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    Property profile & analytics

    15415 Fitzhugh Rd Dripping Springs, TX 78620

    • Life science properties
    • 47,000 SF
    For Sale
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-1838055
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Life science properties

    Property Details for 15415 Fitzhugh Rd

    Property size
    47,000 SF
    Property type
    Life science properties
    Property subtype
    Flex space

    Description

    This exceptional 47,000 square foot industrial property in Dripping Springs, Texas, offers a unique investment opportunity. Located at 15415 Fitzhugh Rd, 78620, this light industrial zoned development comprises four buildings totaling 41 individual units, perfect for a variety of uses including flex space, R&D, and warehouse storage. Building sizes vary, with units ranging from 25x40 to 30x40 square feet. Each unit boasts high-quality features such as HVAC, painted interior walls, polished concrete floors, and 14x14 or 10x14 overhead doors with operators and MyQ technology. Electronic door locks and 24/7 access provide ultimate convenience and security. Many units include mezzanines with electric and lighting packages, restrooms, and wet bars. Select units offer balconies and fenced backyards. The property features ample parking, exceeding typical warehouse ratios at 3:2 per 1,000 square feet, with both shared and dedicated spots available for lease. Additional amenities include ADA accessibility, Pedernales Electric Cooperative power, rain harvesting with well backup for domestic water supply, and high-speed internet access. Currently vacant, this property presents a rare chance to acquire a well-appointed, versatile industrial complex in a rapidly growing area. Fall 2023 delivery.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Dripping Springs
    County
    Hays
    State
    Texas
    Longitude
    -98.0330824
    Latitude
    30.2455784

    Comparable in this City

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    • $475,965
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      Dripping Springs Flex Warehouse Space

      Flex warehouse space ideal for small business and creative office.
      5431 Fitzhugh Rd, Dripping Springs, TX 78620
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      15.00 Acres

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    Similar Nearby for Sale

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      Dripping Springs Industrial Property

      7.16-acre flex warehouse, ready to build.
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      7,200 SF

      Dripping Springs Flex Warehouse Space

      7,200 SF Flex Space - Hwy 290 Access
      4955 Bell Spg Rd, Dripping Springs, TX 78620
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    • $1,799,000
      14,000 SF

      Dripping Springs Industrial Property

      14,000 SF Flex Warehouse, $1.8M
      133 Glosson Ranch Rd, Dripping Springs, TX 78620
      View Details
    • $475,965
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      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
      15.00 Acres

      Dripping Springs Brewery & Event Space

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      View Details

    Similar Nearby for Lease

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      14,000 SF

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    • $1,550 /Mo

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    • $19 SF/Yr
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    Dripping Springs, TX 78620
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    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
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