UPDATED:
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
Square Footage 3,543 sqft
Price per Sqft $982
Subdivision Division O
MLS Listing ID 6694677
Year Built 2017
Annual Tax Amount $43,549
Tax Year 2024
Lot Size 0.388 Acres
Acres 0.3878
Property Sub-Type Retail
Source actris
Property Description
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The group has an unprecedented 6 Michelin Awards, including a Michelin Star awarded in 2024, Bon Appetit - Hot Ten Best New Restaurants, Robb Report - 10 Best New Restaurants In America, Esquire Magazine's 40 Best New Restaurants In America, Austin American Statesman Best Austin Restaurants 2018, Michelin Bib Gourmand Award For Sustainability, and more.
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This award-winning East Austin restaurant is one of the Hospitality Group's 12 fine dining establishments. In particular, since opening in early 2023, it's earned a 2024 Michelin Guide Recommendation, Texas Monthly Best New Restaurants, New York Times' Best Restaurants In Austin Right Now, and Texas Monthly - Best Places To Drink Wine In Austin.
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Located in the Holly Street District, according to Time Out Magazine 2019, it's “one of the top 25 coolest neighborhoods in the world”. After a boom in food options and culinary creativity over the last decade, the area is known for an eclectic mix of local and international flavors and a diverse blend of casual eateries, trendy spots, cocktail bars, breweries, and hidden gems.
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Texas' business-friendly environment, lack of state corporate or income taxes, higher quality of life, and deep talent pool appeal to businesses considering moving to Austin. Job growth and company relocations continue to drive population growth ahead of any other major market in the country. Since 2010, Austin's population has outperformed the second-fastest-growing market, Raleigh, by more than 7.5%.
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5 years remaining on the initial lease term at a strong average cap rate of 5.97%, look forward to a 6.63% average cap rate during the first 7-year renewal period, and an even stronger 7.48% average cap rate in the second 7-year renewal term, subject to tenant renewal.
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Offering Memorandum upon request
Location
State TX
County Travis
Zoning CS-CO-MU-NP
Interior
Heating Central, Forced Air, Natural Gas
Cooling Central Air, Electric, Multi Units
Flooring Concrete
Fireplace No
Exterior
Utilities Available Electricity Connected, High Speed Internet, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
View None
Total Parking Spaces 28
Building
Story 1
Foundation Slab
Sewer Public Sewer
Water Public
Structure Type HardiPlank Type,Attic/Crawl Hatchway(s) Insulated,Spray Foam Insulation,Masonry – Partial,Aluminum Siding,Cement Siding,Wood Siding
New Construction No
Others
Special Listing Condition Standard
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