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    Former Restaurant with Redevelopment Potential Title is generated by Realmo AI

    401 Westwood Drive, Abilene, TX 79603

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    For Sale
    $225,000

    SINGLE_FAMILY - Abilene, TX

    Type:Retail
    Lot size:
    0.64 Acres
    Added:
    Jun 4, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 5 at 9:06 pm

    Property Features for 401 Westwood Drive

    General Information

    Property type
    Residential
    Property subtype
    Retail
    Parking features
    Parking Lot
    Standard status
    Active
    APN
    10363
    Lot size
    0.64 Acres

    Taxes and HOA fees

    Tax Description
    SAMBOS RESTAURANT INC, BLOCK 1, LOT ALL, & 2
    Tax Annual Amount
    16001

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating)
    Cooling system
    Ceiling Fan(s), Electric
    Water source
    Public

    Building Details

    Year built
    1983
    Floors in Building
    1
    Number of units
    1
    Flooring type
    Concrete, Tile
    Building materials
    Brick, Concrete
    Roof type
    Flat

    We can help!

    Listing Contact
    Shay Senter
    Shay Senter

    Listing agent Shay Senter License #0604001

    Listing office Better Homes & Gardens Real Estate Senter, REALTORS Abilene, TX

    Listing date Jun 4, 2026

    MLS# 21288484

    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

    • Former Grandy’s restaurant with an existing commercial structure for redevelopment and repurposing into future uses, subject to approvals.
    • Seller will install a new roof prior to closing.
    • Year built: 1983; construction materials include brick and concrete.
    • Flat roof; flooring includes concrete and tile.
    • Utilities: public water and public sewer.
    • Electric heating and electric cooling (ceiling fans); property requires significant electrical repairs to restore power.

    Overview

    This property is a former Grandy’s restaurant site built for commercial use, offering an existing structure that can be adapted for a range of future concepts, subject to approvals and requirements. The seller will install a new roof prior to closing, and the building will require significant electrical repairs to restore power. Documentation regarding the electrical system is available through the MLS and may be provided to qualified buyers upon request.

    Located at 401 Westwood Drive in Abilene, Texas (Taylor County), the site sits on 0.64 acres. The property is described as being in a highly visible commercial location, making it suitable for buyers looking to work from an existing improvements base rather than starting from new construction.

    For operators, investors, or owner-users who want flexibility, this asset may be a workable platform for redevelopment into restaurant, retail, office, or mixed-use uses, as permitted by applicable approvals. The available information regarding the electrical system should be reviewed early so redevelopment plans can account for the required electrical restoration and any associated repairs, along with the roof replacement scheduled by the seller before closing.
    Property Profile Location Intelligence

    Current Use by Public Records

    Conventional restaurants

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon 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
    -99.767009
    Latitude
    32.45373

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    FAQs

    What type of property is this?
    Conventional restaurant - Redevelop an existing restaurant building in Abilene, with a new roof to be installed before closing.
    Where is this conventional restaurant located?
    The property is located at 401 Westwood Drive Abilene, TX.
    What is the asking price?
    The asking price for this property is $225,000.
    What are key features of this property?
    This property features: Former Grandy’s restaurant with an existing commercial structure for redevelopment and repurposing into future uses, subject to approvals.; Seller will install a new roof prior to closing.; Year built: 1983; construction materials include brick and concrete.
    (325) 695-8000
    We can help!
    Listing Contact
    Shay Senter
    Shay Senter
    Real Estate License ID: 0604001
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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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