Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Residential Lot in Georgetown, TX Title is generated by Realmo AI

    204 E Central Drive lot 1, Georgetown, TX 78628

    View on Map
    Claim this Listing
    For Sale
    $185,000

    LAND - Georgetown, TX

    Lot size:
    0.33 Acres
    Added:
    Jan 15, 2026
    Days on Market:
    134
    Last Refresh:
    May 29 at 9:06 pm

    Property Features for 204 E Central Drive lot 1

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    R048414
    Lot size
    0.33 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    WILLIAMS ADDITION UNIT 2, BLOCK 7, LOT 1
    Tax Annual Amount
    1490

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Elizabeth T. Sullivan

    Listing agent Elizabeth T. Sullivan License #0557721

    Listing office Keller Williams Realty Lone St 1003 S Austin Ave. Avis Wukasch, Georgetown, TX

    Listing date Jan 15, 2026

    MLS# 602287 Listing URL

    Copyright © 2026 Central Texas Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Oversized lot in Georgetown.
    • Prime location near I‑35, shopping, restaurants, and medical services.
    • Close proximity to Downtown and the airport.
    • Public water source available.
    • Public sewer available.
    • Blank slate to build a custom home.

    Overview

    This oversized residential lot is located in Georgetown, Texas, just north of Williams on the west side of I-35. The property, situated in the City of Georgetown, offers convenient access to shopping, restaurants, medical services, the theater, downtown, and the airport. The lot spans 0.3319 acres and presents a blank slate for building.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Georgetown
    County
    Williamson
    State
    Texas
    Longitude
    -97.681938
    Latitude
    30.657806

    Nearby Similar for Sale

    • $345,000
      958 SF

      Georgetown Office with Excellent Floorplan

      Office space featuring a functional layout and proximity to development.
      5373 Williams Drive, Georgetown, TX 78633
      View Details
    • $3,920,400
      2,232 SF

      Georgetown Land with Equestrian Facilities

      30-acre property with barns, riding arena, and pasture.
      1250 County Road 141, Georgetown, TX 78626
      View Details
    • $300,000
      320 SF

      Georgetown Land Opportunity

      2.4 acres in rapidly growing East Georgetown area.
      122 County Road 106, Georgetown, TX 78626
      View Details
    • $449,900
      1,261 SF

      Georgetown Office Condo Investment Opportunity

      New office condo with tenant, 7% cap rate, minimal management.
      4869 Williams Dr #105, Georgetown, TX 78633
      View Details
    • $345,000

      Georgetown Commercial Office For Sale

      Office space in great condition near upcoming mixed-use development.
      5373 Williams Drive, Georgetown, TX 78633
      View Details
    • $950,000
      4,800 SF

      Georgetown Commercial Property For Sale

      Commercial property with high visibility and flexible use options.
      40120A Industrial Park Cir, Georgetown, TX 78626
      View Details
    • $299,000

      Georgetown Commercial Land For Sale

      3.12 acres in Williamson County with development potential.
      562 County Road 154, Georgetown, TX 78626
      View Details
    • $2,587,000
      981,406 SF

      22-Acre Development Site in Georgetown

      Flexible 22-acre development site in Georgetown ETJ.
      1050 County Road 141, Georgetown, TX 78626
      View Details
    • $299,000

      Georgetown Land with Approved Plans

      3.12 acres with flex-space warehouse development plan.
      562 County Road 154 lot: 1, Georgetown, TX 78626
      View Details
    • $649,900

      Georgetown Land Near IH-35

      2.66 acres near IH-35 and Ronald Reagan extension.
      Fm-1105, Georgetown, TX 78626
      View Details
    • $2,500,000

      Unrestricted Land in Georgetown, TX

      48-acre unrestricted land with frontage on FM 1105 and CR 388.
      7531 FM 1105, Georgetown, TX 78626
      View Details
    • $325,000

      3.12 Acres in Williamson County

      Land with active water meter and approved flex-space warehouse plan.
      562 County Road 154, Georgetown, TX 78626
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Oversized lot in Georgetown near shopping, restaurants, and downtown.
    Where is this residential land & home lot located?
    The property is located at 204 E Central Drive lot 1 Georgetown, TX.
    What is the asking price?
    The asking price for this property is $185,000.
    What are key features of this property?
    This property features: Oversized lot in Georgetown.; Prime location near I‑35, shopping, restaurants, and medical services.; Close proximity to Downtown and the airport.
    (512) 569-7272
    We can help!
    Listing Contact
    Elizabeth T. Sullivan
    Real Estate License ID: 0557721
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    204 E Central Drive lot: 1, Georgetown, TX 78628
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!