400 Old Highway 290, Dripping Springs, TX 78620
Gated former memory care facility on acreage with multiple wings, client rooms, dining areas, and covered patios.
- Added:
- May 27, 2026
- Days on Market:
- 11
- Last Refresh:
- Jun 6 at 6:07 am
Property Features for 400 Old Highway 290
General Information
- Standard status
- Active
- Size
- 16,006 SF
- Lot size
- 22.74 Acres
- Property subtype
- Office, Mixed Use, Senior Living
Building Details
- Year Built
- 2001
Listing agent David Foster License #TX 0519039
Listing office Long River Properties LLC (512) 751-1100
Listing date May 27, 2026
Source Crexi
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 Long River Properties LLC
HighLights
- Former memory care facility built in 2001 on a gated property in Dripping Springs, TX, near Dripping Springs High School
- 3 building wings with 17 guest/client rooms plus multiple offices, large dining room and kitchen, and a reception area
- 22 restrooms and 4 showers, including a medicine room and an exercise room, with large windows for natural light
- Includes several covered patios, an attached apartment, and an attractive courtyard; raised herb gardens are on site
- On‑site client amenities include a client beauty salon nook and a large activity room
- Property is on 22.74 acres available for sale, with seller open to expanding the acreage and/or adding access to Roger Hanks Parkway
Overview
The gated entrance is located on Old Hwy 290, a short distance from Highway 290 and Roger Hanks Parkway. The facility sits on mature oak trees with pastoral views, near Dripping Springs High School.
The current configuration lends itself to a range of healthcare and service uses, including assisted living, memory care, rehab, office, wellness center, lab, or other compatible uses. The seller indicates willingness to expand the acreage included, potentially to include access to Roger Hanks Parkway directly across from the high school, and also offers owner financing. The larger available 22.74-acre site could support development of a multi-care level campus with retail and services for residents, subject to applicable approvals.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $672.3k | $42.00 |
| − Vacancy | −$163.4k | −$10.21 |
| EGI | $508.9k | $31.79 |
| − OpEx | −$127.2k | −$7.95 |
| NOI | $381.7k | $23.85 |
Alternative Uses
Current Use by Public Records
Similar Places Nearby
- Grace and Pax House — 1459 w hwy 290, dripping springs, tx 78620
Location Insight
- Map
- Local Demand
- City
- Dripping Springs
- County
- Hays
- State
- Texas
- Longitude
- -98.1046983
- Latitude
- 30.1999726