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2800 S IH-35 56,966 SF 99% Leased Office Building Austin, TX 78704 For Sale
Executive Summary
2800 South IH-35 is a 56,966-square-foot value-add medical-oriented asset located in an affluent neighborhood just south of Downtown Austin. The property benefits from a high concentration of existing healthcare tenancy—approximately 65% of in-place occupancy—providing stable, needs-based demand and long-term tenancy characteristics.
The investment opportunity is driven by below-market in-place rents (~15%) across both medical and non-medical tenants, creating a clear and executable value-add strategy through mark-to-market rent growth as existing leases naturally expire. Proforma NOI is expected to grow by ~34% over a 5-year hold.
2800 South IH-35 is located in an affluent, yet underserved Central Austin medical market, surrounded by several major hospital systems including Dell Seton Medical Center, St. David’s South Austin Medical Center, and Baylor Scott & White. The property sits within 3.5 miles of Dell Seton, less than 5 miles from Baylor Scott & White’s South Austin campus, and approximately 2.5 miles from St. David’s South, positioning it as a convenient outpatient location for providers serving the surrounding hospital networks. The average household income within a 5-mile radius is over $130,000.
Healthcare demand in Central Austin continues to grow, fueled by ongoing investment from regional health systems, population growth, and the broader shift toward outpatient care delivery. Limited new medical office supply in the immediate submarket has resulted in consistently low vacancy and sustained tenant demand, supporting long-term rent growth prospects. Combined with strong visibility, access, and a medical-capable parking ratio, 2800 South IH-35 offers investors an opportunity to acquire a cash-flowing, medical-weighted asset with durable tenancy and clear NOI upside through lease rollover and rental rate normalization.
The investment opportunity is driven by below-market in-place rents (~15%) across both medical and non-medical tenants, creating a clear and executable value-add strategy through mark-to-market rent growth as existing leases naturally expire. Proforma NOI is expected to grow by ~34% over a 5-year hold.
2800 South IH-35 is located in an affluent, yet underserved Central Austin medical market, surrounded by several major hospital systems including Dell Seton Medical Center, St. David’s South Austin Medical Center, and Baylor Scott & White. The property sits within 3.5 miles of Dell Seton, less than 5 miles from Baylor Scott & White’s South Austin campus, and approximately 2.5 miles from St. David’s South, positioning it as a convenient outpatient location for providers serving the surrounding hospital networks. The average household income within a 5-mile radius is over $130,000.
Healthcare demand in Central Austin continues to grow, fueled by ongoing investment from regional health systems, population growth, and the broader shift toward outpatient care delivery. Limited new medical office supply in the immediate submarket has resulted in consistently low vacancy and sustained tenant demand, supporting long-term rent growth prospects. Combined with strong visibility, access, and a medical-capable parking ratio, 2800 South IH-35 offers investors an opportunity to acquire a cash-flowing, medical-weighted asset with durable tenancy and clear NOI upside through lease rollover and rental rate normalization.
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Building Size
56,966 SF
Building Class
B
Year Built/Renovated
1976/2022
Percent Leased
99%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
28,483 SF
Slab To Slab
10’
Building FAR
0.41
Lot Size
3.20 AC
Zoning
GR NP - Community Commercial District
Parking
211 Spaces (3.7 Spaces per 1,000 SF Leased)
Amenities
- Bus Line
- Property Manager on Site
- Signage
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Professional, Scientific, and Technical Services
- -
- -
-
Lorem Ipsum
-
Jan 0000
BMD Medical Consulting is dedicated to controlling the rising costs of health care through our cost containment services. Cost containment is a process which begins and ends with the employer. Safety and training are the primary preventative actions that any company should undertake. However, when that unfortunate incident does arise, cost containment continues through the health care and rehabilitation processes.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Professional, Scientific, and Technical Services | - | - | Lorem Ipsum | Jan 0000 |
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
- 1st Fl-Ste 180
- 481 SF
- Office
- Full Build-Out
- Now
| Space | Size | Space Use | Condition | Available |
| 1st Fl-Ste 180 | 481 SF | Office | Full Build-Out | Now |
1st Fl-Ste 180
| Size |
| 481 SF |
| Space Use |
| Office |
| Condition |
| Full Build-Out |
| Available |
| Now |
Property Taxes
| Parcel Number | 289704 | Improvements Assessment | $0 |
| Land Assessment | $10,000,000 | Total Assessment | $10,000,000 |
Property Taxes
Parcel Number
289704
Land Assessment
$10,000,000
Improvements Assessment
$0
Total Assessment
$10,000,000
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2800 S IH-35
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