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1628 S 1st Street 1628 S 1st St 1,000 SF 100% Leased Retail Building Austin, TX 78704 $2,175,000 ($2,175/SF) 3.22% Cap Rate
Investment Highlights
- Prime residential / commercial development location +/- 1 mile South of Downtown Austin *New City Code lifts many restrictions!
- Heavy traffic flow: 11,000+ daily; Major development up and down South 1st
- Beautiful renovated vintage building ready for owner occupancy and improvements
Executive Summary
Rare opportunity to own a part of South 1st Street!
11,000+ daily average traffic count as of 2020,
a mile from downtown.
Rent or owner occupy renovated 1934 Vintage building.
* New affordable housing, height and density incentives via City of Austin! (see City Code).
* City has lifted parking requirements!!! (this enables greater development potential - see City Code for details)
* Huge Commercial / Residential development potential: CS up to 65' height; Or just put tiny houses/offices in back to triple the income!
* 95% impervious could allow up to potentially 20,000+/- rentable square feet (with City approval).
* Owner Financing available *
11,000+ daily average traffic count as of 2020,
a mile from downtown.
Rent or owner occupy renovated 1934 Vintage building.
* New affordable housing, height and density incentives via City of Austin! (see City Code).
* City has lifted parking requirements!!! (this enables greater development potential - see City Code for details)
* Huge Commercial / Residential development potential: CS up to 65' height; Or just put tiny houses/offices in back to triple the income!
* 95% impervious could allow up to potentially 20,000+/- rentable square feet (with City approval).
* Owner Financing available *
Financial Summary (Actual - 2025) 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 |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2025) 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 | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
Sale Type
Investment or Owner User
Sale Condition
Redevelopment Project
Property Type
Retail
Property Subtype
Building Size
1,000 SF
Building Class
B
Year Built/Renovated
1936/2014
Price
$2,175,000
Price Per SF
$2,175
Cap Rate
3.22%
NOI
$70,000
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.15
Lot Size
0.15 AC
Zoning
CS-MU-V-CO-NP - CS = most commercial uses; and/or
MU = Multi-Use. includes high-density residential;
V = 65' height, 95% impervious w City approvals.
*please verify
Parking
9 Spaces (9 Spaces per 1,000 SF Leased)
Frontage
Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Monument Signage
- Air Conditioning
Very walkable
80/100
Exceptionally drivable
90/100
Some public transit
50/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 302976 | Total Assessment | $400,000 |
| Land Assessment | $400,000 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $0 | Tax Year | 2025 Payable 2025 |
Property Taxes
Parcel Number
302976
Land Assessment
$400,000
Improvements Assessment
$0
Total Assessment
$400,000
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025 Payable 2025
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Videos
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Photos
Street View
Street
Map
Presented by
Armstrong Group LC
1628 S 1st Street | 1628 S 1st St
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