Farm Property with Rental
For Sale
$2,800,000
251 Circle Dr, Wimberley, TX 78676
Multi-structure Hill Country property with residences, event facilities, agricultural features, and dedicated water and septic systems.
Property Size11,126 SF
Price / SF$251.66
Days on Market674
Property Features for 251 Circle Dr
General Information
Standard status
Active
Size
11,126 SF
Property subtype
Commercial
Building Details
Year Built
2001
Listing Agency:
Keller Williams - Lake Travis
Listed By:
Alice Duffy (512) 784-2345 · License #0681288
(512) 784-2345
Source:
Seeaustinareahouses
Added: Dec 9, 2024
Changed: Oct 1
Last Checked: Oct 12 at 7:54PM
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 Keller Williams - Lake Travis
Investment Insights
Based on property information with market context.
Set on approximately 22 acres near downtown Wimberley, this farm property combines residential, event, office, agricultural, and support improvements. The property includes approximately 16 rental homes, including some multi-bedroom residences, along with an office containing owner or manager living quarters. Additional improvements include a covered event pavilion, gazebos, an in-ground pool, multiple RV spots, a workshop, greenhouse, storage buildings, laundry facility, and a small livestock area.
The property previously operated as a wedding venue and later served as a multi-tenant business. Hill Country views are available from many residences and community meeting spaces. Commercial-grade water and septic systems support the existing collection of buildings and uses. Located at 251 Circle DR in Wimberley, the property was built in 2001.
The property previously operated as a wedding venue and later served as a multi-tenant business. Hill Country views are available from many residences and community meeting spaces. Commercial-grade water and septic systems support the existing collection of buildings and uses. Located at 251 Circle DR in Wimberley, the property was built in 2001.
Key Highlights
- Approximately 22 acres near downtown Wimberley
- Approximately 16 rental homes, including some multi‑bedroom residences
- Covered event pavilion, gazebos, community meeting spaces, and in‑ground pool
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$170,552
Cap Rate
6.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,411,040
$3.4M
Cap Rate 7%
$2,436,457
$2.4M
Cap Rate 9%
$1,895,022
$1.9M
Market Conditions
NOI Build-Up for 11,126 SF
Gross rent
$327.1K $29.40/SF
− Vacancy
−$17.0K −$1.53/SF
EGI
$310.1K $27.87/SF
− OpEx
−$139.5K −$12.54/SF
NOI
$170.6K $15.33/SF
Area
Hays County, TX
Vacancy
5.20%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,411,040
Cap Rate 7%
$2,436,457
Cap Rate 9%
$1,895,022
Alternative Uses
Best Use
Apartment 5plus
$2.44M
$2.13M – $2.84M
NOI $170,552 @ 7.0% cap · market cap 6.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.65M
$4.07M – $5.43M
NOI $325,566 @ 7.0% cap · market cap 11.63%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
19
Businesses Nearby
Explore this area
Business Placement
Demographics for 78676, TX
14,713
Population
7,487
Households
2
Avg Household Size
52
Median Age
50%
College-Educated
93%
High-School Grad
167.8 sq mi
ZIP Area
88
Density / Sq Mi
$86,819
Median Household Income
$44,745
Median Earnings
$1,432
Median Rent
$476,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Farm - Multi-structure Hill Country property with residences, event facilities, agricultural features, and dedicated water and septic systems.
Where is this farm located?
The property is located at 251 Circle Dr Wimberley, TX.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Approximately 22 acres near downtown Wimberley; Approximately 16 rental homes, including some multi‑bedroom residences; Covered event pavilion, gazebos, community meeting spaces, and in‑ground pool
