Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    602 Old Fitzhugh Rd, Unit B Dripping Springs, TX 78620

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $1,950 /Mo

    Charming office space in historical Dripping Springs available for rent.

    Lot size:
    0.54 Acres

    Property Features for 602 Old Fitzhugh Rd

    General Information

    Lot size
    0.54 Acres

    Building Details

    Year built
    1950

    We can help!

    Listing Contact
    Andy Hunt
    Source: Elliman

    Listing Agent: Andy Hunt

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Historical Office Space in Dripping

    Located in the heart of Dripping Springs, this charming historical house offers an office space for rent. Situated on a half-acre lot with large oak trees, the property has frontage on Ranch Road 12 and Old Fitzhugh Road, providing easy access from both sides. The available suite is approximately 540 square feet and includes a shared kitchen, separate entrance, and private full bathroom. Old Fitzhugh Road is located in a historical district. Major infrastructure improvements are slated to begin in 2025, including a new road, sidewalk and lighting for pedestrian access, as well as street parking, similar to Mercer Street in downtown Dripping Springs. The property is suitable for a professional office setting or light medical/med-spa. City water and sewer services are provided, along with PEC electric.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Wholesale Shop Auto Repair Shop Dental Office Spa & Massage Hair Salon Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Dripping Springs
    County
    Hays
    State
    Texas
    Longitude
    -98.0873297
    Latitude
    30.1990068

    Nearby Similar for Lease

    • $8,500 /Mo

      Versatile Commercial Space for Rent

      Adaptable space ideal for various business operations in growing area.
      2554 W Us 290 Hwy, Dripping Springs, TX 78620
      View Details
    • Contact for pricing
      7,200 SF

      Prime Hays County Flex Space

      7,200 SF Flex Warehouse - Hwy 290 Access
      4955 Bell Spg Rd, Dripping Springs, TX 78620
      View Details
    • $26 SF/Yr
      4,397 SF

      Dripping Springs Executive Office Space

      Modern Office, 4,397 SF Available
      721 Highway 290, Dripping Springs, TX 78620
      View Details
    • $13 SF/Yr
      6,256 SF

      New Hays County Warehouse

      6,256 SF Shell Warehouse, 7.16 Acres
      22601 Ranch Road 12, Dripping Springs, TX 78620
      View Details
    • Contact for pricing
      8,000 SF

      Dripping Springs Retail Opportunity

      Retail space available in growing Dripping Springs community.
      1055 Kibo Rdg Dr, Dripping Springs, TX
      View Details
    • $39 SF/Yr
      2,000 SF

      Texas Hill Country Gem: Lease

      Historic Filling Station, Creative Office Space
      7080 Us-290, Dripping Springs, TX 78620
      View Details
    • Contact for pricing
      14,000 SF

      Glosson Ranch Road Warehouse

      14,000 SF Warehouse, Hwy 290 Visibility
      133 Glosson Ranch Rd, Dripping Springs, TX 78620
      View Details
    • Contact for pricing
      6,136 SF

      Sawyer Ranch Medical Office Suites

      Dripping Springs medical office space available.
      13830 Sawyer Ranch Rd, Dripping Springs, TX 78620
      View Details
    • $2,304 /Mo

      Dripping Springs Office Space

      1,200 SF office space in Dripping Springs near Austin.
      701 Highway 290 W 101, Dripping Springs, TX 78620
      View Details
    • $3,800 /Mo

      Dripping Springs Office Suite For Rent

      Private office suite with Hill Country views and RR12 frontage.
      30307 120, Dripping Springs, TX 78620
      View Details
    • Contact for pricing
      18,740 SF

      Dripping Springs Retail Space Available

      1,500 SF Retail Suite in Prime Location
      136 Drifting Wind Run, Dripping Springs, TX 78620
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space in Belterra Village

      Mixed-use development with retail, restaurant, and outdoor opportunities.
      164 Belterra Vlg Way, Dripping Springs, TX
      View Details

    FAQs

    What type of property is this?
    Office space - Charming office space in historical Dripping Springs available for rent.
    Where is this office space located?
    The property is located at 602 Old Fitzhugh Rd, Unit B Dripping Springs, TX.
    What are key features of this property?
    This property features: - Prime location with frontage on Ranch Road 12 & Old Fitzhugh Rd in the heart of Dripping Springs.; - Half-acre lot with mature oak trees.; - Suitable for professional office, light medical, or med-spa use.
    (512) 415-9841
    Request Owner's contact information
    602 Old Fitzhugh Rd, Unit B Dripping Springs, TX 78620
    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.
    602 Old Fitzhugh Rd, Unit B
    Dripping Springs, TX 78620
    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
    602 Old Fitzhugh Rd, Unit B Dripping Springs, TX 78620
    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

    We can help!
    Listing Contact
    Andy Hunt
    (512) 415-9841
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.