Renovated Flex Space with
For Sale
$350,000
509 S Treadaway Blvd, Abilene, TX 79602
Open commercial interior with updated systems, glass frontage, and large-door access along S Treadaway Blvd.
Property Size2,086 SF
Price / SF$167.79
Days on Market213
Property Features for 509 S Treadaway Blvd
General Information
Standard status
Active
Size
2,086 SF
Property subtype
Commercial
Additional Details
Road Access
Yes
Amenities
epoxy flooring
finished restroom
new climate control systems
upgraded electrical
large garage door
new PTO roof
full glass storefront
Building Details
Year Built
1950
Year Renovated
2021
Buildings
1
Listing Agency:
Tommy Simons (office)
(325) 695-3730
Listed By:
Tommy Simons · License #0583499
Source:
Granburyhomefinder
Added: Jan 28
Changed: Aug 28
Last Checked: Aug 28 at 1:51PM
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 Tommy Simons (office)
Investment Insights
Based on property information with market context.
Renovated in 2021, this flex space features an open interior with epoxy flooring, a finished restroom, updated climate control, and upgraded electrical service. A large garage door supports convenient access, while the PTO roof adds another recent improvement. The full-glass storefront presents the building directly to the corridor and provides a defined commercial façade.
The property is located at 509 S Treadaway Blvd in Abilene, placing the building along a north–south commercial corridor. Its open configuration can accommodate a range of commercial layouts, including retail, office, service, boutique, and specialty uses as supported by the existing improvements and interior design.
The property is located at 509 S Treadaway Blvd in Abilene, placing the building along a north–south commercial corridor. Its open configuration can accommodate a range of commercial layouts, including retail, office, service, boutique, and specialty uses as supported by the existing improvements and interior design.
Key Highlights
- Renovated in 2021
- Open interior with durable epoxy flooring
- Updated climate control and electrical systems
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
$17,733
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
5.07%
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%
$354,660
$354.7K
Cap Rate 7%
$253,329
$253.3K
Cap Rate 9%
$197,033
$197.0K
Market Conditions
NOI Build-Up for 2,086 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
$27.5K $13.20/SF
− Vacancy
−$2.2K −$1.06/SF
EGI
$25.3K $12.14/SF
− OpEx
−$7.6K −$3.64/SF
NOI
$17.7K $8.50/SF
Area
Abilene, TX
Vacancy
8.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
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%
$354,660
Cap Rate 7%
$253,329
Cap Rate 9%
$197,033
Alternative Uses
Best Use
Retail
$253.3K
$221.7K – $295.6K
NOI $17,733 @ 7.0% cap · market cap 5.07%
Second Best
Flex RnD
$251.3K
$219.9K – $293.2K
NOI $17,589 @ 7.0% cap · market cap 5.03%
Theoretical Best
Office A
$465.7K
$407.5K – $543.4K
NOI $32,602 @ 7.0% cap · market cap 9.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,073
Businesses Nearby
Well-served
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 Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Open commercial interior with updated systems, glass frontage, and large-door access along S Treadaway Blvd.
Where is this flex space located?
The property is located at 509 S Treadaway Blvd Abilene, TX.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Renovated in 2021; Open interior with durable epoxy flooring; Updated climate control and electrical systems
