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Prime opportunity just one minute from downtown Dripping Springs with high-visibility FM 150 frontage in the heart of one of Central Texas’ most dynamic growth corridors. Positioned on 2 level, usable acres with city water and an oversized septic system in place, this property offers the infrastructure and exposure ideal for immediate hospitality, event, office, or mixed-use commercial conversion. Previously operated as a successful bed and breakfast and event venue, the site is already optimized for income-producing operations. Its flexible configuration supports a wide range of concepts including a wedding/event venue, corporate retreat center, wellness facility, restaurant or cafe, boutique lodging, professional office suites with shared conference space, creative studio collective, or live/work development. Mature trees, multiple patios, and garden areas create natural settings for outdoor ceremonies, patio dining, event installations, and expanded gathering areas, while strong FM 150 traffic exposure and public road access enhance long-term visibility. With ample room for potential parking expansion, the site offers rare turnkey potential within the booming Driftwood/Dripping Springs corridor. The estate includes two substantial structures approximately 6,000+ sq ft: fully renovated 4 bedroom, 4 bath main building and converted historic barn guest hall featuring 3 bedrooms, 3 full baths, separate kitchen and living area, and expansive central hall designed for receptions, conferences, dining service, or large-scale gatherings. Each of the seven bedrooms includes a private full bath, allowing seamless conversion to executive offices, private therapy suites, short-term rental accommodations, or boutique hospitality units. *Buyer and Buyer's Agent are responsible for conducting all due diligence and verifying all information, including but not limited to: property condition, zoning, permits, taxes, capacity regulations, utility access and square footage.*
Property Type
Residential
Year Built
1922
Lot Size
2.00 acres
$/Sq Ft
$605
Garage
6 spaces
Listed by Coffman Real Estate
Verified property facts
23351 FM 150 is listed at $1,599,900 with 7 bedrooms, 7 full, 2 half bathrooms, 2,644 square feet, 2.00-acre lot. This places it above the 78619 median of $925,000.
23351 FM 150 is zoned for Dripping Springs ISD with assigned schools: Walnut Springs (7/10) (elementary), Dripping Springs Middle (middle), Dripping Springs (8/10) (high). School assignments should be verified directly with the district.
23351 FM 150 is a Residential built in 1922 featuring 7 bedrooms, 7 full, 2 half bathrooms, 2,644 square feet, 2.00-acre lot.
23351 FM 150 is presented by the Keenan Group at Compass Real Estate, the #1 Austin Board of Realtors Team (2024) with 1,000+ career transactions and $1B+ in career volume across Austin's luxury market.
With 20% down ($319,980) on a 30-year fixed mortgage at approximately 6.75%, the estimated monthly payment for 23351 FM 150 is around $11,235 including principal, interest, and estimated taxes. Actual payment varies by rate, down payment, insurance, and HOA fees.
#1 Austin Board of Realtors Team. Over 1,000 successful transactions with high-end expertise.
25+ years advising buyers and sellers in this community
Property Details
Features
Appliances
Flooring
Features
Construction
Lot Features
Fencing
Foundation
Patio / Porch
Parking
Waterfront
Listing timeline with current price, original ask, and market time.

Zoned assignments come from the property school fields available to us. District context schools are shown only when an assigned tier is missing. Contact the school district directly to verify current boundaries and enrollment eligibility. Ratings from GreatSchools.org.
20% ($320K)
$1,599,900
Luxury property intelligence
A sourced read on Howard Subdivison pricing, timing, and property scale. No automated valuation claim.
List price
$1,599,900
Price per sqft
$605/sqft
Vs. Howard Subdivison median
Not available
Days on market
93 days
Original to current
No verified reduction
$1.6M original
Active inventory context
Ask for current inventory
Source: MLS Grid / Unlock MLS and Keenan Group review as of May 31, 2026.
Request Private Market AnalysisZIP-level neighborhoods, schools, lifestyle, and Austin market context
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#1 ABOR Team 2024 with $1B+ career sales volume
At $1,599,900, 23351 FM 150 is in the Howard Subdivison market where there are currently 45 active listings in 78619.
23351 FM 150 was built in 1922 (104 years ago). Buyers should budget for potential updates to major systems.
23351 FM 150 includes verified waterfront access: None. Buyers should confirm shoreline, dock rights, and floodplain status during due diligence.
Answers use visible listing facts, school context, and neighborhood data available on this page. Verify time-sensitive details before making decisions.
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