2708 Cesar Chavez, Austin, Texas

$3,499,990
Active
2708 Cesar Chavez, Austin, Texas
2708 Cesar Chavez, Austin, Texas
2708 Cesar Chavez, Austin, Texas
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Property Details

MLS ID: 6694677
Status: Active
Price: $3,499,990
Acres: 0.39±
Type: Business, Commercial
Address: 2708 Cesar Chavez
City, State: Austin, TX
County: Travis County
ZIP Code: 78702
Parcel Number: 02021105240000
Year Built: 2017

Description

This East Austin Michelin-recommended restaurant (name withheld for tenant privacy) 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 5.97%, 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

Directions: Cesar Chavez to 2708.

Justin Witt

Justin Witt

Capitol Ranch Real Estate, LLC

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Capitol Ranch Real Estate, LLC
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Listed By: Jeffrey Schnabel of Compass Re Texas, Llc - (512) 913-7480