Remodeled Medical Office
For Sale
$429,000
1311 Hickory Street, Abilene, TX 79601
COMMERCIAL - Abilene, TX
Property Size2,000 SF
Lot Size0.11 Acres
Price / SF$214.50
Days on Market25
Property Features for 1311 Hickory Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Office
Parking features
On Street, Alley
Subdivision
Ot Abilene
Directions
1311 Hickory Street
Standard status
Active
APN
20711
Lot size
0.11 Acres
Taxes and HOA fees
Tax Description
N35FT S 110 W140 202 W1-3 2 OT ABL
Tax Annual Amount
2835
Legal Description
N35FT S 110 W140 202 W1-3 2 OT ABL
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1956
Floors in Building
1
Number of units
1
Flooring type
Vinyl
Building materials
Concrete
Roof type
Asphalt
Listing Agency:
Barnett & Hill
(325) 677-3500
Listed By:
Timothy Smith · License #0689037
(325) 677-3500
Added: Jul 30
Changed: Aug 19
Last Checked: Aug 23 at 4:06PM
MLS# 21327910
Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This approximately 2,000-square-foot medical office property was built in 1956 and recently remodeled with LVT flooring, fresh paint, updated light fixtures, new plumbing and electrical systems, and brand-new HVAC. The interior includes six private offices, two restrooms, a spacious lobby or reception area, storage, and a front-to-back corridor with multiple entry points. Concrete construction, vinyl flooring, central heating, and central air complement the functional layout.
The property is located at 1311 Hickory Street in Abilene, near Hendrick Medical Center and the Abilene North medical district. Parking is available at the front and rear, with additional on-street and alley parking features. The building is served by public water and public sewer and sits on approximately 0.112 acres.
The property is located at 1311 Hickory Street in Abilene, near Hendrick Medical Center and the Abilene North medical district. Parking is available at the front and rear, with additional on-street and alley parking features. The building is served by public water and public sewer and sits on approximately 0.112 acres.
Key Highlights
- Approximately 2,000 square feet with six private offices and two restrooms
- Recent updates include LVT flooring, paint, lighting, plumbing, electrical, and HVAC
- Front‑to‑back interior corridor provides multiple entry points, storage, and shelving space
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$22,889
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.34%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$457,780
$457.8K
Cap Rate 7%
$326,986
$327.0K
Cap Rate 9%
$254,322
$254.3K
Market Conditions
NOI Build-Up for 2,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$40.8K $20.40/SF
− Vacancy
−$2.7K −$1.33/SF
EGI
$38.1K $19.07/SF
− OpEx
−$15.3K −$7.63/SF
NOI
$22.9K $11.44/SF
Area
Abilene, TX
Vacancy
6.50%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$457,780
Cap Rate 7%
$326,986
Cap Rate 9%
$254,322
Alternative Uses
Best Use
Healthcare Medical
$327.0K
$286.1K – $381.5K
NOI $22,889 @ 7.0% cap · market cap 5.34%
Second Best
Office B
$316.9K
$277.3K – $369.8K
NOI $22,185 @ 7.0% cap · market cap 5.17%
Theoretical Best
Office A
$446.5K
$390.7K – $521.0K
NOI $31,258 @ 7.0% cap · market cap 7.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,021
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 79601, TX
26,515
Population
9,422
Households
2.8
Avg Household Size
32
Median Age
21%
College-Educated
84%
High-School Grad
263.0 sq mi
ZIP Area
101
Density / Sq Mi
$54,515
Median Household Income
$24,704
Median Earnings
$988
Median Rent
$182,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Six private offices, two restrooms, and a central corridor create a practical professional layout near Abilene’s medical district.
Where is this medical office space located?
The property is located at 1311 Hickory Street Abilene, TX.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: Approximately 2,000 square feet with six private offices and two restrooms; Recent updates include LVT flooring, paint, lighting, plumbing, electrical, and HVAC; Front‑to‑back interior corridor provides multiple entry points, storage, and shelving space
