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    Spicewood Mixed-Use Income Property Title is generated by Realmo AI

    11151 State Highway 71, Spicewood, TX 78669

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    Claim this Listing
    For Sale
    $1,395,000

    COMMERCIAL - Spicewood, TX

    Property size:
    4,605 SF
    Lot size:
    2.50 Acres
    Price / SF:
    $302/SF
    Added:
    Mar 28, 2026
    Days on Market:
    47
    Last Refresh:
    May 13 at 9:06 am

    Property Features for 11151 State Highway 71

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Mixed
    Bedrooms
    5
    Bathrooms
    5
    Rooms
    Bathroom 2, Bedroom 4, Bedroom 5, Bathroom 3, Bedroom 1, Bedroom 3, Bedroom 2, Bathroom 4, Bathroom 5, Bathroom 1
    Parking
    15
    Appliances
    Dishwasher, Dryer, Disposal, Microwave, Electric Range, Refrigerator, Washer, Washer Hookup, Electric Water Heater
    Standard status
    Active
    APN
    060586
    Size
    4,605 SF
    Lot size
    2.50 Acres

    Taxes and HOA fees

    Tax Description
    ABS A1868 H. NAUMANN, 2.5 ACRES

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Central, Electric (Heating), Propane (Heating)
    Cooling system
    Central Air
    Water source
    Well

    Building Details

    Year built
    1984
    Floors in Building
    2
    Number of units
    3
    Flooring type
    Hardwood, Vinyl, Tile
    Building materials
    HardiPlank Type, Stone
    Roof type
    Composition

    We can help!

    Listing Contact
    Stacy Hallmark
    Stacy Hallmark

    Listing agent Stacy Hallmark License #0692151

    Listing office HALLMARK LUXURY REAL ESTATE 19304 INVERNESS DR, SPICEWOOD, TX

    Listing date Mar 28, 2026

    MLS# 177229

    Copyright © 2026 Highland Lakes Association of Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Rare 2.5‑acre gated Hill Country compound with three rebuilt units (2025).
    • Mixed‑use zoning allows for residential, commercial, and short‑term rental (Airbnb/VRBO) income.
    • Turnkey property with high‑end modern farmhouse finishes and new appliances.
    • Panoramic Hill Country views from multiple units.
    • No HOA, low tax rate, and convenient location near Highway 71, Bee Cave, Marble Falls, and Lake Travis.
    • Multiple units offer flexible layouts and private outdoor spaces.

    Overview

    This privately gated and fully fenced 2.5-acre Hill Country compound in Spicewood features three rebuilt units, offering mixed-use flexibility suitable for owner-users, live/work arrangements, short-term rental income, boutique offices, or investment purposes. The property combines privacy, panoramic views, and income potential. Each unit has its own layout and outdoor space, showcasing high-end modern farmhouse finishes such as quartz countertops, custom cabinetry, new appliances, luxury vinyl plank flooring, energy-efficient windows, upgraded insulation, and new HVAC systems. Rebuilt from the studs in 2025, the property is turnkey and designed for versatility. The main residence provides approximately 1,784 square feet of flexible living or office space and a private deck overlooking the courtyard. The second unit spans approximately 1,440 square feet, offering additional workspace potential and private outdoor areas. The third unit, approximately 1,381 square feet above the garage, captures elevated Hill Country views with open-concept flexibility. A long private drive provides ample parking, along with a two-car garage and detached carport. Mixed zoning allows both residential and commercial use, creating an opportunity for multiple income streams. The property is conveniently located just off Highway 71, providing easy access to Bee Cave, Marble Falls, and Lake Travis. Short-term rentals are allowed, including Airbnb and VRBO. The total property size is 4,605 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office Units

    Map

    City
    Spicewood
    County
    Travis
    State
    Texas
    Longitude
    -98.0483
    Latitude
    30.3864

    Nearby Similar for Sale

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    • $10,000,000

      Luxury Spanish-Style Estate in Spicewood

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    FAQs

    What type of property is this?
    Mixed-use property - Rare 2.5-acre Hill Country compound with mixed-use flexibility.
    Where is this mixed-use property located?
    The property is located at 11151 State Highway 71 Spicewood, TX.
    What is the asking price?
    The asking price for this property is $1,395,000.
    What are key features of this property?
    This property features: Rare 2.5‑acre gated Hill Country compound with three rebuilt units (2025).; Mixed‑use zoning allows for residential, commercial, and short‑term rental (Airbnb/VRBO) income.; Turnkey property with high‑end modern farmhouse finishes and new appliances.
    (512) 750-9737
    We can help!
    Listing Contact
    Stacy Hallmark
    Stacy Hallmark
    Real Estate License ID: 0692151
    Learn More
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    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
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