Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    251 County Road 107 Georgetown, TX 78626

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Prime multifamily development site, excellent location.

    Property Features for 251 County Road 107

    General Information

    Property type
    Land
    Lot Size
    954,400 SF

    We can help!

    Listing Contact
    Richard Gary
    Richard Gary

    Listing Agent: Richard Gary

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional 21.91-acre tract presents a unique opportunity for multifamily development in Georgetown, Texas. Located just one block north of University Boulevard, off County Road 107, the property boasts outstanding views and favorable topography. Its strategic location offers easy access to major employment centers in the medical, retail, and educational sectors, with proximity to Texas State University – Round Rock, St. David's School of Nursing, Texas A&M Health Science Center, Southwestern University, Seton Medical Center, Round Rock Outlets, Emerson, and major highways including Toll 130 and I-35. Currently situated in the Georgetown ETJ (Extra Territorial Jurisdiction), this property benefits from recent infrastructure improvements, including a newly installed 12-inch water main by Jonah Water and a newly created public wastewater district, eliminating previous service limitations. A landowner request to be removed from the ETJ (filed September 1, 2023) further streamlines development by reducing jurisdictional complexities to county level oversight only, avoiding city regulations and associated taxes. The property includes an existing home and outbuildings, likely slated for demolition. The high elevation at the rear of the property provides sweeping views of the surrounding area. This development opportunity offers significant potential for substantial returns, given the prime location, improved infrastructure, and simplified regulatory environment. The expected permitting completion date is August 2024.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Real Estate Agency Building Supply Big Box & Wholesale Store Storage Facility Electrical Service Electronics & Wireless Store Daycare Center Wine and Liquor Store Carpet & Flooring Store Catering Service

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Georgetown
    County
    Williamson
    State
    Texas
    Longitude
    -97.612043908053
    Latitude
    30.589867667274

    Nearby Similar for Sale

    • $345,000

      Georgetown Commercial Office For Sale

      Office space in great condition near upcoming mixed-use development.
      5373 Williams Dr, Georgetown, TX 78633
      View Details
    • $345,000
      958 SF

      Georgetown Office with Excellent Floorplan

      Office space featuring a functional layout and proximity to development.
      5373 Williams Dr, Georgetown, TX 78633
      View Details
    • Contact for pricing
      1,261 SF

      4869 Williams Dr #105

      4869 Williams Dr #105, Georgetown, TX 78633
      4869 Williams Dr #105, Georgetown, TX 78633
      View Details
    • $699,000

      Georgetown Retail or Office Space

      Rare opportunity to own retail or office space in Georgetown.
      102 E University Ave, Georgetown, TX 78626
      View Details
    • $295,000
      Pending

      Georgetown Office Condo For Sale

      Well-maintained office condo in a popular Georgetown complex.
      3613 Williams Dr, Georgetown, TX 78628
      View Details
    • $2,495,000

      Renovated Leased Building on Square

      Fully leased, renovated building presents a great investment opportunity.
      712 S Austin Ave, Georgetown, TX 78626
      View Details
    • $1,300,000

      Leander Road Office Building

      Office building with multiple offices, conference rooms, and parking.
      504 Leander Rd, Georgetown, TX 78626
      View Details
    • $649,000

      Georgetown Retail or Office Space

      Retail or office space in a desirable Georgetown location.
      102 E University Ave, Georgetown, TX 78626
      View Details
    • $875,000
      3,400 SF

      Industrial Building on One Acre

      3,400 SF industrial building on 1 acre for sale.
      450 Private Road 917, Georgetown, TX 78626
      View Details
    • $895,000

      Downtown Georgetown Corner Property

      Prime corner property in downtown Georgetown near the historic Square.
      510 S Church St, Georgetown, TX 78626
      View Details
    • $1,300,000

      Leander Road Office Building

      Office building with multiple offices, conference rooms, and parking.
      504 Leander Rd, Georgetown, TX 78626
      View Details
    • $2,495,000

      Renovated Leased Building on Square

      Fully leased, renovated building offers great investment opportunity.
      712 S Austin Ave, Georgetown, TX 78626
      View Details

    FAQs

    What type of property is this?
    Land - Prime multifamily development site, excellent location.
    Where is this land located?
    The property is located at 251 County Road 107 Georgetown, TX.
    What are key features of this property?
    This property features: 21.91-acre multifamily development site in Georgetown, TX, one block north of University Boulevard.; High elevation at rear of property with sweeping views.; Excellent access to major employers including Texas State University - Round Rock, St. David's School of Nursing, Texas A&M Health Science Center, Southwestern University, Seton Medical Center, Round Rock Outlets, and Emerson.
    (512) 901-9800 Call to check price and availability
    Request Owner's contact information
    251 County Road 107 Georgetown, TX 78626
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    251 County Road 107
    Georgetown, TX 78626
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    251 County Road 107 Georgetown, TX 78626
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Richard Gary
    Richard Gary
    Real Estate License ID: 0675838
    (512) 901-9800 (512) 415-9367 (512) 346-3550
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!