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    7394 Creek Rd Dripping Springs, TX 78620
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    7394 Creek Rd Dripping Springs, TX 78620

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    • Recreation land
    For Sale
    $2,849,999
    View Listing →
    Field of Dreams Adjacent Land For Sale
    $2,849,999
    23.00 Acres

    Field of Dreams Adjacent Land

    23+ acre property near Field of Dreams in Henly, TX.

    7394 Creek RD, Dripping Springs, TX 78620
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    Property ID
    US83-1714192
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Recreation land

    Property Details for 7394 Creek Rd

    Property type
    Recreation land
    Property subtype
    Agricultural land / Farmland

    Description

    if You Build It, They Will Come - This 23+ Acre Property Adjacent and Just East of the Field of Dreams (Tfod) in Henly, Tx, Would Be an Ideal Location to Serve the Needs of the Hundreds of Patrons Who Regularly Attend Tournaments and Events at Tfod. With a Current Ag Exemption in Place, Save on Taxes as You Build Out Your Dream Compound to Serve the Varied Needs of Sports Fans Coming to Tfod, and the Many Needs of Nearby Wedding and Event Venues. Ideally Located in Henly, Tx, and Just a Stone's Throw From 290, This Burgeoning Community is in Dire Need of Nearby Restaurants (Add a Full Restaurant, Food Trucks, a Brewery/winery Tasting Room); Weekend Places to Stay (Think Tiny Homes, Luxury Container Homes, Rv Parking Pads, Small Timber Homes), and Activities During the Typical Breaks Between Tournament Play (Think Climbing Wall, a Pool, Batting Cages, Putt-putt Golf Course, Skills Competition). the Possibilities Are Truly Endless. the Existing Barndominium Serves as the Owner's Current Residence and Could Serve as the Community Center for an Entirely New Community to Serve the Needs of Those Coming to This Mirage in the Texas Hill Country. Schedule Your Tour Today and Get Ready to Imagine Something Spectacular in Your Future!

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Dripping Springs
    County
    Hays
    State
    Texas
    Longitude
    -98.208686
    Latitude
    30.1879847

    Comparable in this City

    • Contact for pricing

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      Equestrian Retreat on 23 Acres

      23+ acre equestrian property with cabin near Dripping Springs.
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    • $3,750,000
      100.01 Acres

      Dripping Springs Ranch Land Opportunity

      100-acre ranch near Dripping Springs with panoramic views.
      Tbd -- Bell Spg Rd, Dripping Springs, TX 78620
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Dripping Springs Ranch with Airport

      Large ranch near Austin with diverse terrain and private airport.
      7040 W Fitzhugh Rd, Dripping Springs, TX 78620
      View Details
    • Contact for pricing
      500 SF

      Equestrian Retreat on 23 Acres

      23+ acre equestrian property with cabin near Dripping Springs.
      1750 Loop 165, Dripping Springs, TX 78620
      View Details
    • $3,750,000
      100.01 Acres

      Dripping Springs Ranch Land Opportunity

      100-acre ranch near Dripping Springs with panoramic views.
      Tbd -- Bell Spg Rd, Dripping Springs, TX 78620
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Office and Yard Space Available

      Office and yard space for lease on Ranch Road 12.
      30303 Ranch Road 12, Dripping Springs, TX 78620
      View Details
    • Contact for pricing

      Commercial Space Available For Lease

      Commercial property available for lease in Dripping Springs, Texas.
      1032 Canyon Bend Dr, Dripping Springs, TX 78620
      View Details
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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.

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    7394 Creek Rd, Dripping Springs, TX, 78620
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