2406 Rosewood AveAustin, TX 78702

Property Details for 2406 Rosewood Ave

Year built

2004

Lot size

3.15 AC

Property size (Sq ft)

43,289 SF

Property type

Office buildings

APN

208120601

APU

208120601

Description

This exceptional mixed-use redevelopment opportunity presents a unique chance to acquire a substantial 43,289 square foot property situated on a generous 3.152-acre lot in Austin, Texas. Located at 2406 Rosewood Ave, in the desirable 78702 zip code, this property boasts a prime location near St. David's Hospital and Medical Center, offering easy access to downtown Austin, the airport, and thriving surrounding neighborhoods. The existing structure, a two-story building constructed in 1936 and renovated in 2004, currently operates at 100% occupancy. The property is zoned CS-MU-CO-NP, SF-3-NP, allowing for a wide range of development possibilities. Currently utilized as a single-tenant facility, the seller is offering a sale-leaseback arrangement extending until June 15, 2024, providing a seamless transition for the buyer. This presents a compelling investment opportunity in a high-growth market, with significant potential for future development. The property's size and location make it an ideal candidate for a variety of projects, capitalizing on the area's robust economic growth and increasing demand for commercial and residential space. The existing building provides immediate income potential while allowing ample time to plan and execute a comprehensive redevelopment strategy. This is a rare chance to acquire a substantial property in a highly sought-after Austin location.

• CAP approach

  CAP return

  Valuation

  6%

  $14,078,200

  6.5%

  $12,995,200

  7%

  $12,067,000

• Comparable approach

  Method

  Valuation

  Relative Method

  $12,960,300

  Geo Method

  $12,960,300

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $26,116,400

  Retail / Commercial

  $13,288,200

  Mixed-Use / Specialty

  $13,158,800

  Hospitality / Lodging

  $9,547,430

  Institutional / Educational

  $13,650,600

  Residential Income

  $15,971,200

  Multifamily

  $19,609,700

  Automotive / Energy

  $11,700,500

  Parking / Income-Based Land

  $4,118,740

  Restaurant / Food Service

  $6,668,960

  Healthcare / Senior Housing

  $13,578,300

Location Insight

City

Austin

County

Travis

State

Texas

Latitude

30.2725

Longitude

-97.7089

CBSA code

12420

CBSA name

AUSTIN-ROUND ROCK, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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