473 Cypress St Abilene, TX 79601
- Commercial real estate
- 14,000 SF
- 0.16 lot acres
Current Use by Public Records
- The Kiwanis Club of Abilene / Volunteer Organization
- Big Country Soccer Association / Soccer Club
- Texas EMS School / Training Centre / Association / Organization
- EMOT Federal Credit Union / Federal Credit Union
- MedCollect Financial / Consultant
Property Details for 473 Cypress St
- Year built
- 1954
- Lot size
- 0.16 lot acres
- Property size
- 14,000 SF
- Property type
- Commercial real estate
- APN
- 70100030500
- APU
- 70100030500
Description
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.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $420,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $475,000
- 6.5%
- $470,000
- 7%
- $525,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $530,000
- Geo Method
- $570,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $465,000
- Retail
- $495,000
- Mixed-Use
- $450,000
- Hospitality
- $545,000
- Educational
- $430,000
- Residential Income
- $425,000
- Energy
- $535,000
- Income-Based Land
- $565,000
- Food Service
- $540,000
Location Insight
- Map
- Local Demand
- City
- Abilene
- County
- Taylor
- State
- Texas
- Longitude
- -99.7335
- Latitude
- 32.4535
- CBSA code
- 10180
- CBSA name
- ABILENE, TX METROPOLITAN STATISTICAL AREA
