New Flex Space with Roll-Up
For Sale
$575,000
100b-451 Farrell Rd, Dripping Springs, TX 78620
Newly constructed flex space with a grade-level roll-up door, secure gated setting, and 200-amp electrical service.
Property Size1,750 SF
Price / SF$328.57
Days on Market73
Property Features for 100b-451 Farrell Rd
General Information
Standard status
Active
Size
1,750 SF
Warehouse & Industrial
Drive-In Doors
1
Heavy Power
Yes
Listing Agency:
Stanberry REALTORS
(512) 894-3488
Listed By:
Scott Daves · License #0470497
(512) 415-2265
Source:
Exprealty
Added: Jun 24
Changed: Aug 28
Last Checked: Sep 2 at 2:20AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Stanberry REALTORS
Investment Insights
Based on property information with market context.
Newly constructed flex space designed for versatile use, offering approximately 1,750 square feet of ground-floor area plus an 800-square-foot mezzanine. The layout is supported by a 12’ x 14’ grade-level roll-up door for convenient loading and day-to-day operations. Electrical service is provided at 200 amps, with the ability to upgrade to 400 amps to support future growth.
Set within a secure gated development, the property is positioned between Dripping Springs and Henly, with convenient access to Austin, Johnson City, Blanco, and surrounding Hill Country communities.
This is a practical owner-user and investor-friendly configuration for users needing a mix of office or operational space and storage or work-area flexibility within a controlled-access environment.
Set within a secure gated development, the property is positioned between Dripping Springs and Henly, with convenient access to Austin, Johnson City, Blanco, and surrounding Hill Country communities.
This is a practical owner-user and investor-friendly configuration for users needing a mix of office or operational space and storage or work-area flexibility within a controlled-access environment.
Key Highlights
- Newly constructed flex space offering approx. 1,750 SF of ground‑floor space plus an 800 SF mezzanine
- Grade‑level 12’ x 14’ roll‑up door for efficient access and workflow
- Secure gated development
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,619
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.06%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$352,380
$352.4K
Cap Rate 7%
$251,700
$251.7K
Cap Rate 9%
$195,767
$195.8K
Market Conditions
NOI Build-Up for 1,750 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$26.0K $14.88/SF
− Vacancy
−$5.3K −$3.04/SF
EGI
$20.7K $11.84/SF
− OpEx
−$3.1K −$1.78/SF
NOI
$17.6K $10.07/SF
Area
Hays County, TX
Vacancy
20.40%
Lease Rate
$14.88 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$352,380
Cap Rate 7%
$251,700
Cap Rate 9%
$195,767
Alternative Uses
Best Use
Warehouse
$251.7K
$220.2K – $293.7K
NOI $17,619 @ 7.0% cap · market cap 3.06%
Second Best
Industrial
$223.7K
$195.7K – $261.0K
NOI $15,658 @ 7.0% cap · market cap 2.72%
Theoretical Best
Office A
$731.5K
$640.1K – $853.5K
NOI $51,208 @ 7.0% cap · market cap 8.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Drive-in doors
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
60
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78620, TX
20,493
Population
7,929
Households
2.6
Avg Household Size
43
Median Age
62%
College-Educated
97%
High-School Grad
175.6 sq mi
ZIP Area
117
Density / Sq Mi
$146,551
Median Household Income
$58,583
Median Earnings
$1,674
Median Rent
$624,800
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Newly constructed flex space with a grade-level roll-up door, secure gated setting, and 200-amp electrical service.
Where is this flex space located?
The property is located at 100b-451 Farrell Rd Dripping Springs, TX.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Newly constructed flex space offering approx. 1,750 SF of ground‑floor space plus an 800 SF mezzanine; Grade‑level 12’ x 14’ roll‑up door for efficient access and workflow; Secure gated development
