501 Congress AveAustin, TX 78701

Property Details for 501 Congress Ave

Year built

1962

Construction

CONCRETE

Lot size

0.54 AC

Property size (Sq ft)

87,216 SF

Property type

Office properties

Property subtype

Office buildings

APN

206030615

APU

206030615

Description

This exceptional Austin office building, located at 501 Congress Ave in the heart of Travis County (zip code 78701), offers 112,792 square feet of prime office space. Currently, the entire building is available, providing a unique opportunity for a single tenant or multiple tenants seeking flexible space options. Suites range from a minimum of 5,771 square feet to a maximum contiguous space of 21,280 square feet, accommodating a variety of business needs. The building boasts eight total suites, categorized as both Executive and Creative Office space, making it ideal for a range of professional settings. Amenities include a desirable outdoor terrace, a fully equipped fitness center with showers, and a spacious open atrium lobby perfect for hosting events. The building's prime location provides unparalleled access to Austin's vibrant culinary scene, diverse shopping options, and rich cultural attractions. Enjoy stunning views of the Austin skyline. Furthermore, the ground floor features convenient retail spaces with direct access to a newly constructed parking garage, ensuring ease of access and convenience for employees and clients alike. This is a truly remarkable opportunity to secure a prestigious address in the dynamic city of Austin, Texas.

• CAP approach

  CAP return

  Valuation

  6%

  $25,026,914

  6.5%

  $23,101,766

  7%

  $21,451,640

• Comparable approach

  Method

  Valuation

  Relative Method

  $26,111,598

  Geo Method

  $26,111,598

• Alternative Use

  Use

  Valuation

  Residential

  $28,646,190

  Hospitality

  $26,239,756

  Educational

  $21,831,170

  Medical

  $22,581,976

  Retail

  $33,959,596

Location Insight

City

Austin

County

Travis

State

Texas

Latitude

30.2673

Longitude

-97.7426

CBSA code

12420

CBSA name

AUSTIN-ROUND ROCK, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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