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    Corner Lot Mixed-Use Property Title is generated by Realmo AI

    402 North Street, Buffalo Gap, TX 79508

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    For Sale
    $450,000

    COMMERCIAL - Buffalo Gap, TX

    Lot size:
    0.55 Acres
    Added:
    Apr 20, 2026
    Days on Market:
    46
    Last Refresh:
    Jun 4 at 6:06 am

    Property Features for 402 North Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    Driveway, On Street
    Standard status
    Active
    APN
    15848
    Lot size
    0.55 Acres

    Taxes and HOA fees

    Tax Description
    ORIGINAL TOWN BUFFALO GAP, BLOCK 13, LOT 40 T
    Tax Annual Amount
    4310

    Utilities

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

    Building Details

    Year built
    1951
    Floors in Building
    1
    Number of units
    4
    Flooring type
    Laminate, Wood
    Building materials
    BoardAndBattenSiding
    Roof type
    Composition

    We can help!

    Listing Contact
    Stacy Doby
    Stacy Doby

    Listing agent Stacy Doby License #0679121

    Listing office KW SYNERGY* ABILENE, TX

    Listing date Apr 20, 2026

    MLS# 21229033

    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

    • Commercial property on a corner lot in historic Buffalo Gap with one main building and four additional detached buildings
    • Main building previously operated as a restaurant, offering space to reimagine for a new use
    • Year built 1951 with board‑and‑batten siding and a composition roof
    • Utilities include public water and public sewer
    • Central heating plus electric heating; central air with additional electric and ceiling fans
    • Parking includes a driveway plus on‑street parking

    Overview

    This distinctive commercial property is positioned on a prime corner lot and designed for multiple revenue and use scenarios. The main building was previously operated as a restaurant and offers ample space that can be reimagined for a new concept. Around it are four additional detached buildings, creating a flexible framework for conversions into independent living quarters, guest accommodations, or other income-focused setups.

    The setting is anchored by mature trees and an inviting canopy, contributing to a destination feel. The offering sits in historic Buffalo Gap, with the combination of multiple structures on one site supporting both hospitality-style uses and private or community-driven programming.

    For buyers, the property lends itself to operators seeking an income-producing model through detached short-term rental units, with the possibility of expanding similar use into the main structure as well. It also suits those looking to pivot toward a private school, event venue, or a one-of-a-kind live-work concept, depending on how the buildings are configured and utilized. As noted in the remarks, buyers and buyer’s agents should verify square footage, schools, and materials.
    Property Profile Location Intelligence

    Current Use by Public Records

    Deep'n the Heart Association Or Organization

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Buffalo Gap
    County
    Taylor
    State
    Texas
    Longitude
    -99.825846
    Latitude
    32.285877

    Nearby Similar for Sale

    • $625,000

      Two-Story Office Building

      Well-appointed office layout with multiple conference rooms and private offices for professional services operations.
      321 N West Street, Buffalo Gap, TX 79508
      View Details
    • $495,000

      Buffalo Gap Hospitality Opportunity

      Restaurant and bungalows with expansion potential in historic Buffalo Gap.
      402 North Street A, Buffalo Gap, TX 79508
      View Details

    FAQs

    What type of property is this?
    Short term rental property - A versatile commercial corner property with a former restaurant building and four detached structures for rentals or events.
    Where is this short term rental property located?
    The property is located at 402 North Street Buffalo Gap, TX.
    What is the asking price?
    The asking price for this property is $450,000.
    What are key features of this property?
    This property features: Commercial property on a corner lot in historic Buffalo Gap with one main building and four additional detached buildings; Main building previously operated as a restaurant, offering space to reimagine for a new use; Year built 1951 with board‑and‑batten siding and a composition roof
    (325) 692-4488
    We can help!
    Listing Contact
    Stacy Doby
    Stacy Doby
    Real Estate License ID: 0679121
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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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