Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1005 1St St Hereford, TX 79045

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Prime Hereford Retail Space - High Visibility

    Lot size:
    4,000 SF

    Property Features for 1005 1St St

    General Information

    Property type
    Freestanding property
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    4,000 SF
    Total Rate
    6000

    Building Details

    Year Built
    2017

    Spaces For Lease

    at 1005 1St St, Hereford, TX 79045 Contact us
    Unit Suite A

    $18 /Mo

    Size
    1,929 SF
    Contact us

    We can help!

    Listing Contact
    Justin Kite
    Justin Kite

    Listing Agency: Coldwell Banker Commercial First Equity Listing Agent: Justin Kite

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional freestanding retail property, located at 1005 W 1st Street in Hereford, Texas, presents a unique investment opportunity. Boasting a total of 4,000 square feet, the building was constructed in 2017 and sits on a generous 1.17-acre lot. Currently, 1,929 square feet of retail space is available for lease, offering significant potential for a variety of businesses. The property enjoys a highly desirable location on a major retail and commercial thoroughfare in Deaf Smith County, ensuring excellent visibility and accessibility for customers. Its strategic placement benefits from co-tenancy with established businesses such as Burger King and Cargill, creating a synergistic environment and attracting substantial foot traffic. The building's 2017 construction ensures modern amenities and efficient layouts, ready for immediate occupancy. This prime retail space offers a compelling combination of location, size, and modern construction, making it an ideal choice for businesses seeking a strong presence in the thriving Hereford market. The property's ample lot size also provides potential for future expansion or outdoor amenities. This is a rare opportunity to secure a well-positioned retail space in a growing Texas community. The zip code is 79045.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Freestanding property

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Hereford
    County
    Deaf Smith
    State
    Texas
    Longitude
    -102.40998507
    Latitude
    34.80927919

    Nearby Similar for Lease

    • Contact for pricing
      5,535 SF

      Customizable Retail/Restaurant/Gym Space

      Up to 5,535 SF customizable commercial space available for rent.
      600 N 25 Mile Ave, Hereford, TX 79045
      View Details
    • Contact for pricing
      28,754 SF

      Hereford Retail Center - Prime Location

      Class A Retail Space, 3 Units Available
      701 25 Mile Ave, Hereford, TX 79045
      View Details
    • $22 SF/Yr
      4,160 SF

      Retail Space in Walmart Outparcel

      4,160 SF retail space in a high-traffic Walmart outparcel.
      701 N 25 Mile Ave, Hereford, TX 79045
      View Details

    FAQs

    What type of property is this?
    Freestanding property - Prime Hereford Retail Space - High Visibility
    Where is this freestanding property located?
    The property is located at 1005 1St St Hereford, TX.
    What is the lease rate?
    The lease rate is $18 SF/Yr.
    (806) 354-3500 Call to check price and availability
    Request Owner's contact information
    1005 1St St Hereford, TX 79045
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1005 1St St
    Hereford, TX 79045
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    1005 1St St Hereford, TX 79045
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Justin Kite
    Justin Kite
    (806) 354-3500 (806) 468-4897
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!