Mixed-Use Property with Residential
For Sale
$350,000
117 Victoria St, Abilene, TX 79603
Three-building package combining a vacant commercial structure with occupied residential units and apartment space.
Property Size1,408 SF
Price / SF$248.58
Days on Market95
Property Features for 117 Victoria St
General Information
Standard status
Active
Size
1,408 SF
Property subtype
Multi-Family
Financials
Asking Price
$350,000
Gross Income
$45,600
Units
Unit Mix
2 x 1BR, 1 x 3BR/1BA
Multifamily Units
3
Additional Details
Road Access
Yes
Building Details
Year Built
1944
Buildings
3
Tenancy
Multi
Listing Agency:
McCullar Properties Group LLC
(325) 665-4037
Listed By:
Josh Rader (325) 665-4037 · License #0661281
Source:
Divinerealtygrp
Added: May 26
Changed: Aug 28
Last Checked: Aug 28 at 8:17PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of McCullar Properties Group LLC
Investment Insights
Based on property information with market context.
This mixed-use offering comprises three buildings across two parcels with a combined property size of 1,408 square feet. The first parcel includes a vacant commercial building with direct N 1st Street frontage, along with an occupied one-bedroom residential unit at the rear. The commercial structure previously supported automotive use and can accommodate continued commercial occupancy or another retail-oriented configuration, subject to applicable requirements.
The neighboring parcel adds a leased three-bedroom, one-bath single-family home with a backyard and a converted detached garage. The garage includes an upstairs one-bedroom apartment and a finished lower-level area used by the tenant. Built in 1944, the package brings together commercial space and multiple residential components at the corner of N 1st Street and Victoria Street in Abilene, Texas.
The neighboring parcel adds a leased three-bedroom, one-bath single-family home with a backyard and a converted detached garage. The garage includes an upstairs one-bedroom apartment and a finished lower-level area used by the tenant. Built in 1944, the package brings together commercial space and multiple residential components at the corner of N 1st Street and Victoria Street in Abilene, Texas.
Key Highlights
- Three‑building, two‑parcel mixed‑use package
- 1,408 square feet across the property
- Vacant commercial building with direct N 1st Street frontage
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
$14,414
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
4.12%
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%
$288,280
$288.3K
Cap Rate 7%
$205,914
$205.9K
Cap Rate 9%
$160,156
$160.2K
Market Conditions
NOI Build-Up for 1,408 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
$25.3K $18.00/SF
− Vacancy
−$2.3K −$1.62/SF
EGI
$23.1K $16.38/SF
− OpEx
−$8.6K −$6.14/SF
NOI
$14.4K $10.24/SF
Area
Abilene, TX
Vacancy
9.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$288,280
Cap Rate 7%
$205,914
Cap Rate 9%
$160,156
Alternative Uses
Best Use
Mixed Use
$205.9K
$180.2K – $240.2K
NOI $14,414 @ 7.0% cap · market cap 4.12%
Second Best
Retail
$171.0K
$149.6K – $199.5K
NOI $11,969 @ 7.0% cap · market cap 3.42%
Theoretical Best
Office A
$314.4K
$275.1K – $366.8K
NOI $22,005 @ 7.0% cap · market cap 6.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
942
Businesses Nearby
Explore this area
Business Placement
Demographics for 79603, TX
23,746
Population
9,960
Households
2.4
Avg Household Size
35
Median Age
17%
College-Educated
83%
High-School Grad
59.2 sq mi
ZIP Area
401
Density / Sq Mi
$53,579
Median Household Income
$32,339
Median Earnings
$1,022
Median Rent
$114,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-building package combining a vacant commercial structure with occupied residential units and apartment space.
Where is this mixed-use property located?
The property is located at 117 Victoria St Abilene, TX.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Three‑building, two‑parcel mixed‑use package; 1,408 square feet across the property; Vacant commercial building with direct N 1st Street frontage
