Active

2708 E Cesar Chavez ST

Austin TX, 78702

$3,720,000


$1,049.96 per sqft

Active

3,543 sqft

Commercial

Built in 2017

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.

6694677

MLS ID

December 9, 2024

Listed

December 20, 2024

Updated

Map

2708 E Cesar Chavez ST
Austin TX, 78702

Interior Features

Total Stories

1


Floor Description

Concrete


Fireplace

No


Cooling

Yes


Cooling Description

Central Air, Electric, Multi Units


Heating

Yes


Heating Description

Central, Forced Air, Natural Gas

Exterior/Building Features

Lot Size

0.39 Acres


Sewer

Public Sewer

Other Property Details

Area Name

5


Taxes

$43,549


Tax Frequency

Annually


Garage

No


Parking

Additional Parking, Alley Access, Asphalt, Assigned, Deeded, Driveway, Off Street, Oversized, Parking Lot, Paved


View

No


View Description

None


County

Travis


Water Source

Public


Pool

No

Courtesy of Compass RE Texas, LLC

Listing Contact: 737-843-4300

Disclaimer: All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change, or withdrawal. Neither listing broker(s) nor Corey Hendrix shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Austin/Central Texas Realty Information Service.

Listings courtesy of ACTRIS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of ©2024 (date and time MLS GRID Data was obtained). All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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Database last updated 9:18 PM UTC, 12/20/2024

 

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