Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Retail Space in High-Traffic Area Title is generated by Realmo AI

    1638 Hwy 351, Abilene, TX 79601

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Retail space available in front of Walmart on Hwy 351.

    Type:Retail
    Added:
    May 23, 2026
    Days on Market:
    13
    Last Refresh:
    May 27 at 7:53 am

    Property Features for 1638 Hwy 351

    General Information

    Standard status
    Active
    Property subtype
    Retail

    Spaces For Lease

    at 1638 Hwy 351 Contact us

    We can help!

    Listing Contact
    Matt Muzechenko
    Matt Muzechenko

    Listing agent Matt Muzechenko License ## 570282

    Listing office Paul Johnson & Associates

    Listing date May 23, 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 Paul Johnson & Associates

    HighLights

    • Prime location on Hwy 351 in front of Walmart
    • High‑traffic area with steady flow of local residents and visitors
    • Adjacent to Chili’s and Dairy Queen
    • Ideal location for retail and street retail tenants
    • Located in the heart of Abilene, TX
    • Situated in the Red Armadillo Market Center

    Overview

    This retail space is located on Highway 351 in front of Walmart, adjacent to Chili’s and Dairy Queen. Situated in the Red Armadillo Market Center area of Abilene, Texas, the location is suitable for retail and street retail tenants. The property benefits from a high-traffic location, attracting local residents and visitors.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Abilene
    County
    Taylor
    State
    Texas
    Longitude
    -99.697972
    Latitude
    32.480332

    Nearby Similar for Lease

    • $2,000/Mo
      2,627 SF

      Corner Retail Storefront Suite

      Corner storefront retail space with display windows and multiple back-of-house rooms, ideal for specialty retail and services.
      3660 N 6th Street, Abilene, TX 79603
      View Details
    • $6,672/Mo

      High-Visibility Professional Office Suites

      Professional office on a central commercial corridor with multiple addresses and parking for day-to-day client visits.
      3402 S 14th Street, Abilene, TX 79605
      View Details
    • $3,000/Mo

      Flex Warehouse with Showroom Offices

      Corner property combines a customer-facing showroom, offices, and a high-clearance warehouse for light industrial and contractor use.
      257 Butternut Street, Abilene, TX 79602
      View Details
    • $1,000/Mo

      Retail Storefront in Shopping Center

      Flexible General Commercial zoning supports a variety of retail and service uses in a convenient shopping center setting.
      2508 S 7th Street, Abilene, TX 79605
      View Details
    • $4,021/Mo

      Flex Warehouse Building with Entrances

      Distinctive blue warehouse building offering adaptable space for warehouse, retail, medical, or storage users.
      1701 N Treadaway Boulevard, Abilene, TX 79601
      View Details
    • $3,000/Mo

      Flex Space with Fenced Yard

      Flex unit includes office build-out, attached warehouse with overhead doors, and a fully fenced yard with parking.
      926 Energy Drive, Abilene, TX 79602
      View Details
    • $2,250/Mo

      Medical Office Space with Parking

      Well-maintained office layout with reception, private offices, and on-site parking near Hendrick Medical Center.
      1202 Hickory Street, Abilene, TX 79601
      View Details
    • $8,000/Mo
      6,100 SF

      Industrial Warehouse with Office Space

      Industrial warehouse with dedicated office space, accessible layout, and built-in shower restrooms for operations and convenience.
      408 Highway 83-84, Abilene, TX 79602
      View Details
    • $6,500/Mo

      Industrial Flex Property for Lease

      Industrial flex facility with high-visibility exterior areas and multiple access points for storage, shop, or parking needs.
      133 A S Treadaway Boulevard, Abilene, TX 79602
      View Details
    • $2,750/Mo

      High-Visibility Office Suite

      Light-filled suite with reception windows, conference space, and ample offices suited for office or medical tenants.
      3125 Oldham Lane, Abilene, TX 79602
      View Details
    • $1,600/Mo

      Flexible Office/Warehouse Space

      A flexible layout with office, warehouse storage, and showroom space for adaptable business operations.
      1433 S 14th Street, Abilene, TX 79602
      View Details
    • $1,700/Mo

      Second-Story Office Suite

      Move-in ready second-level offices with updated restrooms, break room, and private entrance for professional teams.
      2002 Sayles Boulevard, Abilene, TX 79605
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail space available in front of Walmart on Hwy 351.
    Where is this retail space located?
    The property is located at 1638 Hwy 351 Abilene, TX.
    What are key features of this property?
    This property features: Prime location on Hwy 351 in front of Walmart; High‑traffic area with steady flow of local residents and visitors; Adjacent to Chili’s and Dairy Queen
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Matt Muzechenko
    Matt Muzechenko
    Real Estate License ID: # 570282
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1638 Hwy 351, Abilene, TX 79601
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!