Flex Space with
For Sale
$450,000
627 - 623 Pine St, Abilene, TX 79601
Two-sided layout combines showrooms, offices, warehouses, kitchenettes, and restrooms.
Property Size4,020 SF
Price / SF$111.94
Days on Market43
Property Features for 627 - 623 Pine St
General Information
Standard status
Active
Size
4,020 SF
Additional Details
Road Access
Yes
Building Details
Year Built
1965
Listing Agency:
Real Broker, LLC
(512) 960-3253
Listed By:
Tonya Harbin · License #0565908
Source:
Yourdavisteam
Added: Jul 20
Changed: Aug 29
Last Checked: Aug 30 at 7:13PM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
This 4,020-square-foot flex property, built in 1965, is arranged as two connected business areas. The first includes a showroom with picture windows, a private office, a second showroom, and a warehouse with a restroom. The other side provides two showroom areas, two offices, a kitchenette, a restroom, and an additional warehouse suited to storage, distribution, or workspace use.
Located at 627 623 Pine St in downtown Abilene, the property sits directly across from the Abilene Convention Center and offers street frontage. Parking spaces have been newly painted. The building’s combination of customer-facing areas, offices, warehouse space, and support rooms accommodates a range of commercial configurations within one property.
Located at 627 623 Pine St in downtown Abilene, the property sits directly across from the Abilene Convention Center and offers street frontage. Parking spaces have been newly painted. The building’s combination of customer-facing areas, offices, warehouse space, and support rooms accommodates a range of commercial configurations within one property.
Key Highlights
- 4,020 SF flex property built in 1965
- Two‑sided configuration with separate showroom, office, warehouse, kitchenette, and restroom areas
- Large showroom areas include picture windows and new carpet on one side
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
$34,173
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
7.59%
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%
$683,460
$683.5K
Cap Rate 7%
$488,186
$488.2K
Cap Rate 9%
$379,700
$379.7K
Market Conditions
NOI Build-Up for 4,020 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
$53.1K $13.20/SF
− Vacancy
−$4.2K −$1.06/SF
EGI
$48.8K $12.14/SF
− OpEx
−$14.6K −$3.64/SF
NOI
$34.2K $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%
$683,460
Cap Rate 7%
$488,186
Cap Rate 9%
$379,700
Alternative Uses
Best Use
Office B
$637.0K
$557.4K – $743.2K
NOI $44,592 @ 7.0% cap · market cap 9.91%
Second Best
Retail
$488.2K
$427.2K – $569.6K
NOI $34,173 @ 7.0% cap · market cap 7.59%
Theoretical Best
Office A
$897.5K
$785.4K – $1.05M
NOI $62,828 @ 7.0% cap · market cap 13.96%
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
1,423
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 79601, TX
26,515
Population
9,422
Households
2.8
Avg Household Size
32
Median Age
21%
College-Educated
84%
High-School Grad
263.0 sq mi
ZIP Area
101
Density / Sq Mi
$54,515
Median Household Income
$24,704
Median Earnings
$988
Median Rent
$182,900
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?
Flex space - Two-sided layout combines showrooms, offices, warehouses, kitchenettes, and restrooms.
Where is this flex space located?
The property is located at 627 - 623 Pine St Abilene, TX.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 4,020 SF flex property built in 1965; Two‑sided configuration with separate showroom, office, warehouse, kitchenette, and restroom areas; Large showroom areas include picture windows and new carpet on one side
