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    Unique Commercial Property in Buffalo Gap Title is generated by Realmo AI

    402 North Street, Buffalo Gap, TX 79508

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    Claim this Listing
    For Sale
    $450,000

    Business - Buffalo Gap, TX

    Type:Business
    Lot size:
    0.55 Acres
    Added:
    Apr 20, 2026
    Days on Market:
    34
    Last Refresh:
    May 23 at 5:06 pm

    Property Features for 402 North Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Business
    Parking features
    Driveway, On Street
    Standard status
    Active
    APN
    15848
    Lot size
    0.55 Acres

    Utilities

    Heating system
    Central, Electric (Heating)
    Cooling system
    Ceiling Fan(s), Central Air, Electric

    Building Details

    Year built
    1951
    Flooring type
    Laminate, Wood
    Building materials
    Board & Batten Siding
    Roof type
    Composition
    Architectural style
    Other

    We can help!

    Listing Contact
    Stacy Doby
    Stacy Doby

    Listing agent Stacy Doby License #0679121

    Listing office KW SYNERGY* 1700 Industrial Blvd, ABILENE, TX

    Listing date Apr 20, 2026

    MLS# 21229033 Listing URL

    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.

    HighLights

    • Prime corner lot in historic Buffalo Gap offers unmatched visibility.
    • Main building previously a restaurant, ready for a new venture.
    • Four detached buildings ideal for Airbnb rentals or guest accommodations.
    • Substantial income‑producing potential with short‑term rental expansion.
    • Picturesque, mature trees create an inviting atmosphere.
    • Versatile property suitable for a restaurant/Airbnb, school/venue, or live/work space.

    Overview

    This commercial property is located on a corner lot in the historic area of Buffalo Gap. The main building, formerly a restaurant, offers space for a variety of ventures. There are four additional detached buildings that could be converted into living quarters, Airbnb rentals, or guest accommodations. The property has the potential to expand short-term rental use into the main structure. Mature trees create an inviting atmosphere. The property could be used as a restaurant with Airbnb rentals, a private school, an event venue, a multi-unit income-producing property, or a live-work space. The lot size is 0.553 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Deep'n the Heart Restaurant

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Buffalo Gap
    County
    Taylor
    State
    Texas
    Longitude
    -99.825846
    Latitude
    32.285877

    Nearby Similar for Sale

    • $625,000

      Two-Story Office Building in Texas

      Versatile office building in Buffalo Gap, near Abilene.
      321 N West Street, Buffalo Gap, TX 79508
      View Details
    • $495,000

      Buffalo Gap Hospitality Opportunity

      Restaurant and bungalows with expansion potential in historic Buffalo Gap.
      402 North Street A, Buffalo Gap, TX 79508
      View Details

    FAQs

    What type of property is this?
    Conventional restaurant - Versatile commercial property with income-producing potential in historic Buffalo Gap.
    Where is this conventional restaurant located?
    The property is located at 402 North Street Buffalo Gap, TX.
    What is the asking price?
    The asking price for this property is $450,000.
    What are key features of this property?
    This property features: Prime corner lot in historic Buffalo Gap offers unmatched visibility.; Main building previously a restaurant, ready for a new venture.; Four detached buildings ideal for Airbnb rentals or guest accommodations.
    (325) 692-4488
    We can help!
    Listing Contact
    Stacy Doby
    Stacy Doby
    Real Estate License ID: 0679121
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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.

    More about this property
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