Willa Retail and Office
24,308 SF | 100% Leased | 4-Star Retail Building | Austin, TX 78704 | For Sale
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
- Property Type
-
Retail
- Square Feet
- 24,308 SF
Listing Contacts
Doug Rauls
Verified Profile
Doug Jones
Verified Profile
Chris Boyd
Verified Profile
- Property Info
Property Overview
Colliers is pleased to exclusively offer qualified investors the exceptional opportunity to acquire the entire 1st floor of the prestigious Willa project, encompassing 24,354 square feet of premium retail and office units. Nestled in the heart of South-Central Austin’s vibrant Bouldin Creek neighborhood, Willa is ideally positioned at 1600 S 1st St., providing unparalleled access to stabilized retail and mixed-use returns with predictable cash flow and significant upside potential.
This prime infill development is strategically located along the primary corridor of South 1st Street, within the highly coveted 78704 zip code. Willa is just under one mile south of downtown Austin and a mere half-mile from the bustling South Congress Avenue shopping district, making it a prime destination for both businesses and consumers alike. The dynamic, highly walkable, and bike-friendly environment seamlessly integrates 59 luxurious condo residences with 24,354 square feet of vibrant ground-floor commercial space, centered around an inviting open-air and pedestrian-friendly plaza.
The property at 1600 S 1st St. boasts a 93% occupancy rate, leased to high-quality tenants with a weighted average remaining lease term of 6.2 years. In addition to the long-term, staggered rollover leases, Willa offers substantial parking income to enhance NOI through its 202 underground parking spaces, including six ADA spaces.
This lender-owned property presents a unique investment opportunity with aggressive seller financing available to qualified buyers. The supply of new, stabilized commercial retail properties in South Austin is extremely limited, making the South First corridor one of the most sought-after locations with scarce inventory. Opportunities like this are extraordinarily rare.
The amenity-rich enclave of South Austin is renowned for hosting some of the city’s most popular shops and restaurants, further solidifying Willa as a prime investment opportunity. Secure your place in one of Austin’s most desirable commercial developments today.
This prime infill development is strategically located along the primary corridor of South 1st Street, within the highly coveted 78704 zip code. Willa is just under one mile south of downtown Austin and a mere half-mile from the bustling South Congress Avenue shopping district, making it a prime destination for both businesses and consumers alike. The dynamic, highly walkable, and bike-friendly environment seamlessly integrates 59 luxurious condo residences with 24,354 square feet of vibrant ground-floor commercial space, centered around an inviting open-air and pedestrian-friendly plaza.
The property at 1600 S 1st St. boasts a 93% occupancy rate, leased to high-quality tenants with a weighted average remaining lease term of 6.2 years. In addition to the long-term, staggered rollover leases, Willa offers substantial parking income to enhance NOI through its 202 underground parking spaces, including six ADA spaces.
This lender-owned property presents a unique investment opportunity with aggressive seller financing available to qualified buyers. The supply of new, stabilized commercial retail properties in South Austin is extremely limited, making the South First corridor one of the most sought-after locations with scarce inventory. Opportunities like this are extraordinarily rare.
The amenity-rich enclave of South Austin is renowned for hosting some of the city’s most popular shops and restaurants, further solidifying Willa as a prime investment opportunity. Secure your place in one of Austin’s most desirable commercial developments today.
Property Details
- Class
- B
- Year Built
- 2020
- Stories
- 1
- Property Subtype
- Storefront Retail/Office
- Lot Size (sq. ft)
- 62,726 SF
Highlights
- Located in the heart of South-Central Austin's Bouldin Creek neighborhood.
- Less than one mile from downtown Austin and Lady Bird Lake.
- Multi-Tenant office building with 93% occupancy.
- Stabilized with Contractual annual rental rate increase.
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