Remodeled Building in SODA
For Sale
$449,000
382 Chestnut St, Abilene, TX 79602
Remodeled 3,340 SF building with 1,160 SF covered patio.
Property Size3,340 SF
Lot Size0.12 Acres
Price / SF$134.43
Days on Market493
Property Features for 382 Chestnut St
General Information
Standard status
Active
Size
3,340 SF
Lot size
0.12 Acres
Taxes and HOA fees
Annual Taxes
$8,018
Listing Agency:
Barnett & Hill
(325) 677-3500
Listed By:
Timothy Smith · License #0824681
(325) 677-3500
Source:
Exprealty
Added: Apr 7, 2025
Changed: Aug 8
Last Checked: Aug 7 at 11:07AM
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 Barnett & Hill
Investment Insights
Based on property information with market context.
This is a fully remodeled 3,340 square foot air-conditioned building with an additional 1,160 square foot covered and heated patio, situated in the SODA District. Renovations completed in 2018 included new plumbing, a new roof, new HVAC, new electrical systems, new windows, and a new sprinkler system. The building retains its original tin ceilings, complemented by modern updates such as two ADA-compliant restrooms, a catering kitchen, and a walk-in cooler. Currently operating as a bar called Amendment 21, the space is suitable for various business uses, including an attorney's office, bakery, retail space, or small company headquarters. The property is located near The Mill, Abilene Axe, Oak Street Shoppe, KAO Lounge, and Big Country Beer Garden, as well as numerous private and County offices. Multi-million dollar renovations to the Old Taylor County Courthouse and an upcoming $3.5 million construction project at 833 South 1st contribute to the area's redevelopment.
Key Highlights
- Fully remodeled 3,340 sq ft building, renovated in 2018 with new plumbing, roof, HVAC, electrical, windows, and sprinkler system and an additional 1,160 sq ft covered & heated patio.
- Located in the rapidly redeveloping SODA District of South Downtown Abilene.
- Features preserved original tin ceilings combined with modern upgrades like two ADA compliant restrooms, catering kitchen, and walk‑in cooler.
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
$37,049
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
8.25%
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%
$740,980
$741.0K
Cap Rate 7%
$529,271
$529.3K
Cap Rate 9%
$411,656
$411.7K
Market Conditions
NOI Build-Up for 3,340 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
$58.1K $17.40/SF
− Vacancy
−$8.7K −$2.61/SF
EGI
$49.4K $14.79/SF
− OpEx
−$12.3K −$3.70/SF
NOI
$37.0K $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%
$740,980
Cap Rate 7%
$529,271
Cap Rate 9%
$411,656
Alternative Uses
Best Use
Office B
$529.3K
$463.1K – $617.5K
NOI $37,049 @ 7.0% cap · market cap 8.25%
Second Best
Specialty Retail
$476.7K
$417.1K – $556.1K
NOI $33,367 @ 7.0% cap · market cap 7.43%
Theoretical Best
Office A
$745.7K
$652.5K – $870.0K
NOI $52,200 @ 7.0% cap · market cap 11.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
371
Businesses Nearby
Balanced
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- KAO Lounge — 137 B Oak St, Abilene, TX 79602
- The Handle Bar at Bike ABI — 409 S Treadaway Blvd, Abilene, TX 79602
- Eskimo Hut - Frozen Daiquiris To-Go — 1049 S Treadaway Blvd, Abilene, TX 79602
- Amendment 21 — 382 Chestnut St, Abilene, TX 79602
- The Mill Wine Bar & Event Center — 239 Locust St, Abilene, TX 79602
Frequently Asked Questions
What type of property is this?
Bar & Pub - Remodeled 3,340 SF building with 1,160 SF covered patio.
Where is this bar & pub located?
The property is located at 382 Chestnut St Abilene, TX.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Fully remodeled 3,340 sq ft building, renovated in 2018 with new plumbing, roof, HVAC, electrical, windows, and sprinkler system and an additional 1,160 sq ft covered & heated patio.; Located in the rapidly redeveloping SODA District of South Downtown Abilene.; Features preserved original tin ceilings combined with modern upgrades like two ADA compliant restrooms, catering kitchen, and walk‑in cooler.
