$1,595,000

701 W Us 290 Highway, Dripping Springs, TX

1.39

Acres

Investment / 1031 opportunity - strategically located on US 290, in the heart of Dripping Springs. With an impressive average daily traffic count of over 30,000 vehicles, this property offers immense potential for investors seeking high-traffic exposure. Currently, this immaculate facility runs at 100% occupancy, featuring four reliable tenants at a 6.6% total cap rate on the prevailing lease rates. Built to offer added conveniences, the property offers an 8:1 parking ratio and direct connectivity to both City water and sewer systems. Notably, this building is part of a condominium regime that currently encompasses one building while sharing common facilities with a second structure and, a third building currently in development. With proximity (40-minutes) to Austin and ABIA and a mere 90-minute drive to San Antonio, this property aptly fits into a prime location, primed for immense returns.

Facts & Features

ListingFeed abor_vow
MLS® # 8233549
List Price $1,595,000
Sale Price $1,575,000
Sale Date October 17th, 2023
Bathrooms 0.00
Acres 1.39
Year Built 2010
Type Commercial Sale
Sub-Type Office
Status Closed

Community Information

Address 701 W Us 290 Highway
Subdivision Dripping Spgs Professional Center Condo
City Dripping Springs
County Hays
State TX
Zip Code 78620

Amenities

Utilities Electricity Connected, Sewer Connected, Water Connected
Parking Concrete
Is Waterfront No
Has Pool No

Interior

Interior Concrete
Heating Central
Cooling Central Air
Fireplace No

Exterior

Construction Brick

Additional Information

Foreclosure No
Short Sale No
RE / Bank Owned No

Listing Map

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