Abilene Shopping Center I

3398 North 1st Street, Abilene, TX 79603

Accepting Offers

Asking Price

$2,026,126

Abilene Shopping Center I

3398 North 1st Street, Abilene, TX 79603

Details

Asset Type: Real Estate

Estate: Leasehold

Year Built: 1960

Land Area: 1.25 Acres

Property Size: 17,570 SF

Property Type: Retail

Occupancy %: 69.41

Year Renovated: 2023

Number of Units: 6

Investment Highlights

Value-add neighborhood shopping center in North Abilene
17,570 SF retail center with immediate upside potential
Approximately 69.4% occupied with stable in-place cash flow
3,588 SF available for lease-up and NOI growth
Projected 9.8% pro forma cap rate upon stabilization
NNN lease structure with tenant reimbursement of operating expenses
Extensive recent capital improvements including Class A-style façade, parking lot upgrades, LED lighting, and exterior enhancements
Incoming restaurant tenant completing build-out, expected to open soon
Excellent visibility along N. 1st Street with convenient access to Interstate 20
Located within an established retail corridor surrounded by national and regional retailers
Strong regional economy supported by healthcare, education, military, and technology employment
Positioned to benefit from the multi-billion-dollar OpenAI "Stargate" AI Data Center investment in Abilene
Ideal opportunity for private investors, family offices, and 1031 exchange buyers seeking current income with value-add upside

The Shops At Northpark I

North Abilene Retail Corridor Primary Trade Corridor: N. 1st Street is one of Abilene's established commercial corridors. Direct access to I-20. Serves residents north of downtown plus interstate travelers. Nearby Demand Drivers: Hendrick Medical Center Abilene High School Texas Tech Health Sciences Center Abilene Christian University Dyess AFB commuters Downtown employment Retail Synergy Nearby retailers: 7-Eleven Dollar General Harbor Freight O'Reilly United Supermarkets Sonic CVS Walgreens H-E-B McDonald's Transportation Highlight: I-20 access US 83/84 Highway 277 Regional airport Consumer Draw The center serves: Daily commuters Healthcare employees Students Neighborhood residents Service businesses Regional visitors

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