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Hospitality + Food & Beverage Opportunity 5508 W Highway 290
8 Room Hotel Dripping Springs, TX 78620 $6,995,000 ($874,375/Room)
Investment Highlights
- Future development opportunity on Hwy 290 frontage down below (~380 feet)
- Ultimate flexibility: can be used for Residential or Commercial (Unrestricted)
- No permits required for development & infrastructure already in place
- 30 Min to Austin (and expected to be even less once the y-over project at Oak Hill “Y” is completed)
- Outside ETJ
- Wildlife tax exemption
Executive Summary
- Location: Dripping Springs, Texas
- Size: 22.6 Acres (per tax record)
- Current Use: Income-Producing Lodge (with casitas and venue)
- Potential Uses: Hospitality, Food & Beverage, Event Venue, Private Residence or Development Opportunity
Property Facts
| Price | $6,995,000 | Lot Size | 22.00 AC |
| Price Per Room | $874,375 | Building Size | 6,000 SF |
| Sale Type | Investment | No. Rooms | 8 |
| Sale Conditions | Business Value Included | No. Stories | 1 |
| Property Type | Hospitality | Year Built | 2015 |
| Property Subtype | Hotel | Parking Ratio | 1.33/1,000 SF |
| Building Class | B | Corridor | Exterior |
| Price | $6,995,000 |
| Price Per Room | $874,375 |
| Sale Type | Investment |
| Sale Conditions | Business Value Included |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 22.00 AC |
| Building Size | 6,000 SF |
| No. Rooms | 8 |
| No. Stories | 1 |
| Year Built | 2015 |
| Parking Ratio | 1.33/1,000 SF |
| Corridor | Exterior |
Amenities
- Pool
- High Speed Internet Access
- Patio
- Boutique/Lifestyle Hotel
- Meeting Event Space
- Wedding Venue
- Public Access Wifi
- Multi-Room Suites
About 5508 W Highway 290 , Dripping Springs, TX 78620
Situated on 22.6 unrestricted acres, the property can be utilized as a private residence, retreat space, wedding + event venue, wellness center & spa, boutique hotel winery, restaurant or development. With roughly 380 feet of HWY 290 frontage ready for a restaurant, winery, tasting room or your dream concept! The property is currently a vibrant retreat lodge (with casitas and venue), in what is known by Texas Monthly, as the Wedding Capital of Texas. The as-of-yet undeveloped commercial section of the property, (roughly 380 feet on scenic and winding highway 290 frontage), adds imaginative options for an investor. Unique amenities include a 6,000 sq ft open air flex space used for larger events, gatherings or helicopter pad. Additionally there is a 30,000 gallon rainwater cistern with a backup well, (easily transition-able for an off-grid property), horse trails, a commercial septic, a covered outdoor catering space and a canyon and ravine, ideal for restorative exploring and hiking and further development. Parking currently accommodates 100 vehicles. The property enjoys a wildlife exemption for tax purposes (which took 6years to obtain).
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 2 | $437.00 | - |
| Guest Room | 6 | $375.00 | - |
-
Bryan Cady -
DEN Property Group
Presented by
Hospitality + Food & Beverage Opportunity | 5508 W Highway 290
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