Office Condo Suite
For Sale
$1,100,000
D-800 W Highway 290, Dripping Springs, TX 78620
Office condo in a commercial complex off Highway 290, mostly leased with one suite available.
Property Size4,000 SF
Price / SF$275
Days on Market451
Property Features for D-800 W Highway 290
General Information
Standard status
Active
Size
4,000 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Listing Agency:
Friedman Real Estate, Inc.
Listed By:
Josh Friedman · License #0451763
(512) 892-9934
Source:
Exprealty
Added: Jul 28, 2025
Changed: Oct 13
Last Checked: Oct 20 at 9:38PM
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.
Ask AI about this property
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 approximately 4,000 SF office property offers a flexible layout suited for a variety of professional uses. The building is currently leased out with the exception of one suite, making it a practical fit for an owner-user looking to occupy part of the property while maintaining rental income, or for an investor seeking a stabilized asset.
The property is situated just off Highway 290 in Dripping Springs, with visibility and straightforward access intended to serve clients and tenants. The configuration supports a range of professional disciplines, including medical, legal, tech, and financial services.
An investor or occupying tenant can evaluate the available suite alongside the existing leases within the condo complex, combining operational flexibility with an established income base.
The property is situated just off Highway 290 in Dripping Springs, with visibility and straightforward access intended to serve clients and tenants. The configuration supports a range of professional disciplines, including medical, legal, tech, and financial services.
An investor or occupying tenant can evaluate the available suite alongside the existing leases within the condo complex, combining operational flexibility with an established income base.
Key Highlights
- 4,000 SF office condo in a well‑established commercial condo complex
- Mostly leased with one suite available
- Located just off Highway 290 with easy access for clients and tenants
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
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
619
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 in a commercial complex off Highway 290, mostly leased with one suite available.
Where is this office unit located?
The property is located at D-800 W Highway 290 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; Mostly leased with one suite available; Located just off Highway 290 with easy access for clients and tenants
