7745 Chevy Chase DrAustin, TX 78752

Property Details for 7745 Chevy Chase Dr

Year built

1975

Construction

CONCRETE

Lot size

2.23 AC

Property size (Sq ft)

61,824 SF

Property type

Office buildings

APN

232150115

APU

232150115

Description

This exceptional investment opportunity presents Chase Park Building 5, a three-story, Class B office building totaling 57,468 square feet of net rentable space. Located at 7745 Chevy Chase Dr, Austin, TX 78752, this property sits on a 2.23-acre lot and offers 76 parking spaces. Built in 1975, the building features a traditional office design. Currently operating under a multi-tenant lease with one tenant, the lease is a NNN type and expires February 28, 2027, leaving a remaining term of approximately 2.3 years. The current occupancy rate is 34%. The asking price is $6,700,000, translating to $116.59 per square foot. This owner-user opportunity presents a unique chance to acquire a well-maintained asset in a desirable Austin location. The property's strategic location provides excellent access to major transportation arteries, including I-35 and Highway 183. The substantial lot size offers potential for future development or expansion. This is a rare opportunity to acquire a significant office building in a thriving Texas market. The property is well-suited for a variety of uses, making it an attractive investment for both owner-occupiers and investors seeking a strong return. The building's features include a dramatic full-height atrium.

• CAP approach

  CAP return

  Valuation

  6%

  $19,658,804

  6.5%

  $18,146,588

  7%

  $16,850,404

• Comparable approach

  Method

  Valuation

  Relative Method

  $18,509,488

  Geo Method

  $18,509,488

• Alternative Use

  Use

  Valuation

  Residential

  $22,501,768

  Hospitality

  $20,611,500

  Educational

  $17,148,526

  Medical

  $17,738,290

  Retail

  $26,675,484

Location Insight

City

Austin

County

Travis

State

Texas

Latitude

30.3403

Longitude

-97.7028

CBSA code

12420

CBSA name

AUSTIN-ROUND ROCK, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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