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Round Rock Independent School District Acquires Office Building From LegalZoom In Austin For $37.75M
SOLD
$37,750,000
Texas
See Similar DealsOffice206,000 SF
Sold 04/09/2025
SOLD
Round Rock Independent School District Acquires Office Building From LegalZoom In Austin For $37.75M
9900 Spectrum Drive
See Similar DealsOffice206,000 SF
Sold 04/09/2025
Summary
TEXAS
Asset Type:Office
Price Per Square Foot:$183
Total Square Footage:206,000 SF
Transaction Type:Sale
A 206,000-square-foot office building located at 9900 Spectrum Drive in Austin was sold for $37.75 million. The transaction was carried out by Jeffrey Stibel, representing LegalZoom, to the Round Rock Independent School District as the buyer. The price per square foot was $183, with the district intending to convert the property into a center for career and technical education after LegalZoom vacates the site.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $37,750,000
- Address: 9900 Spectrum Drive
- Market: Austin
- Asset Size: 206,000 SF
- Price per Square Foot: $183
- Buyer: Round Rock Independent School District
- Seller: Jeffrey Stibel - LegalZoom
This transaction featured notable individuals such as Jeffrey Stibel, who represented the seller, LegalZoom. The Round Rock Independent School District was the buyer and is looking forward to repurposing the office space for educational use, focusing on career and technical education programs.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,013,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$134,117.79
Cash-on-Cash Return-1.27%
Monthly Debt Service$178,954.26
Annual Debt Service$2,147,451.11
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