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    Retail Property with Drive-Thru Title is generated by Realmo AI

    111 S Hickory Street, Ballinger, TX 76821

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    For Sale
    $460,000

    COMMERCIAL - Ballinger, TX

    Type:Retail
    Property size:
    3,000 SF
    Lot size:
    1.65 Acres
    Price / SF:
    $153/SF
    Added:
    Mar 4, 2026
    Days on Market:
    95
    Last Refresh:
    Jun 7 at 2:06 am

    Property Features for 111 S Hickory Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Parking features
    Parking Lot
    Fencing
    Fenced
    Standard status
    Active
    APN
    34900.0020.01400
    Size
    3,000 SF
    Lot size
    1.65 Acres

    Utilities

    Heating system
    Forced Air, Central, Electric (Heating)
    Cooling system
    Central Air, Electric

    Building Details

    Year built
    1995
    Flooring type
    Concrete, Carpet, Tile
    Building materials
    Frame
    Roof type
    Metal, Shingle

    We can help!

    Listing Contact
    Rusty Bartholomeo

    Listing agent Rusty Bartholomeo License #0714849

    Listing office ERA Newlin & Company 1722 W Ave N, SAN ANGELO, TX

    Listing date Mar 4, 2026

    MLS# 130310

    Copyright © 2026 San Angelo Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 3‑bedroom, 2‑bath home on 2 acres in Ballinger, TX
    • Attached liquor store is permitted and includes a drive‑thru
    • Liquor store comes fully stocked
    • Home built in 1995 with frame construction and metal/shingle roofing
    • Central air plus forced‑air central heating; electric heating and electric cooling noted
    • Concrete, carpet, and tile flooring; fenced property with parking lot

    Overview

    This for-sale property combines residential living with an operating retail component. The home offers three bedrooms and two bathrooms, along with a large kitchen and updated baths. Outside, there is a big backyard for everyday use and outdoor space. An attached liquor store is included and is described as fully stocked and permitted, with drive-thru service.

    Located at 111 S Hickory Street in Ballinger, Texas, the property sits on approximately 1.65 acres. The combination of a residence and a drive-thru liquor retail setup supports an owner-operator format and an on-site work-and-live arrangement.

    For entrepreneurs and buyers looking to operate from the same site as their residence, this configuration can simplify logistics by keeping the liquor store and living space together. The drive-thru element is designed to support quick customer access, while the included residential layout provides a complete home base. The size of the lot and the presence of a backyard add flexibility for personal use alongside the attached retail business.
    Location Intelligence

    Current Use by Public Records

    Drug stores

    Map

    City
    Ballinger
    County
    Runnels
    State
    Texas
    Longitude
    -99.959262
    Latitude
    31.721978

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    FAQs

    What type of property is this?
    Drug store - Attached liquor store with drive-thru plus a 3-bedroom, 2-bath home on a sizable lot in Ballinger.
    Where is this drug store located?
    The property is located at 111 S Hickory Street Ballinger, TX.
    What is the asking price?
    The asking price for this property is $460,000.
    What are key features of this property?
    This property features: 3‑bedroom, 2‑bath home on 2 acres in Ballinger, TX; Attached liquor store is permitted and includes a drive‑thru; Liquor store comes fully stocked
    (325) 315-4513
    We can help!
    Listing Contact
    Rusty Bartholomeo
    Real Estate License ID: 0714849
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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