The retail space in downtown Austin located at 117 W. Fourth St that was once occupied by The Spaghetti Warehouse Restaurant is about to have a new Tenant. Capital Grill, an national high-end franchise restaurant recently leased space here. They don’t have an opening date yet however their Tenant finish out has begun.
downtown austin retail space
Looking for Austin Retail Space but not sure if now’s the right time? Check out our video presentation on the Q2 Market Update for Austin Retail Space to see how the market is doing.
Now is the time to lease retail space in Austin TX. When comparing lease rates to this time last year, the rental rates decreased from $19.33 to $18.33, making it a tenant’s market.
Depending on the retail location, visibility, and type of retail average quoted base rental rates range from $15 to $35 SF throughout Austin. Operating expenses (taxes, insurance, maintenance, aka NNN) are averaging $6 to $10 SF. So when considering opening a retail shop a good rule of thumb would be to budget anywhere from $21 to $45 SF.
Austin Retail Space: Q2 Market Update