Building Details

Building Size 4,284 SF

Year Built 1909

Buildings 1

Stories 3

Units 1

Listing Agency: Trinity Ranch Land Cross Plain Show Phone

Listed By: Karen Lenz · License #0432195 Show Phone

Source: Bourquinrealty

Added: Oct 19 Changed: Oct 22 Last Checked: Oct 22 at 2:13PM

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Investment Insights

Based on property information with market context.

Completed in 1909, this three-story office property contains 4,284 square feet, with 1,428 square feet on each level. Its interior includes 10 additional rooms, an updated kitchen, one full bath, and two half baths. Original hardwood flooring, high ceilings, large windows, crown molding, and period details distinguish the upper floors; two rooms retain antique fireplaces with custom wood surrounds. Exposed brick and stained concrete characterize the lower level, which also has washer and dryer connections. Multiple entrances, updated windows, and separate HVAC systems for each floor add to the building’s configuration.

The property was first used by the U.S. Weather Bureau and later served as a business school and corporate offices. A concrete parking area provides off-street parking, while mature oak trees and a sprinkler-served lawn occupy the grounds.

Key Highlights

• 4,284 SF across three floors, with 1,428 SF on each level
• Built in 1909 as a U.S. Weather Bureau facility
• 10 additional rooms, an updated kitchen, one full bath, and two half baths

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$47,520

Cap Rate

3.70%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$950,400 $950.4K

Cap Rate 7%

$678,857 $678.9K

Cap Rate 9%

$528,000 $528.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,284 SF

Gross rent

$74.5K $17.40/SF

− Vacancy

−$11.2K −$2.61/SF

EGI

$63.4K $14.79/SF

− OpEx

−$15.8K −$3.70/SF

NOI

$47.5K $11.09/SF

Area

Abilene, TX

Vacancy

15.00%

Lease Rate

$17.40 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$950,400

Cap Rate 7%

$678,857

Cap Rate 9%

$528,000

Alternative Uses

Best Use

Office B

$678.9K

$594.0K – $792.0K (±1% cap)

NOI $47,520 @ 7.0% cap · market cap 3.70%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$956.5K

$836.9K – $1.12M (±1% cap)

NOI $66,954 @ 7.0% cap · market cap 5.21%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

IS Weather Bureau Government Office

Suggested Use

Top Pick Real Estate Agency Dental Office Pharmacy Restaurant Garden Center Gym & Fitness Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,665

Businesses Nearby

Explore this area Business Placement

Demographics for 79601, TX

26,515

Population

9,422

Households

2.8

Avg Household Size

32

Median Age

21%

College-Educated

84%

High-School Grad

263.0 sq mi

ZIP Area

101

Density / Sq Mi

$54,515

Median Household Income

$24,704

Median Earnings

$988

Median Rent

$182,900

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Office building - Separate HVAC systems serve each level, allowing independent climate control throughout the building.

Where is this office building located?

The property is located at 1466 N 1st Street Abilene, TX.

What is the asking price?

The asking price for this property is $1,285,000.

What are key features of this property?

This property features: 4,284 SF across three floors, with 1,428 SF on each level; Built in 1909 as a U.S. Weather Bureau facility; 10 additional rooms, an updated kitchen, one full bath, and two half baths