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29035 RR12 Ranch Rd. 12 2,429 SF Retail Building Dripping Springs, TX 78620 $2,350,000 ($967.48/SF) 5.10% Cap Rate
Investment Highlights
- Long term tenant in place - through 2033
- One mile to downtown Dripping Springs, 20 minutes to Bee Cave, with quick access to US Hwy 290 W, Ben White / Hwy 71
- Great outdoor space - multiple hundred-year-old oak trees on site
- Ample parking – 84+ spaces
Executive Summary
Prime investment property. 1.58 level AC with heritage oaks. Full 51% cocktail bar with long term tenant in place.
Property Facts
Sale Type
Investment NNN
Property Type
Building Size
2,429 SF
Building Class
C
Year Built/Renovated
2021/2023
Price
$2,350,000
Price Per SF
$967.48
Cap Rate
5.10%
NOI
$119,850
Tenancy
Single
Building Height
1 Story
Building FAR
0.04
Lot Size
1.57 AC
Parking
84 Spaces (34.58 Spaces per 1,000 SF Leased)
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- FairLane: Cocktails and Coffee
- Accommodation and Food Services
- 2,429 SF
- -
- Triple Net
- Jan 2033
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| FairLane: Cocktails and Coffee | Accommodation and Food Services | 2,429 SF | - | Triple Net | Jan 2033 |
Property Taxes
| Parcel Number | R167045 | Improvements Assessment | $131,708 |
| Land Assessment | $759,450 | Total Assessment | $891,158 |
Property Taxes
Parcel Number
R167045
Land Assessment
$759,450
Improvements Assessment
$131,708
Total Assessment
$891,158
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29035 RR12 Ranch Rd. 12
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