Ozone Bike Department is a cool place next to Thundercloud subs where we bought my girlfriend her first "expensive" bike. They have a great selection and their prices are about average for a bike store. Thankfully, the staff in the store do not work on commission so they have no real incentive to make you buy crap you don't need. We got a great deal on a great bike for my girlfriend. We spent under $500 for a bike, a helmet, and a great buying experience. Lastly, they carry some very vintage looking bikes that I see tons of people around Austin riding. Check them out for any of your biking needs.