451 Pine StAbilene, TX 79601

  • Other commercial real estate
  • 97,151 SF
For Sale
$1,500,000 View listing

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
451 Pine St, Abilene, Texas

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$12,946
$222,075
$339,543
$561,618
-
$222,075
$339,543
$561,618

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