Driftwood Dance Hall with
For Sale
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23490 Ranch Rd 12, Driftwood, TX 78619
Dance hall with five cabins on 4.18 acres.
Property Size7,100 SF
Lot Size4.18 Acres
Price / SF$280.99
Days on Market977
Property Features for 23490 Ranch Rd 12
General Information
Standard status
Active
Size
7,100 SF
Lot size
4.18 Acres
Property subtype
Retail
Investment Type
Owner/User
Building Details
Buildings
6
Listing Agency:
Deal Vision
Listed By:
Jackson Steinle · License #783155
(512) 762-7569
Source:
Crexi
Added: Feb 3, 2024
Changed: Sep 7
Last Checked: Oct 5 at 6:19PM
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 Deal Vision
Investment Insights
Based on property information with market context.
The Mercer Dance Hall property is located in Driftwood, Texas, and occupies 4.18 acres. The site features a 5,000-square-foot dance hall and five Airbnb cabins, each measuring 420 square feet. The dance hall is constructed on a 5,000-square-foot, 8-inch concrete slab, supported by 40 piers extending 20 feet deep. The property is serviced by a well and septic system. The five rental cabins are situated at the rear of the lot. There is no zoning.
Key Highlights
- Established income potential with 5 fully operational Airbnb cabins.
- Large 5,000 SF dancehall suitable for events and gatherings.
- Significant land parcel of 4.18 acres offering space and privacy.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$125,019
Cap Rate
6.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,500,380
$2.5M
Cap Rate 7%
$1,785,986
$1.8M
Cap Rate 9%
$1,389,100
$1.4M
Market Conditions
NOI Build-Up for 7,100 SF
Gross rent
$184.9K $26.04/SF
− Vacancy
−$6.3K −$0.89/SF
EGI
$178.6K $25.15/SF
− OpEx
−$53.6K −$7.55/SF
NOI
$125.0K $17.61/SF
Area
Hays County, TX
Vacancy
3.40%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,500,380
Cap Rate 7%
$1,785,986
Cap Rate 9%
$1,389,100
Alternative Uses
Best Use
Retail
$1.79M
$1.56M – $2.08M
NOI $125,019 @ 7.0% cap · market cap 6.27%
Second Best
Hotel Hospitality
$915.8K
$801.3K – $1.07M
NOI $64,104 @ 7.0% cap · market cap 3.21%
Theoretical Best
Office A
$2.97M
$2.60M – $3.46M
NOI $207,758 @ 7.0% cap · market cap 10.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
15
Businesses Nearby
Explore this area
Business Placement
Demographics for 78619, TX
5,819
Population
2,484
Households
2.3
Avg Household Size
44
Median Age
55%
College-Educated
99%
High-School Grad
39.9 sq mi
ZIP Area
146
Density / Sq Mi
$171,667
Median Household Income
$69,688
Median Earnings
$1,245
Median Rent
$709,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Dance hall with five cabins on 4.18 acres.
Where is this retail space located?
The property is located at 23490 Ranch Rd 12 Driftwood, TX.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: Established income potential with 5 fully operational Airbnb cabins.; Large 5,000 SF dancehall suitable for events and gatherings.; Significant land parcel of 4.18 acres offering space and privacy.
