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    Development Land with Rental Income Title is generated by Realmo AI

    5868 US Highway 277 S, Abilene, TX 79606

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    For Sale
    $1,950,000

    LAND - Abilene, TX

    Lot size:
    11.30 Acres
    Added:
    Mar 20, 2026
    Days on Market:
    76
    Last Refresh:
    Jun 3 at 6:06 am

    Property Features for 5868 US Highway 277 S

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    55618
    Lot size
    11.30 Acres

    Taxes and HOA fees

    Tax Description
    A0003 SUR 44 JOHN ADAMS, ACRES 12.3
    Tax Annual Amount
    10199

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Year built
    1952

    We can help!

    Listing Contact
    Chris Barnett

    Listing agent Chris Barnett License #0477804

    Listing office Chris Barnett Real Estate Abilene, TX

    Listing date Mar 20, 2026

    MLS# 21002418 Listing URL

    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

    • Prime development tract on Hwy 277 S between Rebecca (south) and Hwy 83‑84 (Loop 322) (north)
    • Travel trailer park allowed with current zoning; potential uses mentioned include multi‑family, commercial, retail, townhome, and hotel
    • Public water and public sewer available to the site
    • No flood and flat topo, ready for development
    • Existing church and two houses on‑site provide rental income
    • Owner finance option available

    Overview

    This development tract offers a mix of opportunity and immediate income. The property is a flat site described as ready for development, with existing improvements that include a church and two houses, which currently provide rental income. The offering also notes that a travel trailer park is allowed with the current zoning, expanding the tenant and operator potential on day one. Utilities are available to the site, supporting flexible future development planning.

    Situated along US Highway 277 S in Abilene, the tract is positioned with Rebecca to the south and Hwy 83-84 (Loop 322) to the north. The location is presented as a prime development corridor, with frontage and nearby access routes supporting a wide range of concepts. The remarks also indicate there is no flood risk and that the terrain is flat.

    For buyers, this property fits investors and developers looking for land that can support both near-term income from the existing structures and longer-term expansion. The provided remarks further suggest potential development uses may include multi-family, commercial, retail, townhome, and hotel concepts, subject to zoning alignment. The owner also offers a finance option for qualified buyers.
    Property Profile Location Intelligence

    Current Use by Public Records

    Churches & religious facilities

    Suggested Use

    Restaurant Real Estate Agency Auto Repair Shop Nail Salon Hotel & Motel Gym & Fitness Center Auto Parts Store Department Store Food Market Storage Facility

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

    Location Insight

    • Map
    • Local Demand
    City
    Abilene
    County
    Taylor
    State
    Texas
    Longitude
    -99.8016155
    Latitude
    32.410525

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    FAQs

    What type of property is this?
    Church & religious facility - Flat, ready-to-develop tract with utilities available and existing church plus two houses generating rental income.
    Where is this church & religious facility located?
    The property is located at 5868 US Highway 277 S Abilene, TX.
    What is the asking price?
    The asking price for this property is $1,950,000.
    What are key features of this property?
    This property features: Prime development tract on Hwy 277 S between Rebecca (south) and Hwy 83‑84 (Loop 322) (north); Travel trailer park allowed with current zoning; potential uses mentioned include multi‑family, commercial, retail, townhome, and hotel; Public water and public sewer available to the site
    (325) 201-7679
    We can help!
    Listing Contact
    Chris Barnett
    Real Estate License ID: 0477804
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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.

    More about this property
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    5868 US Highway 277 S, Abilene, TX 79606
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