longitude
-97.705340085457
1022 Payton Gin Rd, Austin, Texas

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1022 Payton Gin Rd
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