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Gaston Place Shopping Center 1804 Briarcliff Blvd 9,149 SF 100% Leased Retail Building Austin, TX 78723 $3,050,000 ($333.37/SF) 5.56% Cap Rate
Investment Highlights
- 1960 Construction / 2024 Renovation. 9,150+/- SF Building on 1.12+/- Acre Site
- Located Just North of The Mueller District with Proximity to Downtown and UT Campus
- Adjacently Located to Windsor Commons - Brand-New, Class-A, Mixed-Use Multi-Family & Retail Development
- Potential Redevelopment Opportunity - Positioned for an Aggressive Vertical Redevelopment, Creating Significant Upside Opportunity
- Situated in High-Spending Submarket, Benefiting from Avg. HH Incomes of $107,031 w/in 1-Mi. & $139,119 w/in 5-Mi.
- Austin | One of the Fastest-Growing Cities in the U.S. | Population: 986,928+
Executive Summary
Below Market Rents - Avg. Base Rental Rate of only $18.95 PSF while Other Tenants in the Center are Paying Base Rate of $30.60 PSF
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
9,149 SF
Building Class
B
Year Built/Renovated
1960/2024
Price
$3,050,000
Price Per SF
$333.37
Cap Rate
5.56%
NOI
$169,589
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.19
Lot Size
1.12 AC
Opportunity Zone
Yes
Zoning
F1 - Commercial
Bike Score®
Very Bikeable (82)
Nearby Major Retailers
Property Taxes
| Parcel Number | 223578 | Improvements Assessment | $120,347 |
| Land Assessment | $1,225,000 | Total Assessment | $1,345,347 |
Property Taxes
Parcel Number
223578
Land Assessment
$1,225,000
Improvements Assessment
$120,347
Total Assessment
$1,345,347
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Gaston Place Shopping Center | 1804 Briarcliff Blvd
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