Metal Office
For Sale
$499,900
4373 Spindletop Drive, 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 Market200
Property Features for 4373 Spindletop Drive
General Information
Standard status
Active
Size
2,664 SF
Property subtype
Office
Additional Details
Office Units
6
Taxes and HOA fees
Annual Taxes
$6,708
Amenities
Electric
3
Curbs Walk, Asphalt.
Building Details
Year Built
1985
Listing Agency:
Hatchett & Co. Real Estate
(325) 695-7300
Listed By:
Amanda Hatchett · License #0580540
(325) 370-5159
Source:
Xome
Added: Feb 17
Changed: Sep 4
Last Checked: Sep 4 at 3:07AM
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 Hatchett & Co. Real Estate
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 = 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
$29,550
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
5.91%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Lease Details
6
Office units
Location Intelligence
Trade Area within ½ mile
434
Businesses Nearby
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
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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 Drive 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
