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702 Shady Ln
Austin, TX 78702
Retail Property For Sale
Investment Highlights
- Fully leased under a 10-year absolute NNN lease commenced in June 2021.
- Substantial 2021 capital improvements, including roof upgrades and new HVAC systems.
- Stabilized income stream with 2.5% annual rent escalations and NOI of $360,000.
- Positioned in East Austin’s booming Govalle neighborhood, blending cultural, residential, and retail demand drivers.
Executive Summary
702 Shady Lane offers a fully stabilized retail investment in the heart of East Austin, a rapidly growing neighborhood known for its eclectic mix of entertainment, dining, and cultural venues. The 13,183-square-foot property sits on a prominent 0.44-acre site and has been extensively renovated to align with modern standards. Major improvements include a new roof on the flat section, three new 10-ton commercial HVAC units, and confirmation of the sloped roof’s excellent condition.
Currently occupied by Wanderlust Wine Co. under a long-term, absolute NNN lease, the asset provides investors with secure, predictable income and built-in rent escalations. The property’s flexible floor plan, updated systems, and large outdoor patio position it as a destination for experiential retail and social concepts. Located in an Opportunity Zone and surrounded by a thriving East Austin community, this investment combines immediate cash flow with strong long-term upside in one of Austin’s most vibrant submarkets.
Currently occupied by Wanderlust Wine Co. under a long-term, absolute NNN lease, the asset provides investors with secure, predictable income and built-in rent escalations. The property’s flexible floor plan, updated systems, and large outdoor patio position it as a destination for experiential retail and social concepts. Located in an Opportunity Zone and surrounded by a thriving East Austin community, this investment combines immediate cash flow with strong long-term upside in one of Austin’s most vibrant submarkets.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Freestanding
Building Size
13,183 SF
Building Class
C
Year Built
1951
Price
$5,142,857
Price Per SF
$390.11
Cap Rate
7%
NOI
$360,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.69
Lot Size
0.44 AC
Opportunity Zone
Yes
Zoning
CS-CO-NP
Frontage
151’ on Shady Lane
Property Taxes
| Parcel Number | 190081 | Improvements Assessment | $1,301,205 |
| Land Assessment | $1,054,130 | Total Assessment | $2,355,335 |
Property Taxes
Parcel Number
190081
Land Assessment
$1,054,130
Improvements Assessment
$1,301,205
Total Assessment
$2,355,335
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