Renovated Flex Space with Overhead
New
For Sale
$499,900
761 Arnold Boulevard, Abilene, TX 79605
Two renovated buildings offer adaptable workspace, overhead access, and a fenced yard.
Property Size1,566 SF
Lot Size1.10 Acres
Price / SF$101.92
Days on Market4
Property Features for 761 Arnold Boulevard
General Information
Standard status
Active
Size
1,566 SF
Lot size
1.10 Acres
Property subtype
Commercial
Zoning
GC
Additional Details
Asking Price
$499,900
Fenced Yard
Yes
Amenities
new central heat and AC
new roof
upgraded electrical
energy-efficient spray foam insulation
epoxy floor coatings
five brand-new insulated overhead doors
Building Details
Building Size
1,566 SF
Year Built
1958
Buildings
2
Stories
1
Units
1
Listing Agency:
Tommy Simons (office)
(325) 721-8800
Listed By:
Tommy Simons · License #0583499
(325) 721-8800
Source:
1111brokerage
Added: Aug 15
Changed: Aug 16
Last Checked: Aug 18 at 12:10AM
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.
This flex property includes two buildings totaling 4,905 square feet on 1.1 acres. Recent improvements include central heat and AC, a replacement roof, upgraded electrical service, spray foam insulation, and epoxy-coated floors. Five insulated overhead doors support vehicle and equipment access, while the fenced yard and asphalt-millings parking area add functional exterior space. The property was originally built in 1958 and is zoned GC.
Positioned at 761 Arnold Boulevard in Abilene, the site is adjacent to Allsup's and near Dyess Air Force Base. The combination of enclosed workspace, multiple overhead doors, yard area, and parking provides a flexible physical setup for commercial operations. Potential uses identified for the property include an auto shop, laundromat, restaurant, or professional office with yard space.
Positioned at 761 Arnold Boulevard in Abilene, the site is adjacent to Allsup's and near Dyess Air Force Base. The combination of enclosed workspace, multiple overhead doors, yard area, and parking provides a flexible physical setup for commercial operations. Potential uses identified for the property include an auto shop, laundromat, restaurant, or professional office with yard space.
Key Highlights
- 4,905 SF across two buildings on 1.1 acres
- Five insulated overhead doors
- New central heat and AC, roof, upgraded electrical, and spray foam insulation
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
$41,696
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
8.34%
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%
$833,920
$833.9K
Cap Rate 7%
$595,657
$595.7K
Cap Rate 9%
$463,289
$463.3K
Market Conditions
NOI Build-Up for 4,905 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
$64.7K $13.20/SF
− Vacancy
−$5.2K −$1.06/SF
EGI
$59.6K $12.14/SF
− OpEx
−$17.9K −$3.64/SF
NOI
$41.7K $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%
$833,920
Cap Rate 7%
$595,657
Cap Rate 9%
$463,289
Alternative Uses
Best Use
Retail
$595.7K
$521.2K – $694.9K
NOI $41,696 @ 7.0% cap · market cap 8.34%
Second Best
Flex RnD
$590.8K
$517.0K – $689.3K
NOI $41,358 @ 7.0% cap · market cap 8.27%
Theoretical Best
Office A
$1.10M
$958.2K – $1.28M
NOI $76,659 @ 7.0% cap · market cap 15.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
100
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 79605, TX
30,239
Population
12,795
Households
2.4
Avg Household Size
35
Median Age
25%
College-Educated
87%
High-School Grad
11.0 sq mi
ZIP Area
2,749
Density / Sq Mi
$59,565
Median Household Income
$33,537
Median Earnings
$1,077
Median Rent
$159,800
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Two renovated buildings offer adaptable workspace, overhead access, and a fenced yard.
Where is this flex space located?
The property is located at 761 Arnold Boulevard 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: 4,905 SF across two buildings on 1.1 acres; Five insulated overhead doors; New central heat and AC, roof, upgraded electrical, and spray foam insulation
