217 Southern DR
About This Property
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Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
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Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
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Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Oct 2, 2026 | Price Decreased |
$749,500
↓ $50K
(6.2%) | |
| Price Decreased | |||
| Apr 30, 2026 | Listed by Friedman Real Estate, Inc. | $799,000 | |
| Listed by Friedman Real Estate, Inc. | |||
| Oct 30, 2025 | Listed by Friedman Real Estate, Inc. | $749,500 | |
| Listed by Friedman Real Estate, Inc. | |||
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Sale or Lease. 217 Southern Drive offers a rare owner-user and investment opportunity in a Hill Country market where functional industrial and flex product is in short supply. This is a Johnson City address. Situated just off Highway 290 on ± 2.8 acres of unrestricted land, the property features two insulated metal buildings totaling approximately 6,000 square feet, plus a 16'×40' covered lean-to, office space, power, water, septic, infrastructure to support 3 RV's, and a large, level yard suitable for equipment or fleet parking.
The primary ± 3,600 SF building includes a climate controlled built-out office area with two restrooms, along with a spacious shop bay, mezzanine storage, and existing automotive improvements (including lifts). The secondary ± 2,400 SF building also features a restroom and flexible open-shop configuration ideal for storage, fabrication, or equipment maintenance.
Industrial and contractor space in this corridor has become increasingly scarce as new rooftops, homebuilders, and service-oriented businesses continue expanding west along Highway 290. Companies serving the fast-growing Hill Country market are seeking functional, affordable facilities like this—properties that offer shop, yard, and office space without city restrictions or premium pricing.
Accessible via a 50 yard deeded easement driveway directly off 290, this property is well-suited for field-based and service-oriented users who travel to clients rather than rely on customer traffic. Excellent accessibility, unrestricted zoning, and functional improvements make it a strong fit for contractors, trades, fabrication, or owner-user investors seeking long-term utility and value stability.
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| Apr 8, 2021 | Sold | ||
| Sold | |||
| Mar 11, 2021 | Listed by Topper Real Estate | $599,000 | |
| Listed by Topper Real Estate | |||
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2.79+/- acres Located minutes from Dripping Springs and Johnson City. The property is Unrestricted. Great access off of Hwy 290 and end of Southern Drive. Improvements on site include a 3600 sq ft metal building that includes an office, 2 bathrooms, large storage area loft, car lifts, and many other amenities. This building has been previously used as a diesel automotive repair shop. The second building is a 2400 sq ft metal building with additional 16 x 40 lean to. This building also includes a bathroom. Both buildings are insulated, have power and water, and on concrete slabs. Plenty of room on site to build home or more shops. Located less than an hour from Austin and San Antonio. This property has many potential uses.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017