Restaurant with Separate Office
For Sale
$350,000
228 Chestnut St, Abilene, TX 79602
Includes restaurant equipment, a separate office, and dedicated storage space.
Property Size2,175 SF
Price / SF$160.92
Days on Market382
Property Features for 228 Chestnut St
General Information
Standard status
Active
Size
2,175 SF
Property subtype
Commercial
Building Details
Year Built
1891
Listing Agency:
Tommy Simons (office)
Listed By:
Tommy Simons · License #0583499
(325) 695-3730
Source:
Northtexashomeguide
Added: Oct 3, 2025
Changed: Oct 1
Last Checked: Oct 5 at 6:54PM
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 Tommy Simons (office)
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Investment Insights
Based on property information with market context.
This restaurant property includes both the operating business and the underlying real estate. The 2,175-square-foot facility was built in 1891 and conveys with a large vent hood, grill, fryolator, commercial stove, steam table, three-bay sink, ice machine, and nearly new walk-in refrigerator. A separate office and storage building is also included.
The property is located at 228 Chestnut St in Abilene’s SODA District, within walking distance of the courthouse and surrounded by active businesses. The roof was replaced in 2014, while the HVAC system has received professional service every six months.
The property is located at 228 Chestnut St in Abilene’s SODA District, within walking distance of the courthouse and surrounded by active businesses. The roof was replaced in 2014, while the HVAC system has received professional service every six months.
Key Highlights
- Business and real estate conveyed together
- 2,175‑square‑foot restaurant facility built in 1891
- Includes large vent hood, grill, fryolator, commercial stove, and steam table
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,728
Cap Rate
6.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$434,560
$434.6K
Cap Rate 7%
$310,400
$310.4K
Cap Rate 9%
$241,422
$241.4K
Market Conditions
NOI Build-Up for 2,175 SF
Gross rent
$31.3K $14.40/SF
− Vacancy
−$2.3K −$1.08/SF
EGI
$29.0K $13.32/SF
− OpEx
−$7.2K −$3.33/SF
NOI
$21.7K $9.99/SF
Area
Abilene, TX
Vacancy
7.50%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$434,560
Cap Rate 7%
$310,400
Cap Rate 9%
$241,422
Alternative Uses
Best Use
Specialty Retail
$310.4K
$271.6K – $362.1K
NOI $21,728 @ 7.0% cap · market cap 6.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$485.6K
$424.9K – $566.6K
NOI $33,993 @ 7.0% cap · market cap 9.71%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,619
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 79602, TX
25,389
Population
11,127
Households
2.3
Avg Household Size
36
Median Age
34%
College-Educated
91%
High-School Grad
121.7 sq mi
ZIP Area
209
Density / Sq Mi
$84,845
Median Household Income
$39,044
Median Earnings
$1,123
Median Rent
$233,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Includes restaurant equipment, a separate office, and dedicated storage space.
Where is this conventional restaurant located?
The property is located at 228 Chestnut St Abilene, TX.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Business and real estate conveyed together; 2,175‑square‑foot restaurant facility built in 1891; Includes large vent hood, grill, fryolator, commercial stove, and steam table
