Commercial Land with Office
For Sale
$1,300,000
2002 Jameson St, Abilene, TX 79603
Commercial acreage includes an occupied gym and a separate office building with multiple suites along I-20.
Property Size9,000 SF
Price / SF$144.44
Days on Market39
Property Features for 2002 Jameson St
General Information
Standard status
Active
Size
9,000 SF
Building Details
Year Built
1950
Listing Agency:
Redrock Realty Group
(325) 669-5151
Listed By:
Dylan Burnett · License #0833216
Source:
Minteerteam
Added: Jul 24
Changed: Aug 29
Last Checked: Aug 30 at 8:19PM
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 Redrock Realty Group
Investment Insights
Based on property information with market context.
This 3.6+ acre commercial property includes an existing gym tenant and a separate office building positioned along I-20. The office component contains six suites of approximately 750 SF each, creating a defined set of existing improvements within the larger land offering. The property dates to 1950.
Located at 2002 Jameson St in Abilene, the site is just off I-20 and next to a new QuikTrip. The office building fronts the interstate, while the owner is willing to add a parking lot and new entrance. The property is offered for sale, with lease availability also noted for the office building.
Located at 2002 Jameson St in Abilene, the site is just off I-20 and next to a new QuikTrip. The office building fronts the interstate, while the owner is willing to add a parking lot and new entrance. The property is offered for sale, with lease availability also noted for the office building.
Key Highlights
- 3.6+ acres of commercial land
- Existing gym tenant in place
- Six office suites at approximately 750 SF each
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$99,833
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.68%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,996,660
$2.0M
Cap Rate 7%
$1,426,186
$1.4M
Cap Rate 9%
$1,109,256
$1.1M
Market Conditions
NOI Build-Up for 9,000 SF
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.
Gross rent
$156.6K $17.40/SF
− Vacancy
−$23.5K −$2.61/SF
EGI
$133.1K $14.79/SF
− OpEx
−$33.3K −$3.70/SF
NOI
$99.8K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,996,660
Cap Rate 7%
$1,426,186
Cap Rate 9%
$1,109,256
Alternative Uses
Best Use
Office B
$1.43M
$1.25M – $1.66M
NOI $99,833 @ 7.0% cap · market cap 7.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.01M
$1.76M – $2.34M
NOI $140,659 @ 7.0% cap · market cap 10.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
145
Businesses Nearby
Explore this area
Business Placement
Demographics for 79603, TX
23,746
Population
9,960
Households
2.4
Avg Household Size
35
Median Age
17%
College-Educated
83%
High-School Grad
59.2 sq mi
ZIP Area
401
Density / Sq Mi
$53,579
Median Household Income
$32,339
Median Earnings
$1,022
Median Rent
$114,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Commercial acreage includes an occupied gym and a separate office building with multiple suites along I-20.
Where is this commercial land located?
The property is located at 2002 Jameson St Abilene, TX.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 3.6+ acres of commercial land; Existing gym tenant in place; Six office suites at approximately 750 SF each
