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    Corner Retail Building with Drive-Through Title is generated by Realmo AI

    1241 N 3rd Street, Abilene, TX 79601

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    Claim this Listing
    New
    For Sale
    $1,000,000

    SINGLE_FAMILY - Abilene, TX

    Type:Retail
    Lot size:
    0.16 Acres
    Added:
    Jun 2, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 4 at 4:06 pm

    Property Features for 1241 N 3rd Street

    General Information

    Property type
    Residential
    Property subtype
    Retail
    Parking features
    Parking Lot, On Street
    Standard status
    Active
    APN
    14081
    Lot size
    0.16 Acres

    Taxes and HOA fees

    Tax Description
    OT ABILENE TIF #1, BLOCK 24, LOT W70'LTS 11 &
    Tax Annual Amount
    1984

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas
    Cooling system
    Electric, Window Unit(s)
    Water source
    Public

    Building Details

    Year built
    1960
    Floors in Building
    1
    Number of units
    1
    Flooring type
    Carpet, Concrete
    Building materials
    Brick, Frame
    Roof type
    Flat

    We can help!

    Listing Contact
    Chad Chaney

    Listing agent Chad Chaney

    Listing office Coldwell Banker Apex, REALTORS Plano, TX

    Listing date Jun 2, 2026

    MLS# 21288329

    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

    • Single‑story retail corner in downtown Abilene with off‑street parking
    • Brick and frame construction with flat roof
    • Utilities include public water and public sewer
    • Heating: natural gas; cooling includes electric and window unit(s)
    • Potential drive‑through setup with existing curb‑cuts on Hickory and N. 3rd
    • Parking available via on‑street and parking lot

    Overview

    This single-story retail corner offers a flexible foundation for a variety of street-level concepts. The existing building can be repurposed for your retail store, or redeveloped to better fit your specific requirements. Off-street parking supports day-to-day customer access, and the property also presents drive-through potential with existing curb-cuts at the adjoining streets.

    Located in downtown Abilene, the site’s corner configuration provides natural visibility and straightforward street access. Existing curb-cuts on Hickory and N. 3rd create options for vehicles entering and exiting the site, which can be valuable for operators looking to expand beyond a traditional walk-in format.

    For tenants or buyers seeking a turn-key-looking retail presence with development flexibility, this property is a practical fit. It can work for an operator that wants to adapt the current building for retail use, or for a buyer evaluating a redevelopment plan that leverages the drive-through capability and corner access.
    Property Profile 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
    -99.736312
    Latitude
    32.45151

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    FAQs

    What type of property is this?
    Storefront property - Single-story retail corner with off-street parking and existing curb-cuts for potential drive-through operations.
    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 in downtown Abilene with off‑street parking; Brick and frame construction with flat roof; Utilities include public water and public sewer
    (972) 208-8797
    We can help!
    Listing Contact
    Chad Chaney
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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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