Historic Two-Story Office
For Sale
$599,000
774 Butternut Street, Abilene, TX 79602
Professional office layout includes multiple work areas, three half bathrooms, and a kitchen with pantry.
Property Size4,192 SF
Price / SF$142.89
Days on Market50
Property Features for 774 Butternut Street
General Information
Standard status
Active
Size
4,192 SF
Property subtype
Business
Building Details
Year Built
1925
Listing Agency:
McCullar Properties Group LLC
(325) 665-4037
Listed By:
Kristi McCullar · License #0701543
Source:
Lonestarluxuryrealty
Added: Aug 30
Changed: Oct 15
Last Checked: Oct 16 at 8:52AM
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 McCullar Properties Group LLC
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Investment Insights
Based on property information with market context.
Built in 1925, this two-story office building combines historic architectural details with a practical professional layout. The 4,192-square-foot property contains eight office spaces, three half bathrooms, and a kitchen with a butler’s pantry. Original hardwood floors, abundant windows, and a large front porch add distinctive character to the building.
The property is listed on the Abilene Register of Historic Homes and includes dedicated paved parking. The parking area is identified as a separate parcel and must be added to the contract separately. The configuration provides a mix of individual work areas and adaptable rooms for office operations, meetings, or conferences.
The property is listed on the Abilene Register of Historic Homes and includes dedicated paved parking. The parking area is identified as a separate parcel and must be added to the contract separately. The configuration provides a mix of individual work areas and adaptable rooms for office operations, meetings, or conferences.
Key Highlights
- 4,192‑square‑foot two‑story office building constructed in 1925
- Eight office spaces arranged across two floors
- Three half bathrooms plus kitchen with butler’s pantry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,500
Cap Rate
7.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$930,000
$930.0K
Cap Rate 7%
$664,286
$664.3K
Cap Rate 9%
$516,667
$516.7K
Market Conditions
NOI Build-Up for 4,192 SF
Gross rent
$72.9K $17.40/SF
− Vacancy
−$10.9K −$2.61/SF
EGI
$62.0K $14.79/SF
− OpEx
−$15.5K −$3.70/SF
NOI
$46.5K $11.09/SF
Area
Abilene, TX
Vacancy
15.00%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$930,000
Cap Rate 7%
$664,286
Cap Rate 9%
$516,667
Alternative Uses
Best Use
Office B
$664.3K
$581.3K – $775.0K
NOI $46,500 @ 7.0% cap · market cap 7.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$935.9K
$819.0K – $1.09M
NOI $65,516 @ 7.0% cap · market cap 10.94%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
948
Businesses Nearby
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
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Professional office layout includes multiple work areas, three half bathrooms, and a kitchen with pantry.
Where is this office building located?
The property is located at 774 Butternut Street Abilene, TX.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 4,192‑square‑foot two‑story office building constructed in 1925; Eight office spaces arranged across two floors; Three half bathrooms plus kitchen with butler’s pantry
