505 7Th StAustin, TX 78701
High-cashflow potential, redevelopment upside
Overview
- Added:
- Dec 11, 2024
- Days on market:
- 93
Highlights
- Exceptional Austin, TX investment opportunity: 6,334 sq ft, two-story building on a 5,924 sq ft lot in the CBD.
- Currently leased to Kingdom Nightclub with a 10-year NNN lease (expiring 12/31/2030), $40,236 NOI, and 1.49% cap rate; 4% annual rent increases.
- Strong pro-forma projections: $443,380 NOI and 16.45% cap rate upon lease expiration (projected $70/sq ft rent).
- Asking price: $2,695,000 ($425.48/sq ft building, $556.21/sq ft land); priced below market value, considering land potential.
- Prime location: One block from the 6th Street revitalization project, offering significant long-term appreciation potential; zoned for CBD use.
Property Details for 505 7Th St
- Property type
- Other specialty properties, Specialty properties
- Square Feet
- 6,334 SF
- Year Built/Renovated
- 1961/2021
- Buildings
- 1
- Stories
- 2
- Units
- 1
Location Insight
- City
- Austin
- County
- Travis
- State
- Texas
- Latitude
- 30.267617666715
- Longitude
- -97.737372922889
Nearby Similar for Sale
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