Date
Details
Price
Change
Source
7/22/2026
Listed
$2,200,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
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$2,200,000
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Property Description
NO ZONING RESTRICTIONS. INVESTMENT/BUILDER OPPORTUNITY MAGICAL PROPERTY WITH BREATHTAKING CANYON VIEWS AND STUNNING WET WEATHER CREEK Escape the ordinary and enter a realm of enchantment at 502 Grace Lane. Nestled in the Eanes Independent School District, this sprawling property boasts breathtaking canyon views and ancient forests. The possibilities are endless. The property itself is a wonderland. A comfortable 2500 sq ft main house offers a perfect sanctuary, while a charming duplex and a quaint guest house provide additional space or income potential. Cascading tiers lead down to a mesmerizing creek, all encompassed by pristine woodlands. This legal tract is a blank canvas for your vision. Whether you seek to utilize the buildings for commercial, a sprawling estate, a community haven, or a source of income, the choice is yours. Since the 1970s, the property has enjoyed freedom from zoning restrictions, empowering you to shape its destiny. Multiple electric meters, a deep well, and propane tanks ensure convenience and self-sufficiency. Three structures totaling approx 5000 sq ft await your arrival. 2500 sq ft home, 2 bed 1 bath duplex 1500 sq ft. and 589 sq ft guest house.
Full Property Details
Full Property Details for 502 Gracelane Ln
General
- Price: $2,200,000
- Taxes: (2025)
- Status: Active
- Type: Commercial
- Source: Austin_MLS
- MLS ID: 4212388
- Updated: 7/22/2026
- Added to Site: 45 day(s) ago
Rental Information
- Lease Info: See Remarks
Interior
- Flooring: See Remarks
Additional Information
- Security/Safety: None
Parking
- Garage: Yes
- Carports: Yes
- Total Spaces: 12
- Parking Features: Detached Carport, Garage
Location
- Area: 8W
- County: Travis
- Subdivision: Rob Roy West
- Driving Directions: Bee Caves Rd Turn on Grace Lane. Vier to the Right on the road.
Heating & Cooling
- Central air: Yes
- Air Conditioning: Yes
- Cooling Type: Central Air
- Heating Type: Central
Utilities
- Sewer: Septic Tank
- Water: See Remarks, Well
- Well: Yes
- Utility Description: Electricity Connected, Natural Gas Available, See Remarks
Structural Information
- # Buildings: 3
- Detached/Attached: Detached
- Construction: See Remarks
- Square Feet: 5,000
- Sq. Ft. Source: Public Records
- Current Bldg. Use: Multi-Family, Mixed Use, Single Family, See Remarks
- Year Built: 1978
- Year Built Source: Public Records
- Property Condition: See Remarks
Additional Structures
- Other Structures: Guest House, Second Residence, Residence
Lot Features
- Property View: Park/Greenbelt, Hills, Creek/Stream, Trees/Woods
- Lot Size (Acres): 3.74
- Lot Size (Sq. Ft.): 162,914.4
Financial Considerations
- Operating Expenses: $10,000
- Assessment Amount: $1,043,307
- Tax Year: 2025
- Terms: Cash, Conventional, FHA, VA Loan
Disclosures and Reports
- Special Conditions: Standard
- Documents Avail.: Survey, Topographical Survey
- Legal Description: IMPS ONLY ABS 734 SUR 499 SERGEANT W ACR 3.752
- Disclosures/Reports: Lead Based Paint Disclosure, Seller Disclosure, See Remarks
- Property ID: 534871
- Lot Number: IMPS ONLY ABS 734 SUR 499
Listed by Christies Intl Real Estate Lone Star
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Listing agents
— 502 Gracelane Ln —
Christies Intl Real Estate Lone Star
Christies Intl Real Estate Lone Star
(512) 270-8586
NMLS#: 1598647Get Pre-Approved Today
Schools
Schools serving 502 Gracelane Ln
School District:Eanes Independent School District
| Name | Grades | Distance |
|---|---|---|
Forest Trail Elementary School 1203 Loop 360 S, Austin, TX 78746 | K-5 | 3.2 mi |
West Ridge Middle School 9201 Scenic Bluff Drive, Austin, TX 78733 | 6-8 | 1.6 mi |
Westlake High School 4100 Westbank Drive, Austin, TX 78746 | 9-12 | 3.7 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 502 Gracelane Ln
Tax History
Tax History for 502 Gracelane Ln
Year
Property Taxes
Change
Tax Assessment
Change
2025
$2,090
-29%
$146,536
-29%
2024
$2,957
100%
$205,646
100%
2021
100%
-100%
2021
-100%
$104,823
-18%
2020
$2,182
—
$128,270
—
2020
$2,187
-3%
$128,270
—
2018
$2,257
32%
$128,270
36%
2016
$1,704
—
$94,307
—
2017
$1,704
-17%
$94,307
-15%
2015
$2,056
23%
$111,312
—
2013
$1,665
-23%
$111,312
29%
2014
$2,155
—
$85,991
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 502 Gracelane Ln
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- Commercial Lease
- Active
- Updated 1 day ago
- 17,968Sq. Ft.
- Single Family
- Active
- Updated 3 days ago
- 3Beds
- 4Total Baths
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- Single Family
- Active
- Updated 3 days ago
- 5Beds
- 6Total Baths
502 Gracelane Lane, Austin, TX 78746 (MLS# 4212388) is a Commercial property. 502 Gracelane Lane is currently listed for $2,200,000 and was received on July 22, 2026. Want to learn more about 502 Gracelane Lane? Do you have questions about finding other Commercial real estate for sale in Austin? You can browse all Austin real estate or contact a Coldwell Banker agent to request more information.