Multi-Unit Warehouse Income
2826 Pine Street Abilene, TX 79601
2826 Pine Street, Abilene, TX, 79601
$215,000
For Sale
$215,000
Income-producing property with separately metered units, including a warehouse and two residential configurations.
Property Size2,284 SF
Price / SF$94.13
Days on Market1067
Property Features for 2826 Pine Street
General Information
- Standard status
- Active
- Size
- 2,284 SF
- Property subtype
- Multi-Family / Full Duplex
Building Details
- Year Built
- 1950
Listing agency
Barnett & Hill
(325) 669-8963
Listed by
Mitch Barnett · License #0574772
(325) 669-8963
Source
Compass
Added: Aug 21, 2023 Updated: Jul 21 at 11:51PM Checked: Jul 21 at 11:51PM
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 Barnett & Hill
Investment Insights
Based on property information with market context.
This investment property includes multiple rental components, featuring an 800 SF 2-bedroom, 1-bath unit and a 484 SF garage apartment, along with a 1,000 SF warehouse that includes a half bathroom. The shell below the garage apartment is also included and could be converted into an additional unit. All units are separately metered.
Current reported leasing includes the 2-bedroom unit rented for $750 per month through October 2024, the garage apartment rented for $475 per month through March 2024, and the warehouse rented for $600 on a month-to-month basis. The property conveys a refrigerator, stove, and stackable washer and dryer for the 2-bedroom unit.
Offered for sale as a mixed-use income package under one ownership structure, the configuration supports multiple revenue streams across residential and warehouse spaces.
Current reported leasing includes the 2-bedroom unit rented for $750 per month through October 2024, the garage apartment rented for $475 per month through March 2024, and the warehouse rented for $600 on a month-to-month basis. The property conveys a refrigerator, stove, and stackable washer and dryer for the 2-bedroom unit.
Offered for sale as a mixed-use income package under one ownership structure, the configuration supports multiple revenue streams across residential and warehouse spaces.
Key Highlights
- 3 separate, separately metered units: a 2BR/1BA unit, a garage apartment, and a 1,000 SF warehouse with a half bath
- 2BR/1BA unit is 800 SF, rented for $750/month through October 2024
- 484 SF garage apartment rented for $475/month through March 2024
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $28.8k | $12.60 |
| − Vacancy | −$1.7k | −$0.76 |
| EGI | $27.1k | $11.84 |
| − OpEx | −$8.1k | −$3.55 |
| NOI | $18.9k | $8.29 |
2,284 SF · lease $12.60/SF/yr · vacancy 6.00% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$270.5K
$236.7K – $315.6K
NOI $18,936 @ 7.0% cap · market cap 8.81%
Second Best
Apartment 5plus
$250.3K
$219.0K – $292.0K
NOI $17,522 @ 7.0% cap · market cap 8.15%
Theoretical Best
Office A
$509.9K
$446.2K – $594.9K
NOI $35,696 @ 7.0% cap · market cap 16.60%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Income-producing property with separately metered units, including a warehouse and two residential configurations.
Where is this duplex located?
The property is located at 2826 Pine Street Abilene, TX.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: 3 separate, separately metered units: a 2BR/1BA unit, a garage apartment, and a 1,000 SF warehouse with a half bath; 2BR/1BA unit is 800 SF, rented for $750/month through October 2024; 484 SF garage apartment rented for $475/month through March 2024
