Add Listing
    For Sale
    • 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

    473 Cypress St Abilene, TX 79601

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

    Historic Charm, Prime Location, High ROI

    Property size:
    14,000 SF

    Property Features for 473 Cypress St

    General Information

    Property type
    Office properties & Spaces
    Square Feet
    14,000 SF
    Lot Size
    6,534 SF

    Building Details

    Year Built
    1954

    We can help!

    Listing Contact
    Wes Gotcher
    Wes Gotcher

    Listing Agency: Moriah Real Estate Company, LLC Listing Agent: Wes Gotcher

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

    Learn more

    Property Insight Report

    Overview

    This exceptional two-story office building, located at 473 Cypress Street in Abilene, Texas, presents a unique investment opportunity. Spanning 14,000 square feet on a 0.15-acre lot, this fully leased property boasts a prime location in the heart of Abilene's historic downtown, just steps from the Abilene Convention Center, the First Financial building, and the new DoubleTree by Hilton hotel. Built in 1954, the building retains its historic charm with meticulously maintained features, including iconic terrazzo floors in the common areas. The property offers 24 private offices, two conference rooms, three classrooms, and three breakrooms, along with full-service bathrooms on both floors. Its strategic corner location at Cypress and North 5th streets offers unparalleled visibility and benefits from the city's planned expansion of Cypress Street. Currently fully leased, this property provides immediate income and significant value-add potential for investors seeking to capitalize on Abilene's thriving market. The asking price is $875,000, representing a price per square foot of $62.50. This is a rare chance to acquire a piece of Abilene's rich heritage while enjoying modern functionality and a strong return on investment. The property's zip code is 79601.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    The Kiwanis Club of Abilene Volunteer Organization Big Country Soccer ... Sports School Texas EMS School Training Center EMOT Federal Credit ... Credit Union MedCollect Financial Consultant

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Abilene
    County
    Taylor
    State
    Texas
    Longitude
    -99.7335226
    Latitude
    32.4534817

    Nearby Similar for Sale

    • $499,900
      3,300 SF

      Downtown Abilene Executive Office Building

      Two-story office building with modern amenities and historical character.
      441 Butternut St, Abilene, TX 79602
      View Details
    • New
      $374,000
      0.77 Acres

      Versatile Commercial Property in Abilene

      Commercial property with office, storage, and ample parking.
      1699 Treadaway Blvd, Abilene, TX 79601
      View Details
    • $450,000
      0.16 Acres

      Downtown Abilene Commercial Property

      Prime location with showroom and warehouse space.
      627 Pine St, Abilene, TX 79601
      View Details
    • $300,000
      400 SF

      Abilene Retail Opportunity on Corner Lot

      Commercial property on a corner lot near major landmarks.
      4840 N 10Th St, Abilene, TX 79603
      View Details
    • $595,000
      8,310 SF

      Renovated Iconic Building For Sale

      Renovated 8,310 SF building with high visibility in Abilene.
      1305 S 1St St, Abilene, TX 79602
      View Details
    • $350,000
      0.32 Acres

      Office Space Near Hendrick Medical

      Professional office space near Hendrick Medical Center in Abilene, TX.
      1202 Hickory St, Abilene, TX 79601
      View Details
    • $245,000
      6,400 SF

      Abilene Warehouse with Retail Potential

      Warehouse with office space, loading docks, and retail potential.
      4047 N 1St St, Abilene, TX 79603
      View Details
    • New
      $250,000
      6,000 SF

      Abilene Retail Investment Opportunity

      6,000 SF retail building with development potential in Abilene, TX.
      817 Butternut St, Abilene, TX 79602
      View Details
    • $370,000
      0.55 Acres

      Versatile Commercial Space in Abilene, TX

      Commercial property with drive-through capability, ideal for various business ventures.
      1917 S 20Th St, Abilene, TX 79602
      View Details
    • New
      $465,000
      1.43 Acres

      Former Church Building on 1.425 Acres

      Well-maintained 12,000+ SF former church building on 1.425 acres.
      2502 Minter Ln, Abilene, TX 79603
      View Details
    • $395,000
      19,260 SF

      Historic Mixed-Use Redevelopment Opportunity

      Three-story brick building in Abilene, TX, prime for redevelopment.
      1315 S 1St St, Abilene, TX 79602
      View Details
    • $250,000
      1.21 Acres

      Versatile Commercial Building on Acreage

      Large commercial building on over an acre, endless potential.
      4223 N 1St St, Abilene, TX 79603
      View Details

    FAQs

    What type of property is this?
    Office property - Historic Charm, Prime Location, High ROI
    Where is this office property located?
    The property is located at 473 Cypress St Abilene, TX.
    What is the asking price?
    The asking price for this property is $875,000.
    What are key features of this property?
    This property features: Prime downtown Abilene location, one block from the Abilene Convention Center, First Financial building, and the new DoubleTree hotel.; Fully leased, offering immediate income and value-add potential in a thriving market.; 24 private offices.
    (432) 682-2510 Call to check price and availability
    Request Owner's contact information
    473 Cypress St Abilene, TX 79601
    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.
    473 Cypress St
    Abilene, TX 79601
    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
    473 Cypress St Abilene, TX 79601
    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 Wes Gotcher
    Wes Gotcher
    (432) 682-2510 (432) 853-9783
    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!