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    Hereford Commercial Retail Opportunity Title is generated by Realmo AI

    601 Main Street, Hereford, TX 79045

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    Claim this Listing
    For Sale
    $600,000

    COMMERCIAL - Hereford, TX

    Property size:
    5,800 SF
    Lot size:
    0.50 Acres
    Price / SF:
    $103/SF
    Added:
    Jan 23, 2026
    Days on Market:
    111
    Last Refresh:
    May 14 at 7:06 pm

    Property Features for 601 Main Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking
    30
    Standard status
    Active
    Size
    5,800 SF
    Lot size
    0.50 Acres

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1975
    Flooring type
    Tile, Carpet
    Building materials
    Frame, Block, Metal Fab
    Roof type
    Metal

    We can help!

    Listing Contact
    Charlie Kerr

    Listing agent Charlie Kerr License #337289

    Listing office Charlie Kerr Realtor Inc. 809 N Lee, Hereford, TX

    Listing date Jan 23, 2026

    MLS# 26-796

    Copyright © 2026 Amarillo Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Excellent downtown location with "C‑1" Commercial Retail zoning.
    • Potential to be reconfigured into separate spaces for up to 3 businesses.
    • Ample parking with street‑side spaces and an asphalt parking lot.
    • Features 9 offices, a great room, and a chapel.
    • Includes 5 HVAC units.
    • Attached carport approximately 15 x 92.

    Overview

    Located in downtown Hereford, this commercial property is zoned "C-1" Commercial Retail. The building, formerly a funeral home, offers the potential to be reconfigured into spaces suitable for up to three different businesses. The current layout includes nine offices, a great room, a chapel, and three restrooms. Parking is available on the street and in the asphalt parking lot to the north and west of the building. An attached carport measures approximately 15 x 92 feet. The property features plantation shutters and five HVAC units. A deed restriction will prohibit its use as a funeral home. The exterior construction consists of a concrete block frame with wood trim, wood and aluminum-framed windows, and solid entry doors. The roof is a combination of gable and flat sections with a sealed membrane covering. Interior features include raised panel doors, crown molding, carpet and some tile flooring, painted drywall with recessed and directional lighting, wood paneling, and wood trim. The property occupies a 0.5-acre lot and the building size is 5,800 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Hereford
    County
    Deaf Smith
    State
    Texas
    Longitude
    -102.50796
    Latitude
    34.740654

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    FAQs

    What type of property is this?
    Retail space - Downtown commercial property with retail zoning and redevelopment potential.
    Where is this retail space located?
    The property is located at 601 Main Street Hereford, TX.
    What is the asking price?
    The asking price for this property is $600,000.
    What are key features of this property?
    This property features: Excellent downtown location with "C‑1" Commercial Retail zoning.; Potential to be reconfigured into separate spaces for up to 3 businesses.; Ample parking with street‑side spaces and an asphalt parking lot.
    (806) 364-2045
    We can help!
    Listing Contact
    Charlie Kerr
    Real Estate License ID: 337289
    Learn More
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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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