301 Mercer St Dripping Springs, TX 78620-4698

Property Details for 301 Mercer St

Year built

1891

Lot size

0.46 lot acres

Property size

340 SF

Property type

Commercial real estate

APN

R26703

APU

R26703

Description

This exceptional 6,000 square foot retail property, located in the heart of Dripping Springs' historic district at 301 W Mercer St, presents a unique investment opportunity. The building, a nationally recognized landmark constructed in 1891 and renovated in 2012, boasts two distinct commercial spaces, each approximately 3,000 square feet. Currently occupied by two established businesses – one with a lease extending to September 21st, 2027, with a five-year renewal option, and the other owner-occupied and potentially available for new use after a negotiated timeframe – this multi-tenant property offers immediate income potential and long-term growth prospects. The property sits on four contiguous lots totaling 19,998 square feet, providing ample space and parking. Features include a covered walkway, convenient parking access from Mercer and College Streets, a large rear parking lot, a fenced and landscaped side yard for one tenant, and a loading dock. The property also benefits from the shade of a historic oak tree on city property. The building is zoned CS and offers potential for a second-story addition. This is an unparalleled opportunity to own a piece of Dripping Springs history in a rapidly growing area of Hays County, one of the fastest-growing counties in the nation. The asking price is $2,890,000, reflecting a land value of $6,534,524.07 per acre. The property is offered as a Net NNN lease.