1707 Fortview Rd
OVERVIEW
The property currently consists of a 6,500 SF office/medical building on 0.61 acres of land. Zoned GR-MU enables the ability to develop a five-story 25,000 square foot mixed-use of retail, office, or residential space.
FEATURES
- Strong Cash Flow
- Recession-Proof Tenant
- Redevelopment Potential
- Medical/Office Use
- Located in 78704
PROPERTY
Property Type
Office
Sub-Type
Medical
RBA (sf)
6500
Floors
2
Year Built
2000
Tenancy
Single
Class
C
Construction
Masonry
Parking Type
Surface
Land Area (ac)
0.61
Zoning
GR-MU
DETAILS
Located inside the loop in Austin’s prized 78704 zip code & South Lamar neighborhood, 1707 Fortview is a rare single-tenant long term NNN investment opportunity.
The current tenant, Texas Health and Science University (THSU), was founded as the Texas Institute of Traditional Medicine in 1990. With two locations in Austin, this is their clinic and pharmacy division that has operated here since 2006. THSU is responsible for maintenance and upkeep, and the lease has 4 years remaining with two 5 year option extensions.
The property currently consists of a 6,500 SF office/medical building on 0.61 acres of land. Zoned GR-MU enables the ability to develop a five-story 25,000 square foot mixed-use of retail, office, or residential space.
Sale Type
Investment
Price
$3,950,000
Cap Rate
5.5
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