3321 Bee Cave Road
For Sale | Offering Memorandum
3321 Bee Cave Road Austin, TX 78746
Prepared By: DOUG RAULS Executive Vice President | Austin Direct +1 512 539 3006 Mobile +1 512 695 2314 [email protected]
3321 BEE CAVE ROAD | OFFERING MEMORANDUM
For Sale | Offering Memorandum
3321 Bee Cave Road Executive Summary Colliers International has been exclusively retained by the property owner to market 3321 Bee Cave Road to qualified buyers. 3321 Bee Cave is a 12,279 SF, three story office building located in the heart of West Lake Hills on Bee Cave Road just west of Walsh Tarlton Lane. The property offers spectacular views of downtown Austin. The entire 2nd floor (6,158 SF) is vacant for an owner/ user or new tenant. The 3rd floor is leased to a single tenant. Cell tower leases in place provide additional income. The property is ideal for an owner/user that needs about 6,000 SF.
Investment Highlights Outstanding Location The property is located on Bee Cave Road, just west of Walsh Tarlton. It is a very short walk to restaurants and retail options such as: Trianon Coffee, Starbucks, Tokyo Japanese, Lotus Chinese, My Fit Foods, Las Palomas, Jason’d Deli, Bank of America, FedEx/ Kinkos and others. The property is 1.4 miles west of Mopac Expressway, 3 miles to downtown Austin and 2 miles to the 360 / 2222 intersection offering easy access to all parts of Austin.
Austin Office Market The Austin office market is one of the strongest in the country with high occupancy levels. Austin’s unemployment rate of 3.5% is below the State of Texas unemployment rate of 4.5% and under the US unemployment rate of 4.8%. In the last year, several new high-profile relocations/expansions have been announced in the Austin area including: 1) Apple’s lease of an additional 217,000 square feet of space in SW Austin 2) Oracle’s announcement of a new 500,000 square foot campus in SE Austin and 3) Google’s lease of approximately 250,000 square feet in downtown Austin.
Property Highlights • Easy access to Mopac Expressway and greater Austin Metro Area • Walk to restaurants, coffee, retail
Price • Negotiable
Physical Description > TOTAL BUILDING AREA 12,279 SF
> OCCUPANCY 50% leased
> PROPERTY ADDRESS 3321 Bee Cave Road Austin, Texas 78746
> PARKING LOT Asphalt
> YEAR BUILT 1985 > NUMBER OF FLOORS Three story > PARKING 44 surface spaces | 3.5/1,000
> HVAC Individual units > ZONING LO > CITY In the City of Austin, on the border with West Lake Hills, TX
> TENANCY Multi- tenant
3321 BEE CAVE ROAD| EXECUTIVE SUMMARY
COLLIERS INTERNATIONAL
Survey 3321 BEE CAVE ROAD | EXECUTIVE SUMMARY
COLLIERS INTERNATIONAL
3321 BEE CAVE ROAD | OFFERING MEMORANDUM
Suite 200 - Floorplan
3321 Bee Cave Road – 2nd floor
Floorplan | Second Floor
COLLIERS INTERNATIONAL P. 5
3321 BEE CAVE ROAD | OFFERING MEMORANDUM
Suite 300 Floorplan
3321 Bee Cave Road – 3rd floor
Floorplan | Third Floor
COLLIERS INTERNATIONAL P. 6
LOCATION MAP
3321 BEE CAVE ROAD | OFFERING MEMORANDUM
COLLIERS INTERNATIONAL P. 7
Property Photos
3321 BEE CAVE ROAD | EXECUTIVE SUMMARY
COLLIERS INTERNATIONAL
Property Photos
3321 BEE CAVE ROAD | EXECUTIVE SUMMARY
COLLIERS INTERNATIONAL
Aerial View
3321 BEE CAVE ROAD | EXECUTIVE SUMMARY
COLLIERS INTERNATIONAL
Operating Expenses
3321 Bee Caves 2017 Estimated Operating Expenses
Property Tax Insurance Electric HVAC Repairs Janitorial Landscaping Pest Control Accounting Property Management Maintenance Staff Repairs and Maintenance Elevator Property Tax Protest Trash Water
$ $ $ $ $ $ $ $ $ $ $ $ $ $ $
Total Per Year 50,000 4,800 20,000 6,000 7,000 5,000 1,500 16,200 10,000 6,000 1,000 1,500 10,100
Estimated Yearly Operating Expenses
$
139,100
3321 BEE CAVE ROAD | OFFERING MEMORANDUM
Per Square Foot Notes $ 4.07 $ 0.39 $ 1.63 $ 0.49 $ 0.57 $ 0.41 $ 0.12 $ assumes owner self-performs $ assumes owner self-performs $ 1.32 $ 0.81 $ 0.49 $ 0.08 $ 0.12 $ 0.82 $
11.33
COLLIERS INTERNATIONAL P. 11
Colliers International Austin, LLC
9003290
[email protected]
(512)539-3000
Volney Campbell
364845
[email protected]
(512)539-3002
Marc Vanderslice
495430
[email protected]
(512)539-3001
Doug Rauls
462355
[email protected]
(512)539-3006
3321 BEE CAVE ROAD | OFFERING MEMORANDUM
COLLIERS INTERNATIONAL P. 13
Prepared By: DOUG RAULS Executive Vice President | Austin Direct +1 512 539 3006 Mobile +1 512 695 2314 [email protected]
3321 Bee Cave Road Austin, TX 78746
Prepared By: DOUG RAULS Executive Vice President | Austin Direct +1 512 539 3006 Mobile +1 512 695 2314 [email protected]
3321 BEE CAVE ROAD | OFFERING MEMORANDUM
For Sale | Offering Memorandum
3321 Bee Cave Road Executive Summary Colliers International has been exclusively retained by the property owner to market 3321 Bee Cave Road to qualified buyers. 3321 Bee Cave is a 12,279 SF, three story office building located in the heart of West Lake Hills on Bee Cave Road just west of Walsh Tarlton Lane. The property offers spectacular views of downtown Austin. The entire 2nd floor (6,158 SF) is vacant for an owner/ user or new tenant. The 3rd floor is leased to a single tenant. Cell tower leases in place provide additional income. The property is ideal for an owner/user that needs about 6,000 SF.
