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27821456
27821457

104 Northwest Dr, Round Rock, TX 78664 For Sale

McAllister and Associates
Listed by McAllister and Associates
$2,200,000
268 days on market
Updated 68 days ago

104-106 Northwest Drive

Details
Property Type Office
Sub Type Medical Office
Square Footage 6,481
Cap Rate 6.4%
NOI $140,691
Occupancy 100%
Tenancy Single
Brand/Tenant brightpath
Lease Type NNN
Lease Term 2
Rent Bumps Yes
Lease Options 2 5 year extensions
Price per SqFt $339
Class B
Year Built 1976
Buildings 2
Zoning C-1 Allows retail, office, etc.
Investment Type Net Lease
Sale Condition For sale by owner

Office | 6.40% CAP | 6,481 SqFt

Marketing description

This portfolio sits at 104–106 Northwest Dr, just west of the Downtown Round Rock Historic Commercial District (National Register, covering the 100–200 blocks of E. Main St). This puts the assets within a short walk of Main Street restaurants, boutiques, and Centennial Plaza—the city’s programmed event lawn and amphitheater. The downtown core hosts regular civic and cultural events (e.g., the Round Rock Arts Fest), keeping foot traffic and visibility high well beyond office hours.

A few minutes east sits Kalahari Resorts & Conventions, a regional destination with 975 guest rooms and 200,000 SF of flexible meeting space, plus a major indoor waterpark and family entertainment venues driving year-round visitation, corporate events, and hospitality spend. This complements downtown’s daily restaurant traffic and nightlife, bolstering service-oriented tenancy options at the subject site.

Access & mobility.

The properties benefit from quick connections to I-35 and US-79/Palm Valley Blvd, the city’s primary north-south and east-west corridors

Zoning & use flexibility.

Both buildings are marketed under C-1 (Commercial) allowances retail and office among permitted uses supporting straightforward re-tenanting across professional services, boutique retail, studio/academy, or medical/professional office concepts.

With tenants intending to remain on triple-net terms (tenants cover taxes/insurance/CAM), the portfolio targets low-touch ownership and durable cash flow. The downtown adjacency plus destination-grade demand drivers (Kalahari, ongoing downtown events) support long-term occupancy and exit flexibility—either hold as a two-building portfolio or future carve-out sales.

Investment highlights

6.4% cap rate with 3% rent rate escalations baked into the lease

Prime location within round rock within minutes from major regional draws and alongside major transportation routes

Listing Contacts

McAllister and Associates
Listed by McAllister and Associates

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$140,691.00
$11,724.25/mo

Valuation Metrics

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DSCR
6.4%
Cap Rate
6.4%
ROI

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