Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search

    1800 Highway 290 Dripping Springs, TX 78620

    Sponsored
    For Sale
    $12,750,000

    48 Acres, Highway 290 Frontage, Prime Development

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    402
    This exceptional 48.43-acre commercial land parcel presents a remarkable investment opportunity in the thriving Dripping Springs, Texas market. Located at 1800 E Highway 290, this property boasts unparalleled visibility and accessibility due to its prime Highway 290 frontage. The expansive lot offers endless development potential, catering to a wide range of uses including mixed-use projects, residential communities, retail centers, multifamily dwellings, townhomes, and medical facilities. The possibilities are truly limitless for a visionary developer. Situated in Hays County, with a 78620 zip code, this location provides convenient access to essential amenities. Less than 1.5 miles from the HEB grocery store and Dripping Springs' downtown area, the property benefits from a strong existing infrastructure and a rapidly growing population. Enjoy stunning southern views from this exceptional site. Furthermore, the convenience of city water access along Highway 290 significantly streamlines development plans. This is a rare opportunity to acquire a substantial tract of land in a highly sought-after location, poised for significant appreciation. The asking price for this prime development site is $12,750,000.

    Property Features for 1800 Highway 290

    General Information

    Property type
    Land
    Lot Size
    2,109,611 SF

    HighLights

    • High‑traffic visibility on Highway 290.
    • Excellent location.
    • Exceptional development potential.
    • City water access at highway frontage.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Wholesale Shop Dental Office Auto Repair Shop Hotel & Motel Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Dripping Springs
    County
    Hays
    State
    Texas
    Longitude
    -98.0584155
    Latitude
    30.1917653

    Nearby Similar for Sale

    • $3,950,000
      3,873 SF

      Hill Country Ranch Estate

      Luxury ranch on 28 acres in Dripping Springs, Texas.
      2300 W Fitzhugh Rd, Dripping Springs, TX 78620
      View Details
    • $950,000
      0.51 Acres

      Commercial Property Near Downtown

      Commercial property with high-end finishes and excellent visibility.
      13872 Ranch Road 12, Dripping Springs, TX 78620
      View Details
    • $2,199,000

      Texas Hill Country Equestrian Retreat

      10-acre Dripping Springs retreat with two homes and equestrian facilities.
      1120 Canyon View Rd, Dripping Springs, TX 78620
      View Details
    • $324,900

      Charming Condo Near Downtown Dripping

      Move-in ready condo near downtown Dripping Springs with modern amenities.
      341 Rose Dr, Dripping Springs, TX 78620
      View Details
    • $2,450,000

      Dripping Springs Commercial Property on Highway

      Commercial property with high visibility on Highway 290.
      4002 E Hwy 290 Hwy, Dripping Springs, TX 78620
      View Details
    • $697,500

      Dripping Springs Office Condo

      Charming office condo in the heart of Dripping Springs.
      27320 C, Dripping Springs, TX 78620
      View Details
    • $1,100,000

      Versatile Commercial Condo in Dripping Springs

      4,000 SF condo with income potential near Highway 290.
      800 D, Dripping Springs, TX 78620
      View Details
    • $2,450,000
      5,000 SF

      Versatile Commercial Building on 1.57 Acres

      5,000 SF building suitable for retail, office, or restaurant.
      4002 Us-290, Dripping Springs, TX
      View Details
    • $475,965
      1,133 SF

      Dripping Springs Flex Warehouse Space

      Flex warehouse space ideal for small business and creative office.
      5431 Fitzhugh Rd, Dripping Springs, TX 78620
      View Details
    • Contact for pricing
      4,946 SF

      Highway 290 Medical Office

      Medical office condos for sale or lease on Highway 290.
      13341 Us-290, Dripping Springs, TX
      View Details
    • Contact for pricing
      3,200 SF

      Dripping Springs Acreage with Buildings

      1.94 acres with office and warehouse buildings near Hwy 290.
      4909 Bell Spg Rd, Dripping Springs, TX
      View Details
    • Contact for pricing
      7,200 SF

      New Industrial Space Available

      New industrial property with great views and dock high option.
      4955 Bell Spg Rd, Dripping Springs, TX
      View Details

    FAQs

    What type of property is this?
    Land - 48 Acres, Highway 290 Frontage, Prime Development
    Where is this land located?
    The property is located at 1800 Highway 290 Dripping Springs, TX.
    What is the asking price?
    The asking price for this property is $12,750,000.
    What are key features of this property?
    This property features: High-traffic visibility on Highway 290.; Excellent location.; Exceptional development potential.
    Request Owner's contact information
    1800 Highway 290 Dripping Springs, TX 78620
    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.
    1800 Highway 290
    Dripping Springs, TX 78620
    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
    1800 Highway 290 Dripping Springs, TX 78620
    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
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.