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    Corner Lot Retail or Office Building Title is generated by Realmo AI

    824 Austin Street, Robert Lee, TX 76945

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    For Sale
    $85,000

    COMMERCIAL - Robert Lee, TX

    Type:Retail
    Property size:
    1,000 SF
    Lot size:
    0.16 Acres
    Price / SF:
    $85/SF
    Added:
    Mar 18, 2026
    Days on Market:
    81
    Last Refresh:
    Jun 6 at 9:06 am

    Property Features for 824 Austin Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Parking features
    Parking Lot, On Street
    Standard status
    Active
    APN
    1-10-300000015001300000
    Size
    1,000 SF
    Lot size
    0.16 Acres

    Utilities

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

    Building Details

    Year built
    1960
    Flooring type
    Wood, Carpet
    Building materials
    Frame
    Roof type
    Metal

    We can help!

    Listing Contact
    The Herbert Group

    Listing agent The Herbert Group

    Listing office Keller Williams Synergy 2117 Knickerbocker, Abilene, TX

    Listing date Mar 18, 2026

    MLS# 130314

    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

    • Former church building on a corner lot in Robert Lee, built in 1960
    • Front building offers 1,000 sq ft with large front room, back room, small office, 2 bathrooms, and breakroom
    • Metal storage building at the rear includes 720 sq ft
    • Two lots provide space for customer and employee parking, plus parking lot and on‑street parking
    • Roof is metal; flooring includes wood and carpet
    • Heating includes electric, forced air, and central; cooling includes electric and central air

    Overview

    This corner-lot property was formerly a church and is set up for flexible use as either retail or office space. The front building is approximately 1,000 square feet and includes a large front room, a back room, a small office positioned between the two larger areas, plus two bathrooms and a small breakroom. At the rear of the property, there is also a metal storage building measuring approximately 720 square feet.

    The building sits on two lots, which provides additional space for customer and employee parking. The property is located on Austin Street in Robert Lee, Texas (Coke County), placing it at the center of the community.

    For tenants, buyers, or operators looking for a turnkey space with multiple rooms and built-in back-of-house functionality, the combination of front customer/working areas, private office space, two restrooms, and on-site storage can support a range of small business uses. The two-lot configuration also helps accommodate day-to-day parking needs for employees and visitors. Call for a private showing to review the layout and fit for your use.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel Nail Salon Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Robert Lee
    County
    Coke
    State
    Texas
    Longitude
    -100.484657
    Latitude
    31.894757

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    FAQs

    What type of property is this?
    Retail space - Former church offers flexible retail or office layout with two restrooms, small office, and additional storage.
    Where is this retail space located?
    The property is located at 824 Austin Street Robert Lee, TX.
    What is the asking price?
    The asking price for this property is $85,000.
    What are key features of this property?
    This property features: Former church building on a corner lot in Robert Lee, built in 1960; Front building offers 1,000 sq ft with large front room, back room, small office, 2 bathrooms, and breakroom; Metal storage building at the rear includes 720 sq ft
    (325) 234-2661
    We can help!
    Listing Contact
    The Herbert Group
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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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