8940 Research Boulevard
Austin, Texas
 

FOR SALE

Asking Price     $2,850,000.00

Conveniently located on the south side access road of Highway 183 in Austin, between Burnet Road and Lamar Boulevard, is our building at 8940 Research Boulevard.

Fifty percent of the building is occupied by a NYSE company, twenty percent houses the administrative offices of a regional newspaper publication, while the other thirty percent houses a high-tech company.  Cort Furniture Rental as well as The Greensheet have triple-net leases (NNN) with approximately 5+ years remaining on each lease.  COREMETRICS, a computer based organization has leased their suite on a short-term basis through August of 2004 under market rate ($5.50 NNN), with the likelihood of releasing the space upon expiration of the lease.

With a great locale, plenty of building signage available, a brand new Dover elevator, and well maintained common areas and building grounds, 8940 Research Boulevard is an excellent purchase opportunity for an owner/user or for an investor looking to purchase commercial property before the Austin market improves.  The building has an assumable debt with Bank of America, $2,065,000.00, for a ten-year term, 30-year amortization, and no recourse.  The annual debt on the building is $195,216.00, which includes $4,000.00 in replacement reserves.