2708 E Cesar Chavez ST Active

Austin,TX 78702

$ 3720000

0 Bed

0 Bath

3543 SqFt


Key Details

Property Type Commercial

Sub Type Retail

Listing Status Active

Purchase Type For Sale

Square Footage 3,543 sqft

Price per Sqft $1,049

Subdivision Division O

MLS Listing ID 6694677

Originating Board actris

Year Built 2017

Annual Tax Amount $43,549

Tax Year 2024

Lot Size 0.388 Acres

Property Description

The restaurant name was withheld for tenant privacy, but this East Austin Michelin-recommended restaurant is within Austin's pre-eminent hospitality group with accolades almost too numerous to mention.
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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 5.61%, look forward to a 6.23% average cap rate during the first 7-year renewal period, and an even stronger 7.04% cap rate in the second 7-year renewal term, subject to tenant renewal.

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 N

Exterior

Utilities Available Electricity Connected,High Speed Internet,Natural Gas Connected,Phone Available,Sewer Connected,Water Connected

View None

Accessibility Accessible Approach with Ramp,Common Area,Accessible Doors,Accessible Entrance,FullyAccessible,Grip-Accessible Features,Accessible Hallway(s)

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

Restrictions Zoning

Acceptable Financing Cash,Committed Money,Conventional

Tax Rate 1.9818

Listing Terms Cash,Committed Money,Conventional

Special Listing Condition Standard

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