Commercial-Zoned Residential Income
For Sale
Under Contract
$399,000
201 County Road 279, Liberty Hill, TX 78642
CommercialSale, Liberty Hill, TX
Property Size984 SF
Lot Size0.47 Acres
Price / SF$405.49
Days on Market96
Property Features for 201 County Road 279
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
C2
Lot features
City Lot, Quarter To Half Acre Lot
Directions
North 183, Left on Hwy 29, Left on CR 201 go downtown and house on left.
Standard status
Active Under Contract
APN
R022024
Size
984 SF
Lot size
0.47 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
AW0233 AW0233 - FIELD, H. SUR., ACRES 0.47
Tax Annual Amount
9111
Legal Description
AW0233 AW0233 - FIELD, H. SUR., ACRES 0.47
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1950
Floors in Building
1
Flooring type
Laminate
Building materials
Masonry
Listing Agency:
First in Real Estate
(512) 801-8619
Listed By:
Jonathan Branigan · License #0489225
(512) 584-6000
Added: Jul 14
Changed: Oct 6
Last Checked: Oct 17 at 2:06AM
MLS# 619644
Copyright © 2026 Central Texas Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This recently updated 2-bedroom, 1-bath property offers a residence today and flexibility for future use. The offering includes a spacious lot, with no HOA and no deed restrictions per the public remarks, giving room for additional improvements, parking, or expansion.
The property is located just minutes from downtown Liberty Hill in Williamson County. It is served by C-2 zoning, and the public remarks note that converting the existing structure to office or other commercial use may require approval, permitting, and improvements through the City of Liberty Hill. Buyer verification is recommended for any intended uses.
At the same time, the current configuration provides a straightforward residential setup while maintaining the commercial zoning option for buyers who want to explore alternate directions for the site.
The property is located just minutes from downtown Liberty Hill in Williamson County. It is served by C-2 zoning, and the public remarks note that converting the existing structure to office or other commercial use may require approval, permitting, and improvements through the City of Liberty Hill. Buyer verification is recommended for any intended uses.
At the same time, the current configuration provides a straightforward residential setup while maintaining the commercial zoning option for buyers who want to explore alternate directions for the site.
Key Highlights
- 2‑bedroom, 1‑bath home with recent updates
- C‑2 commercial zoning with flexible residential or commercial use potential (buyer to verify intended uses)
- No HOA and no deed restrictions
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,464
Cap Rate
5.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$469,280
$469.3K
Cap Rate 7%
$335,200
$335.2K
Cap Rate 9%
$260,711
$260.7K
Market Conditions
NOI Build-Up for 984 SF
Gross rent
$41.3K $42.00/SF
− Vacancy
−$10.0K −$10.21/SF
EGI
$31.3K $31.79/SF
− OpEx
−$7.8K −$7.95/SF
NOI
$23.5K $23.85/SF
Area
Williamson County, TX
Vacancy
24.30%
Lease Rate
$42.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$469,280
Cap Rate 7%
$335,200
Cap Rate 9%
$260,711
Alternative Uses
Best Use
Office B
$335.2K
$293.3K – $391.1K
NOI $23,464 @ 7.0% cap · market cap 5.88%
Second Best
Apartment 5plus
$215.5K
$188.6K – $251.4K
NOI $15,084 @ 7.0% cap · market cap 3.78%
Theoretical Best
Office A
$411.3K
$359.9K – $479.9K
NOI $28,794 @ 7.0% cap · market cap 7.22%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
381
Businesses Nearby
Explore this area
Business Placement
Demographics for 78642, TX
20,385
Population
8,399
Households
2.4
Avg Household Size
37
Median Age
43%
College-Educated
90%
High-School Grad
111.1 sq mi
ZIP Area
183
Density / Sq Mi
$128,086
Median Household Income
$58,118
Median Earnings
$1,475
Median Rent
$486,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Updated 2-bed, 1-bath home on a large lot with C-2 zoning, suited for residential or flexible commercial possibilities.
Where is this office building located?
The property is located at 201 County Road 279 Liberty Hill, TX.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 2‑bedroom, 1‑bath home with recent updates; C‑2 commercial zoning with flexible residential or commercial use potential (buyer to verify intended uses); No HOA and no deed restrictions
