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400 Old Highway 290 22.7 Acres of Commercial Land Offered at $13,900,000 in Dripping Springs, TX 78620
INVESTMENT HIGHLIGHTS
- 22.7 acres very centrally located in Dripping Springs, TX, directly across from the high school.
- 63 LUEs allotted when city sewer reaches property, with the possibility of 30 add'l LUEs. Facility currently on septic. City water to property.
- Gorgeous well built assisted living / medical / office/school 16006 SF facility vacant, plus a leased 2054 SF house and metal building,
- Approximately 2700' of frontage! Roger Hanks Pkwy and Old Hwy 290
- Roger Hanks Pkwy now connects RR 12 to U.S. 290 - significant traffic count along the 2700' frontage
- Dripping Springs is BOOMING and just on the outskirts of Austin.
EXECUTIVE SUMMARY
There is a gorgeous 16,006 SF facility which was recently vacated by a private school. The facility was formerly used as a memory care center. It could be used for assisted living, memory care, rehab, mini-hospital, office, wellness center, lab, or other. This facility has 17 rooms, 22 bathrooms (including 4 showers), a large dining room and kitchen, a large fitness room, plus many meeting rooms, waiting rooms, offices, and courtyards. This beautiful acreage is home to deer and other wildlife right in the heart of booming Dripping Springs, near Austin. The seller maintains a wildlife tax exemption. The property is zoned commercial and could potentially be used for multi-family. This property also includes a 2054 SF house, which is leased to a private school, and a large metal building with an office.
This property is optimally located with 22.7 acres and approximately 2,700' of frontage in very central Dripping Springs. The seller was once approached to build-to-suit a physical rehab center along Roger Hanks by a popular hospital. This could be a winning option for a section of the frontage, but many options are possible. Broker/Owner David Foster 512-751-1100
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER AC |
|---|---|---|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
PROPERTY FACTS Under Contract
| Price | $13,900,000 | Property Subtype | Commercial |
| Sale Type | Investment | Proposed Use | |
| No. Lots | 1 | Total Lot Size | 22.70 AC |
| Property Type | Land | No. Stories | 1 |
| Zoning | Commercial | ||
| Price | $13,900,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | |
| Total Lot Size | 22.70 AC |
| No. Stories | 1 |
| Zoning | Commercial |
1 LOT AVAILABLE
Lot
| Price | $13,900,000 | Lot Size | 22.70 AC |
| Price Per AC | $612,334.80 |
| Price | $13,900,000 |
| Price Per AC | $612,334.80 |
| Lot Size | 22.70 AC |
22.7 acres. Hays County Property ID R99966 & R99956. Directly across from Dripping Springs High School. Extensive frontage, approximately 2700'. See the survey attached. Prime development property, given the location, frontage, and terrain.
DESCRIPTION
22.7 acres directly across from Dripping Springs High School, with an incredible approximate 2,700' combined frontage 1) on the new Roger Hanks Parkway extension linking busy RR 12 to bustling Hwy 290, and 2) along Old U.S. 290. There is a gorgeous 16,006 SF facility which is newly vacated by a private school. The facility was formerly used as a memory care center. It could be used for assisted living, memory care, rehab, mini-hospital, office, wellness center, or other. This facility has 17 rooms, 22 bathrooms (including 4 showers), a large dining room and kitchen, a large fitness room, plus many meeting rooms, waiting rooms, offices, and courtyards. This beautiful acreage is home to deer and other wildlife right in the heart of booming Dripping Springs, near Austin. The seller maintains a wildlife tax exemption. The property is zoned commercial and could potentially be used as multi-family. This property also includes a 2054 SF house, which is leased to a private school, and a large metal building with an office. There is city water on the property. The facility and house are on septic. The property has assignments from the city of 63 LUEs, with a potential of 30+ additional LUEs, once the city sewer reaches it. This property is optimally located with 22.7 acres and approximately 2,700' of frontage in very central Dripping Springs. The seller was once approached to build-to-suit a physical rehab center along Roger Hanks by a popular hospital. This could be a winning option for a section of the frontage, but many options are possible. Broker/Owner David Foster 512-751-1100
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $1,814,160 (2025) | |
| Land Assessment | $0 (2025) | Annual Taxes | ($1) |
| Improvements Assessment | $0 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Presented by
David Foster
400 Old Highway 290
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