2900 Congress AveAustin, TX 78704

Property Details for 2900 Congress Ave

Year built

1984

Lot size

0.71 AC

Property size (Sq ft)

12,016 SF

Property type

Office buildings

APN

405030843

APU

405030843

Description

This exceptional value-add redevelopment opportunity presents a 12,010 square foot, multi-tenant property located at 2900 S Congress Ave, Austin, TX 78704. The property, built in 1984 and renovated in 2007, consists of a single, two-story building situated on a 30,928 square foot lot. Currently boasting 100% occupancy with 15 tenants across 21 units, the property generates a pro-forma NOI of $301,476. The property features 35 parking spaces and is zoned CS (CS-V-CO-NP). This NNN-leased property presents a compelling investment opportunity in a vibrant Austin growth corridor, with its proximity to the under-construction H-E-B South Congress redevelopment promising increased foot traffic and value appreciation. The property's flexible layout accommodates a variety of retail, office, and service concepts. This is a truly unique retail space with a contemporary design, offering excellent visibility and ample parking. The property is classified as a storefront, shopping center, and creative office space. No tenant credit rating is available.

• CAP approach

  CAP return

  Valuation

  6%

  $3,448,030

  6.5%

  $3,182,797

  7%

  $2,955,454

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,597,470

  Geo Method

  $3,597,470

• Alternative Use

  Use

  Valuation

  Residential Income

  $3,946,668

  Hospitality / Lodging

  $3,615,127

  Institutional / Educational

  $3,007,743

  Healthcare / Senior Housing

  $3,111,184

  Retail / Commercial

  $4,678,712

Location Insight

City

Austin

County

Travis

State

Texas

Latitude

30.2336

Longitude

-97.7585

CBSA code

12420

CBSA name

AUSTIN-ROUND ROCK, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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