Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • 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
    Property profile & analytics

    427 Creek Rd Dripping Springs, TX 78620

    • Commercial real estate
    • 2.04 lot acres
    For Sale
    View listing
    $725,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-1679698
    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

    • Commercial real estate

    Property Details for 427 Creek Rd

    Lot size
    2.04 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 2.04-acre commercial lot presents a remarkable investment opportunity in the thriving town of Dripping Springs, Texas. Located at 427 Creek Rd, 78620, this property boasts a highly desirable location, perfect for a wide range of commercial developments. Currently zoned SF-4, the property offers flexibility, with the potential for rezoning to LR (subject to approval of a site plan). This blank canvas allows for the creation of a bespoke commercial project tailored to specific needs. The property's central location within Dripping Springs ensures high visibility and accessibility, capitalizing on the town's rapid expansion and growing population. Given the current market conditions and the scarcity of available land, this presents a unique chance to establish a significant commercial presence in a booming Texas community. Interested parties are encouraged to inquire about utility availability and zoning possibilities. Don't miss this rare opportunity to secure a prime piece of Dripping Springs real estate. The asking price is $725,000. This property is situated in Hays County and offers significant potential for future growth and return on investment.

    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
    -98.0994499
    Latitude
    30.188973

    Comparable in this City

    • $6,900,000
      17.40 Acres

      Texas Hill Country Estate

      Luxury 17.4-acre farm, multiple structures
      690 Autumn Ln, Dripping Springs, TX 78620
      View Details
    • $2,000,000
      4.22 Acres

      Dripping Springs Commercial Land

      4.22 Acres, Prime Location, CS Zoning
      2350 Us-290, Dripping Springs, TX 78620
      View Details
    • $1,500,000

      Versatile Land Near Dripping Springs

      20-acre property near Dripping Springs with no restrictions.
      251 Pioneer Trl, Dripping Springs, TX 78620
      View Details
    • $888,300

      Land For Sale

      Land available for purchase.
      3300 Fm 165, Dripping Springs, TX 78620
      View Details
    • $650,000

      Commercial Lot in Cortaro Subdivision

      2.53 acre commercial lot with utilities in place.
      410 Whisenant / Cortaro Dr 257 Ln, Dripping Springs, TX 78620
      View Details
    • $4,000,000

      Development Opportunity in Dripping Springs

      Land with frontage on Ranch Road 12 in Dripping Springs.
      29300 Ranch Road 12, Dripping Springs, TX 78620
      View Details

    Similar Nearby for Sale

    • $6,900,000
      17.40 Acres

      Texas Hill Country Estate

      Luxury 17.4-acre farm, multiple structures
      690 Autumn Ln, Dripping Springs, TX 78620
      View Details
    • $2,000,000
      4.22 Acres

      Dripping Springs Commercial Land

      4.22 Acres, Prime Location, CS Zoning
      2350 Us-290, Dripping Springs, TX 78620
      View Details
    • $1,500,000

      Versatile Land Near Dripping Springs

      20-acre property near Dripping Springs with no restrictions.
      251 Pioneer Trl, Dripping Springs, TX 78620
      View Details
    • $888,300

      Land For Sale

      Land available for purchase.
      3300 Fm 165, Dripping Springs, TX 78620
      View Details
    • $650,000

      Commercial Lot in Cortaro Subdivision

      2.53 acre commercial lot with utilities in place.
      410 Whisenant / Cortaro Dr 257 Ln, Dripping Springs, TX 78620
      View Details
    • $4,000,000

      Development Opportunity in Dripping Springs

      Land with frontage on Ranch Road 12 in Dripping Springs.
      29300 Ranch Road 12, Dripping Springs, TX 78620
      View Details

    Similar Nearby for Lease

    • $36 SF/Yr
      1,100 SF

      Dripping Springs Office Space

      1,100 sq ft Office, 2.956 Acres
      30303 Ranch Road 12, Dripping Springs, TX 78620
      View Details
    • $39 SF/Yr
      2,000 SF

      Texas Hill Country Gem: Lease

      Historic Filling Station, Creative Office Space
      7080 Us-290, Dripping Springs, TX 78620
      View Details
    • $19 SF/Yr
      1,300 SF

      Versatile Space Near Highway 290

      Adaptable space suitable for retail, flex, or office use.
      105 S Canyonwood Dr, Dripping Springs, TX 78620
      View Details
    • $31 SF/Yr
      3,290 SF

      Dripping Springs Office/Medical Space

      3,290 SF space ideal for professional or medical office.
      2440 Highway 290 E, Dripping Springs, TX 78620
      View Details
    • $3,800 /Mo

      Dripping Springs Office Suite

      Private office suite with Hill Country views and ample parking.
      30307 Ranch Road 12, Dripping Springs, TX 78620
      View Details
    • $15 SF/Yr

      Warehouse Space with Office

      Warehouse space with office and excellent parking available for lease.
      1034 Cyn Bnd Dr Dr, Dripping Springs, TX 78620
      View Details
    Request Owner's contact information
    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.
    427 Creek Rd
    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
    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

    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.