Mixed-Use Property with Dual
For Sale
$599,000
1330 Highway 290, Dripping Springs, TX 78620
CS - Commercial zoning allows residential or commercial use, subject to applicable city restrictions.
Property Size1,568 SF
Price / SF$382.02
Days on Market1407
Property Features for 1330 Highway 290
General Information
Standard status
Active
Size
1,568 SF
Total Parking Spaces
20
Property subtype
Commercial Sale / Mixed Use
Zoning
CS - Commercial
Taxes and HOA fees
Annual Taxes
$2,229
Building Details
Year Built
1990
Buildings
1
Listing Agency:
RE/MAX GATEWAY
Listed By:
Steve Cossette · License #0529781
(512) 299-6570
Source:
Compass
Added: Dec 10, 2022
Changed: Oct 10
Last Checked: Oct 16 at 11:19AM
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 RE/MAX GATEWAY
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Investment Insights
Based on property information with market context.
This mixed-use property offers approximately 2+ usable acres with CS - Commercial zoning and potential for either residential or commercial use. The site includes a Barton Creek contributory, described as primarily a dry creek and grotto used for water management, adding a distinct natural feature to the property.
Highway 290 frontage measures 200+ feet, while the rear or house-side frontage along Old Highway 290 extends approximately 420+ feet. The property is next to the US Post Office on the west side and lies within the City of Dripping Springs, where typical city restrictions apply. Buyers are responsible for verifying acreage, encumbrances, easements, and city restrictions.
Highway 290 frontage measures 200+ feet, while the rear or house-side frontage along Old Highway 290 extends approximately 420+ feet. The property is next to the US Post Office on the west side and lies within the City of Dripping Springs, where typical city restrictions apply. Buyers are responsible for verifying acreage, encumbrances, easements, and city restrictions.
Key Highlights
- Approximately 2+ usable acres
- 200+ feet of frontage on HWY 290
- Approximately 420+ feet on Old Hwy 290
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,168
Cap Rate
3.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$423,360
$423.4K
Cap Rate 7%
$302,400
$302.4K
Cap Rate 9%
$235,200
$235.2K
Market Conditions
NOI Build-Up for 1,568 SF
Gross rent
$37.6K $24.00/SF
− Vacancy
−$3.8K −$2.40/SF
EGI
$33.9K $21.60/SF
− OpEx
−$12.7K −$8.10/SF
NOI
$21.2K $13.50/SF
Area
Hays County, TX
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$423,360
Cap Rate 7%
$302,400
Cap Rate 9%
$235,200
Alternative Uses
Best Use
Mixed Use
$302.4K
$264.6K – $352.8K
NOI $21,168 @ 7.0% cap · market cap 3.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$655.5K
$573.5K – $764.7K
NOI $45,882 @ 7.0% cap · market cap 7.66%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
365
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - CS - Commercial zoning allows residential or commercial use, subject to applicable city restrictions.
Where is this mixed-use property located?
The property is located at 1330 Highway 290 Dripping Springs, TX.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Approximately 2+ usable acres; 200+ feet of frontage on HWY 290; Approximately 420+ feet on Old Hwy 290
