Metal Office
For Sale
$499,900
4373 Spindletop Dr, Abilene, TX 79602
Updated office building on a double lot with paved parking, central HVAC, and multiple private offices.
Property Size2,664 SF
Price / SF$187.65
Days on Market182
Property Features for 4373 Spindletop Dr
General Information
Standard status
Active
Size
2,664 SF
Additional Details
Office Units
6
Building Details
Year Built
1985
Listing Agency:
Hatchett & Co. Real Estate
Listed By:
Amanda Hatchett · License #0580540
(325) 370-5159
Source:
Minteerteam
Added: Apr 24
Changed: Oct 15
Last Checked: Oct 7 at 1:01PM
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 Hatchett & Co. Real Estate
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Investment Insights
Based on property information with market context.
This metal and rock office building features a metal roof with a slab foundation and sits on a double lot with part of the lot paved for parking. The interior includes six private office spaces, along with a reception area that could function as an additional office. A very large conference room with magnetic walls is supported by separate men’s and women’s restrooms, a supply room, and extra decked attic storage.
The building includes a kitchenette area, central heat and air, and a drop box installed in a back door. Additional decked attic storage is included, supporting organization for office needs.
In addition to the current office configuration, the property description notes flexibility for potential expansion, such as adding on, fencing, or adding warehouse storage behind or to the south, depending on the business plan.
The building includes a kitchenette area, central heat and air, and a drop box installed in a back door. Additional decked attic storage is included, supporting organization for office needs.
In addition to the current office configuration, the property description notes flexibility for potential expansion, such as adding on, fencing, or adding warehouse storage behind or to the south, depending on the business plan.
Key Highlights
- Updated office building on a double lot with paved parking and asphalt city road access
- Metal and rock exterior with a metal roof and slab foundation; built in 1985
- 6 private offices plus a reception area that could be used as a 7th office
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,550
Cap Rate
5.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$591,000
$591.0K
Cap Rate 7%
$422,143
$422.1K
Cap Rate 9%
$328,333
$328.3K
Market Conditions
NOI Build-Up for 2,664 SF
Gross rent
$46.4K $17.40/SF
− Vacancy
−$7.0K −$2.61/SF
EGI
$39.4K $14.79/SF
− OpEx
−$9.9K −$3.70/SF
NOI
$29.6K $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 Rate 5%
$591,000
Cap Rate 7%
$422,143
Cap Rate 9%
$328,333
Alternative Uses
Best Use
Office B
$422.1K
$369.4K – $492.5K
NOI $29,550 @ 7.0% cap · market cap 5.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$594.8K
$520.4K – $693.9K
NOI $41,635 @ 7.0% cap · market cap 8.33%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
6
Office units
Location Intelligence
Trade Area within ½ mile
434
Businesses Nearby
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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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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Updated office building on a double lot with paved parking, central HVAC, and multiple private offices.
Where is this office building located?
The property is located at 4373 Spindletop Dr Abilene, TX.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Updated office building on a double lot with paved parking and asphalt city road access; Metal and rock exterior with a metal roof and slab foundation; built in 1985; 6 private offices plus a reception area that could be used as a 7th office
