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Analyze more property details including ownership and financial history. Share advanced property insights with your clients and teams.
22285210
22285209

2214 S 1st St, Austin, TX 78704

TL
TX 9005423
REspace LLC
Respace LLC
Listed by REspace LLC, Respace LLC
$1,495,000
465 days on market
Updated 24 days ago

Great land covered play

Details
Property Type Land
Sub Type Covered land play
Square Footage 793
Net Rentable (SqFt) 793
Units 1
Cap Rate 4.17%
NOI $62,400
Occupancy 100%
Tenancy Single
Brand/Tenant H-E-B
Lease Type Net
Lease Term 5
Lease Expiration 02/28/2031
Remaining Term 4.7
Rent Bumps Yes
Lease Options For Sale
Pro-Forma Cap Rate 4.6%
Pro-Forma NOI $68,700
Price per SqFt $1,885
Broker Co-Op No
Class C
Year Built 1973
Year Renovated 2021
Buildings 1
Stories 1
Acreage 0.120
Zoning CS
Parking Spaces 6 spaces
Parking Per SqFt 7.57
Investment Type Owner/User
Tenant Credit No Credit Rating
Lease Commencement 03/01/2026
Occupancy Date 03/01/2026
Ground Lease No
Ownership Single
Sale Condition For sale by owner

Renter for 5 year term to a Bakery with redevelopment opportunity.

Marketing description

Step into a property with history and potential. This former gelato shop isn’t just a storefront, its location is top notch. Currently rented to a Bakery for a 5 year term, this amazing property has great cashflow and future redevelopment potential. Great land covered play.

What Makes This Space Stand Out?

  • Built for Success – rented to a high end bakery from Cannes, France, doors to open 2nd quarter of 2026.

  • High-Visibility Location – Strong foot traffic and great exposure, strong tenants on a solid lease.

  • Equity buildup and redevelopment potential – Collect rent, build equity and redevelop in the future as South 1st St. submarket is growing with many new high end mixed use and MF demand.

  • Priced to sell - A unique opportunity.

Retail ownership in a prime location is a rare find. Reach out today to learn more.

Investment highlights

1. Build Equity

  • rented to a high end bakery from Cannes, France, doors to open 2nd quarter of 2026.

  • 5 year lease term with rent escalations

2. Stable investment in top notch location

  • This investment works for you with great lease term and stable tenant.

3. Rental Income with redevelopment potential

  • South 1st St, redevelopment potential

  • Opportunity to build equity through time while getting great income and redevelop later.

Listing Contacts

TL
TX 9005423
REspace LLC
Respace LLC
Listed by REspace LLC, Respace LLC

Valuation Calculator

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$62,400.00
$5,200.00/mo

Valuation Metrics

0
DSCR
4.17%
Cap Rate
4.17%
ROI

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