Hill Country Mixed-Use
11151 State Highway 71, Spicewood, TX 78669
COMMERCIAL - Spicewood, TX
Property size:
4,605 SFLot size:
2.50 AcresPrice / SF:
$302/SF- Added:
- Mar 28, 2026
- Days on Market:
- 93
- Last Refresh:
- Jun 28 at 2:06 am
Property Features for 11151 State Highway 71
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- Mixed
- Bedrooms
- 5
- Bathrooms
- 5
- Rooms
- Bedroom 5, Bathroom 3, Bedroom 3, Bathroom 4, Bathroom 2, Bedroom 2, Bedroom 4, Bedroom 1, 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, Propane (Heating), Electric (Heating)
- Cooling system
- Central Air
- Water source
- Well
Building Details
- Year built
- 1984
- Floors in Building
- 2
- Number of units
- 3
- Flooring type
- Tile, Hardwood, Vinyl
- Building materials
- HardiPlank Type, Stone
- Roof type
- Composition
Listing agent Stacy Hallmark License #0692151 (512) 750-9737
Listing office HALLMARK LUXURY REAL ESTATE 19304 INVERNESS DR, SPICEWOOD, TX (512) 750-9737
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
- Privately gated, fully fenced 2.5‑acre Hill Country compound in Spicewood with panoramic views
- Rebuilt from the studs in 2025: 3 separate units with mixed‑use flexibility (owner‑user, live/work, office, or rentals)
- Unit sizes: approx. 1,784 SF main residence; approx. 1,440 SF second unit; approx. 1,381 SF third unit above the garage
- Each unit has its own layout and outdoor space, with modern farmhouse finishes incl. quartz countertops and custom cabinetry
- New appliances and new HVAC; energy‑efficient windows and upgraded insulation; flooring includes hardwood, tile, and vinyl
- Well water and septic tank; no HOA; short‑term rentals allowed (Airbnb/VRBO); mixed zoning allows residential and commercial use
Overview
Set behind a private gate and fully fenced on a 2.5-acre Hill Country compound, this 2025 rebuild offers three turnkey units designed for mixed-use flexibility. Each unit has its own layout and outdoor space, finished with modern farmhouse upgrades including quartz countertops, custom cabinetry, new appliances, luxury vinyl plank flooring, energy-efficient windows, upgraded insulation, and new HVAC systems. The main residence is approximately 1,784 SF with a private deck overlooking the courtyard, with living or office use options based on layout. The second unit is approximately 1,440 SF and includes additional workspace potential plus private outdoor areas. The third unit, approximately 1,381 SF above the garage, provides open-concept flexibility and elevated Hill Country views.
Access is via a long private drive with ample parking, supported by a two-car garage and a detached carport. Mixed zoning supports both residential and commercial uses. The property is just off Highway 71, with easy access to Bee Cave, Marble Falls, and Lake Travis. The remarks also note no HOA and a low tax rate, with short-term rentals allowed, including Airbnb and VRBO.
This property is well suited for an owner-user seeking on-site space with multiple unit configurations, or for an operator looking to run a combination of residential, boutique office, and permitted short-term rental uses under the mixed zoning framework.
Access is via a long private drive with ample parking, supported by a two-car garage and a detached carport. Mixed zoning supports both residential and commercial uses. The property is just off Highway 71, with easy access to Bee Cave, Marble Falls, and Lake Travis. The remarks also note no HOA and a low tax rate, with short-term rentals allowed, including Airbnb and VRBO.
This property is well suited for an owner-user seeking on-site space with multiple unit configurations, or for an operator looking to run a combination of residential, boutique office, and permitted short-term rental uses under the mixed zoning framework.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $193.4k | $42.00 |
| − Vacancy | −$47.0k | −$10.21 |
| EGI | $146.4k | $31.79 |
| − OpEx | −$36.6k | −$7.95 |
| NOI | $109.8k | $23.85 |
4,605 SF · lease $42.00/SF/yr · vacancy 24.30% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.57M
$1.37M – $1.83M
NOI $109,809 @ 7.0% cap · market cap 7.87%
Second Best
Apartment 5plus
$1.01M
$882.4K – $1.18M
NOI $70,591 @ 7.0% cap · market cap 5.06%
Theoretical Best
Office A
$1.92M
$1.68M – $2.25M
NOI $134,750 @ 7.0% cap · market cap 9.66%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Office Units
Map
- City
- Spicewood
- County
- Travis
- State
- Texas
- Longitude
- -98.148612
- Latitude
- 30.4418955
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Privately gated compound with three rebuilt units and flexible residential or commercial use near Highway 71.
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: Privately gated, fully fenced 2.5‑acre Hill Country compound in Spicewood with panoramic views; Rebuilt from the studs in 2025: 3 separate units with mixed‑use flexibility (owner‑user, live/work, office, or rentals); Unit sizes: approx. 1,784 SF main residence; approx. 1,440 SF second unit; approx. 1,381 SF third unit above the garage
