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

    701 Hwy 290th, Unit 2 Dripping Springs, TX 78620-5387

    • Office Properties & Spaces
    OFF-MARKET
    Last Sale
    Feb 15, 2022
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-1730680
    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

    • Office Properties & Spaces

    Property Details for 701 Hwy 290th

    Property type
    Office Properties & Spaces
    APN
    R168965
    APU
    R168965

    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
    -98.0974
    Latitude
    30.1918
    CBSA code
    12420
    CBSA name
    AUSTIN-ROUND ROCK, TX METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $9,180
    $681,100
    $0.00
    $681,100
    -
    $681,100
    $0.00
    $681,100

    Comparable in this City

    • Value Estimation by Request
      2,000 SF

      7080 Us-290

      Office space • 2,000 SF
      7080 Us-290, Dripping Springs, TX 78620
      View Details
    • Value Estimation by Request
      40,167 SF

      100 Commons Rd

      Office Properties & Spaces • 40,167 SF
      100 Commons Rd, Dripping Springs, TX 78620
      View Details
    • Value Estimation by Request
      4,000 SF

      800 Us-290

      Medical offices • 4,000 SF
      800 Us-290, Dripping Springs, TX 78620
      View Details
    • Value Estimation by Request

      100 Commons Rd

      Coworking space
      100 Commons Rd, Dripping Springs, TX 78620
      View Details
    • Value Estimation by Request

      9 Hwy 290

      CONDOMINIUM OFFICES
      9 Hwy 290, Dripping Springs, TX 78620
      View Details
    • Value Estimation by Request
      6,256 SF

      22601 Ranch Road 12

      Distribution properties • 6,256 SF
      22601 Ranch Road 12, Dripping Springs, TX 78620
      View Details

    Similar Nearby for Sale

    • $2,800,000
      8,721 SF

      Dripping Springs Office Building

      8,721 SF Office, Hwy 290 Frontage
      4004 Highway 290, Dripping Springs, TX 78620
      View Details
    • $2,375,000
      2,813 SF

      27320 Ranch Road 12

      Medical offices • 2,813 SF
      27320 Ranch Road 12, Dripping Springs, TX 78620
      View Details
    • $2,485,000
      6,256 SF

      Dripping Springs Industrial Property

      7.16-acre flex warehouse, ready to build.
      22601 Ranch Road 12, Dripping Springs, TX 78620
      View Details
    • $697,500
      767 SF

      Dripping Springs Office Condo

      767 SF Office, Prime Location
      27320 Ranch Road 12, Dripping Springs, TX 78620
      View Details
    • $2,375,000

      Dripping Springs Condo Complex

      Charming condo complex in thriving Dripping Springs community.
      27320 Ranch Road 12, 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

    Similar Nearby for Lease

    • $13 SF/Yr
      6,256 SF

      New Hays County Warehouse

      6,256 SF Shell Warehouse, 7.16 Acres
      22601 Ranch Road 12, Dripping Springs, TX 78620
      View Details
    • $26 SF/Yr
      4,397 SF

      Dripping Springs Executive Office Space

      Modern Office, 4,397 SF Available
      721 Highway 290, Dripping Springs, TX 78620
      View Details
    • Contact for pricing
      6,136 SF

      Sawyer Ranch Medical Office Suites

      Dripping Springs medical office space available.
      13830 Sawyer Ranch Rd, Dripping Springs, TX 78620
      View Details
    • $1,950 /Mo

      Historical Office Space in Dripping

      Charming office space in historical Dripping Springs available for rent.
      602 Old Fitzhugh Rd, Dripping Springs, TX 78620
      View Details
    • $3,150 /Mo

      Private Office Suite For Rent

      Charming office suite with reception, break room, and flex space.
      275 Frog Pond Ln, Dripping Springs, TX 78620
      View Details
    • $3,800 /Mo

      Dripping Springs Office Suite For Rent

      Private office suite with Hill Country views and RR12 frontage.
      30307 120, 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.
    701 Hwy 290th, Unit 2
    Dripping Springs, TX 78620-5387
    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.