Investment Highlights Outstanding Location The property is located on Bee Cave Road, just west of Walsh Tarlton. It is a very short walk to restaurants and retail options such as: Trianon Coffee, Starbucks, Tokyo Japanese, Lotus Chinese, My Fit Foods, Las Palomas, Jason’d Deli, Bank of America, FedEx/ Kinkos and others. The property is 1.4 miles west of Mopac Expressway, 3 miles to downtown Austin and 2 miles to the 360 / 2222 intersection offering easy access to all parts of Austin.
Austin Office Market The Austin office market is one of the strongest in the country with high occupancy levels. Austin’s unemployment rate of 3.5% is below the State of Texas unemployment rate of 4.5% and under the US unemployment rate of 4.8%. In the last year, several new high-profile relocations/expansions have been announced in the Austin area including: 1) Apple’s lease of an additional 217,000 square feet of space in SW Austin 2) Oracle’s announcement of a new 500,000 square foot campus in SE Austin and 3) Google’s lease of approximately 250,000 square feet in downtown Austin.
Property Highlights • Easy access to Mopac Expressway and greater Austin Metro Area • Walk to restaurants, coffee, retail
Price • Negotiable
Physical Description > TOTAL BUILDING AREA 12,279 SF
> OCCUPANCY 50% leased
> PROPERTY ADDRESS 3321 Bee Cave Road Austin, Texas 78746
> PARKING LOT Asphalt
> YEAR BUILT 1985 > NUMBER OF FLOORS Three story > PARKING 44 surface spaces | 3.5/1,000
> HVAC Individual units > ZONING LO > CITY In the City of Austin, on the border with West Lake Hills, TX
> TENANCY Multi- tenant
3321 BEE CAVE ROAD| EXECUTIVE SUMMARY
COLLIERS INTERNATIONAL
Survey 3321 BEE CAVE ROAD | EXECUTIVE SUMMARY
COLLIERS INTERNATIONAL
3321 BEE CAVE ROAD | OFFERING MEMORANDUM
Suite 200 - Floorplan
3321 Bee Cave Road – 2nd floor
Floorplan | Second Floor
COLLIERS INTERNATIONAL P. 5
3321 BEE CAVE ROAD | OFFERING MEMORANDUM
Suite 300 Floorplan
3321 Bee Cave Road – 3rd floor
Floorplan | Third Floor
COLLIERS INTERNATIONAL P. 6
LOCATION MAP
3321 BEE CAVE ROAD | OFFERING MEMORANDUM
COLLIERS INTERNATIONAL P. 7
Property Photos
3321 BEE CAVE ROAD | EXECUTIVE SUMMARY
COLLIERS INTERNATIONAL
Property Photos
3321 BEE CAVE ROAD | EXECUTIVE SUMMARY
COLLIERS INTERNATIONAL
Aerial View
3321 BEE CAVE ROAD | EXECUTIVE SUMMARY
COLLIERS INTERNATIONAL
Operating Expenses
3321 Bee Caves 2017 Estimated Operating Expenses
Property Tax Insurance Electric HVAC Repairs Janitorial Landscaping Pest Control Accounting Property Management Maintenance Staff Repairs and Maintenance Elevator Property Tax Protest Trash Water
$ $ $ $ $ $ $ $ $ $ $ $ $ $ $
Total Per Year 50,000 4,800 20,000 6,000 7,000 5,000 1,500 16,200 10,000 6,000 1,000 1,500 10,100
Estimated Yearly Operating Expenses
$
139,100
3321 BEE CAVE ROAD | OFFERING MEMORANDUM
Per Square Foot Notes $ 4.07 $ 0.39 $ 1.63 $ 0.49 $ 0.57 $ 0.41 $ 0.12 $ assumes owner self-performs $ assumes owner self-performs $ 1.32 $ 0.81 $ 0.49 $ 0.08 $ 0.12 $ 0.82 $
11.33
COLLIERS INTERNATIONAL P. 11
Colliers International Austin, LLC
9003290
[email protected]
(512)539-3000
Volney Campbell
364845
[email protected]
(512)539-3002
Marc Vanderslice
495430
[email protected]
(512)539-3001
Doug Rauls
462355
[email protected]
(512)539-3006
3321 BEE CAVE ROAD | OFFERING MEMORANDUM
COLLIERS INTERNATIONAL P. 13
Prepared By: DOUG RAULS Executive Vice President | Austin Direct +1 512 539 3006 Mobile +1 512 695 2314 [email protected]
