Long-Term Ground Leased Asset 1500 E 6th St 5,400 SF Retail Building Austin, TX 78702 $6,599,000 ($1,222.04/SF) 6.18% Cap Rate

1500 East 6th Street offers a rare opportunity to acquire a prominent entertainment and hospitality property in the heart of East Austin. Home to the iconic Hotel Vegas, the property occupies a highly visible position along East 6th Street, one of Austin’s most established nightlife, dining, and entertainment corridors.
With approximately 97 years remaining on the ground lease, 3% annual rent increases, and existing improvements utilizing only a fraction of the site’s allowable density, the property offers both durable long-term income and compelling future redevelopment potential.
Located just east of Downtown Austin, the property provides excellent connectivity to the Central Business District, I-35, East 5th Street, Cesar Chavez Street, and the surrounding East Austin neighborhoods. Surrounded by some of Austin’s most popular restaurants, bars, music venues, hotels, and residential developments, 1500 East 6th Street presents a unique opportunity for investors and developers seeking a high-profile position in one of the city’s most active and recognizable urban districts.
The information contained herein has been gathered from sources deemed reliable; however, McAllister & Associates, and its principals, members, officers, associates, agents and employees cannot guarantee the accuracy of such information. The information contained herein is subject to changes, errors, omissions, prior sale, withdrawal of property from the market without prior notice, and approval of purchase by owner. Prospective buyers should verify all information to their satisfaction. No representation is made as to the possible value of this investment or type of use, and prospective buyers are urged to consult with their tax and legal advisors before making a final determination.
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