451 Pine StAbilene, TX 79601
- Other commercial real estate
- 97,151 SF
Property Details for 451 Pine St
- Year built
- 1954
- Lot size
- 0.64 AC
- Property size (Sq ft)
- 97,151 SF
- Property type
- Other commercial real estate
- APN
- 70100029400
- APU
- 70100029400
Description
This exceptional redevelopment opportunity presents a unique chance to acquire a substantial mixed-use property in the heart of Abilene, Texas. Located at 451 Pine St, this five-story, 97,151 square foot building sits on a 0.64-acre lot (APN 24694) and offers a compelling blend of retail, office, and garage space. Currently vacant, the property boasts 90 units, including approximately 10,000 square feet of ground-floor parking. The upper four floors have historically served as office and multi-functional space, with 14 retail units on the ground floor. Built in 1954, this Class D building presents a blank canvas for a visionary developer. Its strategic location within Abilene's cultural district places it in close proximity to key landmarks, including the recently renovated Windsor Hotel, the U.S. Post Office/Federal Building, First Financial Bank Headquarters, City Hall, and numerous restaurants, bars, and shops. The property benefits from its designation within an Opportunity Zone and a Tax Increment Reinvestment Zone (TIRZ), and is C-Pace eligible. It may also qualify for a Historical Designation, adding further investment potential. The asking price is $1,500,000 ($15.44/sq ft). This is a rare chance to contribute to the ongoing revitalization of downtown Abilene while capitalizing on a significant real estate opportunity. The permitted zoning is CB.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
Alternative Use
- Use
- Valuation
- Residential
- $30,635,200
- Hospitality
- $28,061,678
- Educational
- $23,346,986
- Medical
- $24,149,926
- Retail
- $36,317,536
Location Insight
- City
- Abilene
- County
- Taylor
- State
- Texas
- Latitude
- 32.4532
- Longitude
- -99.7323
- CBSA code
- 10180
- CBSA name
- ABILENE, TX METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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