Versatile Commercial Condo in Dripping
For Sale
$1,100,000
800 W Highway 290 D, Dripping Springs, TX 78620
4,000 SF condo with income potential near Highway 290.
Property Size4,000 SF
Lot Size5.04 Acres
Days on Market313
Property Features for 800 W Highway 290 D
General Information
Standard status
Active
Size
4,000 SF
Lot size
5.04 Acres
Property subtype
Commercial
Building Details
Building Size
4,000 SF
Year Built
2001
Listing Agency:
Friedman Real Estate, Inc.
Listed By:
Josh Friedman · License #0451763
(512) 924-5323
Source:
Elliman
Added: Nov 28, 2025
Changed: Sep 30
Last Checked: Oct 7 at 1:48PM
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 Friedman Real Estate, Inc.
Investment Insights
Based on property information with market context.
This 4,000 SF commercial condo is located within a well-established commercial condo complex in Dripping Springs. Situated just off Highway 290, the location provides visibility and access for clients and tenants. The building is currently leased out with the exception of one suite. It is suited for an owner-user looking to occupy a portion while generating passive income, or an investor seeking a stable, income-producing asset. The flexible layout is suited for a variety of professional users including medical, legal, tech, and financial services.
Key Highlights
- High visibility and easy access location off Highway 290 in a desirable Dripping Springs business corridor.
- Strong income potential as a leased property with one suite available.
- Versatile 4,000 SF space suitable for owner‑user or investor.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$95,382
Cap Rate
8.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,907,640
$1.9M
Cap Rate 7%
$1,362,600
$1.4M
Cap Rate 9%
$1,059,800
$1.1M
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$168.0K $42.00/SF
− Vacancy
−$40.8K −$10.21/SF
EGI
$127.2K $31.79/SF
− OpEx
−$31.8K −$7.95/SF
NOI
$95.4K $23.85/SF
Area
Hays 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%
$1,907,640
Cap Rate 7%
$1,362,600
Cap Rate 9%
$1,059,800
Alternative Uses
Best Use
Office B
$1.36M
$1.19M – $1.59M
NOI $95,382 @ 7.0% cap · market cap 8.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.67M
$1.46M – $1.95M
NOI $117,047 @ 7.0% cap · market cap 10.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
15
Businesses Nearby
Explore this area
Business Placement
Demographics for 78620, TX
20,493
Population
7,929
Households
2.6
Avg Household Size
43
Median Age
62%
College-Educated
97%
High-School Grad
175.6 sq mi
ZIP Area
117
Density / Sq Mi
$146,551
Median Household Income
$58,583
Median Earnings
$1,674
Median Rent
$624,800
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - 4,000 SF condo with income potential near Highway 290.
Where is this office units located?
The property is located at 800 W Highway 290 D Dripping Springs, TX.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: High visibility and easy access location off Highway 290 in a desirable Dripping Springs business corridor.; Strong income potential as a leased property with one suite available.; Versatile 4,000 SF space suitable for owner‑user or investor.
