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    248-270 Leggett Dr Abilene, TX 79605

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    For Lease
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    Versatile Office Space, Abilene, TX

    Lot size:
    16,410 SF

    Property Features for 248-270 Leggett Dr

    General Information

    Property type
    Office Units
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    16,410 SF
    Class
    C
    Total Rate
    8205

    Building Details

    Year Built
    1955
    Stories
    1

    Spaces For Lease

    at 248-270 Leggett Dr, Abilene, TX 79605 Contact us
    Unit 270 S Leggett

    $9 /Mo

    Size
    2,450 SF
    Contact us
    Unit Suite 248/250 S Leggett

    $6 /Mo

    Size
    8,196 SF
    Contact us

    We can help!

    Listing Contact
    Erik Paul Johnson
    Erik Paul Johnson

    Listing Agency: Paul Johnson & Associates Listing Agent: Erik Paul Johnson

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

    Learn more

    Overview

    This Abilene, Texas commercial property, located at 248-270 S Leggett, offers 16,410 square feet of flexible space ideal for a variety of businesses. The single-story, 1955-built building is classified as Class C and features a diverse range of potential uses, including traditional office, coworking, creative office, and flex space. Multiple tenancies are available, with a minimum divisible space of 2,450 square feet and a maximum contiguous space of 8,196 square feet. Currently, 10,646 square feet is vacant, presenting a significant opportunity for expansion or new tenants. The property sits on a 0.96-acre lot and boasts ample parking, making it convenient for employees and clients. Zoned GC (General Commercial), this location allows for a wide array of commercial activities, including retail, personal services, and business services. Its central location in the Elm Creek area, south of Business 20, at the intersection of S Leggett and S 1st Street, provides excellent visibility and accessibility. The building lacks elevators. This property is an excellent investment opportunity for businesses seeking a versatile and well-located space in a thriving Abilene community. The property is in Taylor County, Texas, and has a 79605 zip code.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Abilene
    County
    Taylor
    State
    Texas
    Longitude
    -99.77056295
    Latitude
    32.4491393

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    FAQs

    What type of property is this?
    Office units - Versatile Office Space, Abilene, TX
    Where is this office units located?
    The property is located at 248-270 Leggett Dr Abilene, TX.
    What is the lease rate?
    The lease rate is $6-$9 SF/Yr.
    What are key features of this property?
    This property features: Flexible space available for lease.; General commercial zoning.; Abundant on-site parking.
    (325) 698-5661 Call to check price and availability
    Request Owner's contact information
    248-270 Leggett Dr Abilene, TX 79605
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    Abilene, TX 79605
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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
    248-270 Leggett Dr Abilene, TX 79605
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    Contact for Pricing
    Please call us for current price
    and status of this listing Erik Paul Johnson
    Erik Paul Johnson
    Real Estate License ID: 0415535
    (325) 698-5661 (325) 439-0186
    Learn more
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