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    Corner Retail Building with Parking Title is generated by Realmo AI

    1241 N 3rd Street, Abilene, TX 79601

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    Single-story corner retail property with off-street parking and curb-cuts that may support drive-through use.

    Type:Retail
    Property size:
    2,400 SF
    Price / SF:
    $416/SF
    Added:
    Jun 3, 2026
    Days on Market:
    4
    Last Refresh:
    Jun 6 at 2:22 am

    Property Features for 1241 N 3rd Street

    General Information

    Standard status
    Active
    Size
    2,400 SF
    Property subtype
    Retail

    Building Details

    Year Built
    1960

    We can help!

    Listing Contact
    CJ Chaney

    Listing agent CJ Chaney License #0588387

    Listing office Coldwell Banker Commercial Apex, REALTORS

    Listing date Jun 3, 2026

    Source Crexi

    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 Coldwell Banker Commercial Apex, REALTORS

    HighLights

    • Single‑story retail corner property built in 1960 in downtown Abilene
    • Off‑street parking on site
    • Existing curb‑cuts on Hickory and N. 3rd may support drive‑through use
    • Corner location with potential for drive‑through configuration and retail repurposing

    Overview

    This for-sale single-story corner retail building offers a street-facing storefront setup with existing curb-cuts on Hickory and N. 3rd that may allow for drive-through style service. The current structure can be repurposed for a retail store, or redeveloped to fit a buyer’s specific needs, depending on desired site and building improvements.

    The property is located in downtown Abilene at 1241 N 3rd Street and sits on a corner with access options coming from both N. 3rd and Hickory. Off-street parking is available on site, which can support customer convenience for retail use.

    For buyers and tenants seeking a downtown retail location, the layout and corner exposure provide flexibility for retail operations. The presence of existing curb-cuts also gives options to explore drive-through or expanded customer access, while the ability to repurpose or redevelop supports a range of retail concepts within the existing corner retail framework.
    Location Intelligence

    Current Use by Public Records

    A-1 Vacuum Home Appliance Store

    Suggested Use

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

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

    Similar Places Nearby

    • Floral Studio Event Design Boutique — 357 Walnut St, Abilene, TX 79601
    • Team Flores — 200 Kirkwood St, Abilene, TX 79603
    • Philpott Florist & Greenhouses — 1902 n 1st st, abilene, tx 79603
    • The Florist on Hickory Street — 931 Hickory St, Abilene, TX 79601

    Location Insight

    • Map
    • Local Demand
    City
    Abilene
    County
    Taylor
    State
    Texas
    Longitude
    -99.7363668
    Latitude
    32.4516515

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    FAQs

    What type of property is this?
    Storefront property - Single-story corner retail property with off-street parking and curb-cuts that may support drive-through use.
    Where is this storefront property located?
    The property is located at 1241 N 3rd Street Abilene, TX.
    What is the asking price?
    The asking price for this property is $1,000,000.
    What are key features of this property?
    This property features: Single‑story retail corner property built in 1960 in downtown Abilene; Off‑street parking on site; Existing curb‑cuts on Hickory and N. 3rd may support drive‑through use
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    CJ Chaney
    Real Estate License ID: 0588387
    Learn More
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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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    1241 N 3rd Street, Abilene, TX 79601
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