Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1506 W Park Ave Hereford, TX 79045

    Sponsored
    For Sale
    $179,900

    COMMERCIAL - Hereford, TX

    Property size:
    3,718 SF
    Lot size:
    0.61 Acres
    Days on Market:
    7
    Last Refresh:
    Mar 2 at 11:06 pm

    Property Features for 1506 W Park Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    Livestock Health Products of Texas
    Parking features
    Parking Lot
    Size
    3,718 SF
    Lot size
    0.61 Acres

    Utilities

    Cooling system
    Electric, Central Air

    Building Details

    Year built
    1973
    Flooring type
    Tile
    Building materials
    Metal Fab
    Roof type
    Metal

    We can help!

    Listing Contact
    Charlie Kerr

    Charlie Kerr Realtor Inc. (806) 364-2045

    Listing agent Charlie Kerr

    Listing date Feb 25, 2026

    MLS# 26-1716

    Copyright © 2026 Amarillo 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.

    Learn more

    Property Insight Report

    Overview

    Hereford Commercial Building For Sale

    This commercial building, constructed in 1973, was previously used as a veterinary consulting facility. The building features a metal panel exterior over a steel frame, a metal roof, and a concrete slab foundation. The interior is finished to accommodate office, retail, and lab functions. Interior partitions are constructed of drywall with wood paneling, and the flooring consists of carpet and vinyl tile. Acoustic grid ceilings with fluorescent lighting are installed throughout. The layout includes three private offices, a retail counter area with permanent cubicles, two restrooms, and a break room. A walk-in cooler and display doors are located in the front area of the building. The lab/clean room space is finished with polished concrete floors and steel panel walls and ceiling. The shop space includes two walk-in doors and one roll-up overhead door. The property is zoned C-1, Commercial Retail District, and is situated on a 0.61-acre lot at a high-traffic corner. The building's size is 3718 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hereford
    County
    Deaf Smith
    State
    Texas
    Longitude
    -102.422976
    Latitude
    34.822743

    Nearby Similar for Sale

    • $600,000
      5,800 SF

      Hereford Commercial Retail Opportunity

      Downtown commercial property with retail zoning and redevelopment potential.
      601 Main St, Hereford, TX 79045
      View Details
    • New
      $469,000
      4,461 SF

      Commercial Opportunity in Hereford, TX

      Highway 60 commercial property suitable for business growth.
      621 E 1St St, Hereford, TX 79045
      View Details
    • $700,000
      10,320 SF

      Hereford Commercial Office/Warehouse for Trucks

      Commercial office/warehouse on 2.9 acres, ideal for semi-trucks.
      109 Pine St, Hereford, TX 79084
      View Details
    • New
      $350,000
      7,388 SF

      Hereford Commercial Property For Sale

      Prime commercial property with excellent access and visibility in Hereford.
      120 Witherspoon Ave, Hereford, TX 79045
      View Details
    • $399,000
      4,884 SF

      Hereford, TX Commercial Property

      Commercial property with potential as event venue or restaurant.
      344 E 3Rd St, Hereford, TX 79045
      View Details
    • $329,900
      2,539 SF

      Updated Duplex in Hereford, TX

      Updated duplex with new electrical, plumbing, and modern finishes.
      501 N Irving St, Hereford, TX 79045
      View Details
    • $160,000
      1,248 SF

      Turn-Key Duplex in Hereford, TX

      Updated duplex generating immediate cash flow in Hereford, Texas.
      400 Blevins St, Hereford, TX 79045
      View Details
    • $1,100,000

      Hereford Multifamily Investment Opportunity

      Eight-unit multifamily property in Hereford, Texas, fully leased.
      1107 Caprock St, Hereford, TX 79045
      View Details
    • $530,000
      3,792 SF

      New Multifamily Investment Opportunity

      New construction multifamily property in Hereford, Texas, featuring four units.
      423 Avenue F, Hereford, TX 79045
      View Details
    • $2,150,000
      48,835 SF

      Retail Building in Hereford Area

      50,835 SF retail building with high visibility and occupancy.
      515 N 25 Mile Ave, Hereford, TX 79045
      View Details
    • Contact for pricing
      7,655 SF

      Retail Property in Hereford, TX

      Corporately guaranteed NNN Aaron’s in Hereford, TX for sale.
      334 N 25 Mile Ave, Hereford, TX 79045
      View Details
    • $480,000
      4,461 SF

      Hereford Commercial Building - Prime Location

      High-traffic area, excellent investment opportunity.
      621 1St St, Hereford, TX 79045
      View Details

    FAQs

    What type of property is this?
    Office space - Versatile commercial building with office, retail, and lab space.
    Where is this office space located?
    The property is located at 1506 W Park Ave Hereford, TX.
    What is the asking price?
    The asking price for this property is $179,900.
    What are key features of this property?
    This property features: - High traffic corner location ideal for retail or commercial business; - Zoned C-1, Commercial Retail District, allowing for a variety of business uses; - Versatile space finished for office, retail, lab, and shop use
    (806) 364-2045
    Request Owner's contact information
    1506 W Park Ave Hereford, TX 79045
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1506 W Park Ave
    Hereford, TX 79045
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    1506 W Park Ave Hereford, TX 79045
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Charlie Kerr
    (806) 364-2045
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!