Climate-Controlled Flex
379 Matthew Cove, Bastrop, TX 78602
For Sale
$1,500,000
3,700-square-foot climate-controlled flex building on a 20-acre gentleman’s ranch with a custom home and outdoor amenities.
Property Size4,852 SF
Lot Size20.00 Acres
Price / SF$309.15
Days on Market118
Property Features for 379 Matthew Cove
General Information
Standard status
Size
Lot size
Property subtype
Amenities
Wood
2
Yes
4
3
Electric Dryer Hookup
Appraiser
1
Wood Burning
Heavily Wooded
Wooded
20
Detached,Garage
Asphalt
Slab
Private Road
4852
Building Details
Building Size
Year Built
Stories
Listing Agency:
Keller Williams Brazos West
(817) 279-6996
Listed By:
Kasey Mock · License TX #636589
(512) 275-6625
Source:
Garygreene
Added: Jul 15
Changed: Nov 8
Last Checked: Nov 8 at 4:15AM
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 Brazos West
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Investment Insights
Based on property information with market context.
Set on a 20-acre gentleman’s ranch tucked away at the end of Matthew Cove, this property combines a custom home with a dedicated climate-controlled flex building. The 4,838-square-foot custom residence includes three bedrooms, four bathrooms, multiple living spaces, a library, and a theater room, along with an oversized laundry and mud room. Outdoors, the irrigated fenced lawn, in-ground pool, and waterfall feature are set among mature trees.
Along the back of the property, Piney Creek borders the site, and the grounds are surrounded by towering pines. In addition to the home, a 3,700-square-foot climate-controlled flex building is positioned to support a variety of business or creative uses. The property also includes underground rainwater collection tanks capturing runoff from the building and solar panels located on both the barn and garage, adding utility support to the overall setup.
Along the back of the property, Piney Creek borders the site, and the grounds are surrounded by towering pines. In addition to the home, a 3,700-square-foot climate-controlled flex building is positioned to support a variety of business or creative uses. The property also includes underground rainwater collection tanks capturing runoff from the building and solar panels located on both the barn and garage, adding utility support to the overall setup.
Key Highlights
- 20‑acre gentleman’s ranch with Piney Creek bordering the back of the property
- 4,838‑SF custom home (built in 2007) with 3 bedrooms, 4 bathrooms, multiple living spaces, a library and theater room
- 3,700‑SF climate‑controlled flex building designed for business or studio use with underground rainwater collection tanks
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,413
Cap Rate
2.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$868,260
$868.3K
Cap Rate 7%
$620,186
$620.2K
Cap Rate 9%
$482,367
$482.4K
Market Conditions
NOI Build-Up for 4,852 SF
Gross rent
$72.2K $14.88/SF
− Vacancy
−$10.2K −$2.10/SF
EGI
$62.0K $12.78/SF
− OpEx
−$18.6K −$3.83/SF
NOI
$43.4K $8.95/SF
Area
Bastrop County, TX
Vacancy
14.10%
Lease Rate
$14.88 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$868,260
Cap Rate 7%
$620,186
Cap Rate 9%
$482,367
Alternative Uses
Best Use
Industrial
$620.2K
$542.7K – $723.6K
NOI $43,413 @ 7.0% cap · market cap 2.89%
Second Best
Flex RnD
$575.9K
$503.9K – $671.9K
NOI $40,312 @ 7.0% cap · market cap 2.69%
Theoretical Best
Office A
$1.90M
$1.66M – $2.22M
NOI $133,094 @ 7.0% cap · market cap 8.87%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
13
Businesses Nearby
Well-served
Demand for This Use
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Business Placement
Demographics for 78602, TX
33,759
Population
13,485
Households
2.5
Avg Household Size
40
Median Age
27%
College-Educated
87%
High-School Grad
195.3 sq mi
ZIP Area
173
Density / Sq Mi
$86,976
Median Household Income
$41,644
Median Earnings
$1,331
Median Rent
$310,300
Median Home Value
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - 3,700-square-foot climate-controlled flex building on a 20-acre gentleman’s ranch with a custom home and outdoor amenities.
Where is this flex space located?
The property is located at 379 Matthew Cove Bastrop, TX.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 20‑acre gentleman’s ranch with Piney Creek bordering the back of the property; 4,838‑SF custom home (built in 2007) with 3 bedrooms, 4 bathrooms, multiple living spaces, a library and theater room; 3,700‑SF climate‑controlled flex building designed for business or studio use with underground rainwater collection tanks
