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    The Largest CRE Database in the US with Over 1 Million Listings

    402 North St Buffalo Gap, TX 79508

    Sponsored
    For Sale
    $625,000

    Texas Town Investment Opportunity: Restaurant, Bungalows, 2 Acres

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    410
    This exceptional Texas commercial property, located at 402 North Street in Buffalo Gap (zip code 79508), presents a rare investment opportunity. Situated on a spacious two-acre lot, the property boasts a fully operational restaurant, ready to serve the local community and tourists. In addition to the restaurant, the property includes several charming bungalows, providing comfortable lodging options. The expansive grounds offer significant potential for expansion and development. Imagine adding more lodging units, creating event spaces, or developing recreational amenities to capitalize on the property's unique appeal. The existing structures are well-maintained and contribute to the property's overall value. This versatile property is ideally suited for an investor or entrepreneur seeking a unique and profitable venture in a historic Texas town. The asking price is $625,000. The property is classified as industrial and land, with warehouse and commercial subtypes. While the square footage of the buildings is not currently specified, the substantial land area provides ample room for future growth and development. This is a truly unique opportunity to acquire a well-established business with significant expansion potential in a desirable location. The property's prime location in Buffalo Gap, Taylor County, Texas offers easy access to local amenities and attractions.

    Property Features for 402 North St

    General Information

    Property type
    Distribution properties

    We can help!

    Listing Contact
    Kristen Dressen Kyker
    Kristen Dressen Kyker

    Learn more

    Property Insight Report

    HighLights

    • $625,000 asking price.
    • Industrial land and warehouse property.
    • 2‑acre lot in Buffalo Gap, TX.
    • Includes a restaurant and bungalows.
    • Potential for expansion.
    Property Profile Location Intelligence

    Current Use by Public Records

    Deep'n the Heart Association Or Organization

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Nail Salon Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Buffalo Gap
    County
    Taylor
    State
    Texas
    Longitude
    -99.8258114
    Latitude
    32.2858175

    Nearby Comparable

    • $250,000

      Buffalo Gap Commercial Land Opportunity

      Texas Warehouse & Residential Potential
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    • $675,000
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      Versatile Office Building in Buffalo Gap

      Two-story office building with flexible space near Abilene, Texas.
      321 N West St, Buffalo Gap, TX 79508
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    • $1,330,240
      83.14 Acres

      83.14 Acres in Buffalo Gap

      Fenced land with tanks, wildlife, and development potential.
      Tbd County Rd 330, Buffalo Gap, TX 79508
      View Details
    • $212,046
      0.81 Acres

      Abilene, TX Pad Site

      0.81 acre pad site on FM 89 in Abilene.
      4 Fm 89, Abilene, TX 79606
      View Details

    Nearby Similar for Sale

    • $675,000
      0.23 Acres

      Versatile Office Building in Buffalo Gap

      Two-story office building with flexible space near Abilene, Texas.
      321 N West St, Buffalo Gap, TX 79508
      View Details

    FAQs

    What type of property is this?
    Distribution property - Texas Town Investment Opportunity: Restaurant, Bungalows, 2 Acres
    Where is this distribution property located?
    The property is located at 402 North St Buffalo Gap, TX.
    What is the asking price?
    The asking price for this property is $625,000.
    What are key features of this property?
    This property features: $625,000 asking price.; Industrial land and warehouse property.; 2-acre lot in Buffalo Gap, TX.
    Request Owner's contact information
    402 North St Buffalo Gap, TX 79508
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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
    402 North St Buffalo Gap, TX 79508
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    We can help!
    Listing Contact
    Kristen Dressen Kyker
    Kristen Dressen Kyker
    Real Estate License ID: TX
    Learn more
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