Leased Office Condo
For Sale
$1,100,000
800 W Highway 290 # D, Dripping Springs, TX 78620
Office condo within a commercial complex with 4,000 SF and one available suite for occupancy or investment.
Property Size4,000 SF
Price / SF$275
Days on Market453
Property Features for 800 W Highway 290 # D
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Office
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$12,762
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:
Zellteam
Added: Jul 28, 2025
Changed: Oct 10
Last Checked: Oct 21 at 6:20AM
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.
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located within a well-established commercial condo complex, this 4,000 SF office property offers a flexible layout suitable for a range of professional uses. The building is currently leased out with the exception of one suite, providing an owner-user option to occupy a portion while generating income, or an investor option for a predominantly leased asset.
The property is positioned just off Highway 290 in Dripping Springs, providing convenient access for clients and tenants. It is described as being in one of the area’s desirable business corridors with visibility from the highway-adjacent location, supporting straightforward client access and tenant visibility.
The property is positioned just off Highway 290 in Dripping Springs, providing convenient access for clients and tenants. It is described as being in one of the area’s desirable business corridors with visibility from the highway-adjacent location, supporting straightforward client access and tenant visibility.
Key Highlights
- 4,000 SF office condo in a well‑established commercial condo complex
- Leased with the exception of one suite, available for occupancy or investment
- Located just off Highway 290 for client and tenant access
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.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
802
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
Frequently Asked Questions
What type of property is this?
Office unit - Office condo within a commercial complex with 4,000 SF and one available suite for occupancy or investment.
Where is this office unit 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: 4,000 SF office condo in a well‑established commercial condo complex; Leased with the exception of one suite, available for occupancy or investment; Located just off Highway 290 for client and tenant access
