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    LI Zoned Industrial Redevelopment Parcel Title is generated by Realmo AI

    189 Locust, Abilene, TX 79602

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    For Sale
    $1,200,000

    LAND - Abilene, TX

    Property size:
    6,240 SF
    Lot size:
    5.42 Acres
    Price / SF:
    $192/SF
    Added:
    May 27, 2026
    Days on Market:
    9
    Last Refresh:
    Jun 4 at 9:06 pm

    Property Features for 189 Locust

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    22875
    Size
    6,240 SF
    Lot size
    5.42 Acres

    Utilities

    Heating system
    Electric (Heating), Central
    Cooling system
    Central Air, Electric

    Building Details

    Year built
    1930
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Concrete, Terrazzo
    Roof type
    Slate, Composition, Tile, Metal

    We can help!

    Listing Contact
    John Hill

    Listing agent John Hill License #0627718

    Listing office Barnett & Hill Abilene, TX

    Listing date May 27, 2026

    MLS# 14278055

    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

    • 5.42‑acre parcel in Abilene’s SoDA district at the corner of Locust & S 2nd
    • Zoned LI and located in an opportunity zone; used for rail
    • Largest contiguous acreage in the South Abilene Planning District, per listing remarks
    • Two buildings: 3,040 SF Burlington depot and 3,200 SF rail maintenance barn
    • Roof types listed include slate, composition, tile, and metal
    • Additional note: a 1.08‑acre, 15,000 SF warehouse at 133 Cherry is also listed with this tract (6.5 acres total)

    Overview

    A largely undeveloped industrial land parcel totaling 5.42 acres includes two rail-related buildings: a 3,040 square foot Burlington depot and a 3,200 square foot rail maintenance barn. The site is currently improved with structures that reflect its historic rail use, while the majority of the acreage remains open, creating flexibility for a new configuration.

    The property is located at the corner of Locust and S 2nd, identified as a gateway to Abilene’s SoDA district. It is zoned LI and designated as an opportunity zone. The tract is described as the largest, contiguous acreage in the South Abilene Planning District and is used for rail.

    With new bars and restaurants arriving in the area, this site could be well suited for redevelopment with mixed-use housing and retail intended to complement existing businesses. For investors and developers, the combination of opportunity zone status, LI zoning, and existing depot and maintenance-barn improvements may offer a practical starting point to plan future uses that align with downtown redevelopment priorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Burlington Railroad Station Tour Operator

    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.

    Location Insight

    • Map
    • Local Demand
    City
    Abilene
    County
    Taylor
    State
    Texas
    Longitude
    -99.72969
    Latitude
    32.44757

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    FAQs

    What type of property is this?
    Industrial land - Largely undeveloped industrial tract with existing rail-related buildings, positioned for future redevelopment in an opportunity zone.
    Where is this industrial land located?
    The property is located at 189 Locust Abilene, TX.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: 5.42‑acre parcel in Abilene’s SoDA district at the corner of Locust & S 2nd; Zoned LI and located in an opportunity zone; used for rail; Largest contiguous acreage in the South Abilene Planning District, per listing remarks
    (325) 677-3500
    We can help!
    Listing Contact
    John Hill
    Real Estate License ID: 0627718
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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.

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