Retail Strip Center on
For Sale
$1,900,000
3398 North 1st Street, Abilene, TX 79603
Signalized corner retail center with direct access to I-20 and frontage along a primary north Abilene commercial corridor.
Property Size13,982 SF
Days on Market102
Property Features for 3398 North 1st Street
General Information
Standard status
Active
Size
13,982 SF
Property subtype
Multitenant Retail
Additional Details
Highway Access
Yes
Building Details
Building Size
13,982 SF
Year Built
1960
Listing Agency:
SVN | Trinity Advisors
Listed By:
Eliud Sangabriel, CCIM · License #0589027
(972) 839-0590
Source:
Svn
Added: Jul 13
Changed: Oct 21
Last Checked: Oct 20 at 5:31PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SVN | Trinity Advisors
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This retail strip center is positioned on a signalized corner and sits along a primary north Abilene commercial corridor on N. 1st Street. The offering includes retail space within the center and benefits from direct access to I-20.
The location is designed to serve residents north of downtown as well as interstate travelers. The nearby area includes a range of demand drivers such as Hendrick Medical Center, Abilene High School, Texas Tech Health Sciences Center, Abilene Christian University, and Dyess AFB commuter activity, along with additional downtown employment.
Nearby retailers include 7-Eleven, Dollar General, Harbor Freight, O’Reilly, United Supermarkets, Sonic, CVS, Walgreens, H-E-B, McDonald’s, and additional local service and retail options that support consistent retail traffic.
The location is designed to serve residents north of downtown as well as interstate travelers. The nearby area includes a range of demand drivers such as Hendrick Medical Center, Abilene High School, Texas Tech Health Sciences Center, Abilene Christian University, and Dyess AFB commuter activity, along with additional downtown employment.
Nearby retailers include 7-Eleven, Dollar General, Harbor Freight, O’Reilly, United Supermarkets, Sonic, CVS, Walgreens, H-E-B, McDonald’s, and additional local service and retail options that support consistent retail traffic.
Key Highlights
- Signalized corner retail center with frontage on N. 1st Street, an established Abilene commercial corridor
- Direct access to I‑20 with access to US 83/84 and Highway 277
- Year built: 1960
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$118,858
Cap Rate
6.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,377,160
$2.4M
Cap Rate 7%
$1,697,971
$1.7M
Cap Rate 9%
$1,320,644
$1.3M
Market Conditions
NOI Build-Up for 13,982 SF
Gross rent
$184.6K $13.20/SF
− Vacancy
−$14.8K −$1.06/SF
EGI
$169.8K $12.14/SF
− OpEx
−$50.9K −$3.64/SF
NOI
$118.9K $8.50/SF
Area
Abilene, TX
Vacancy
8.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,377,160
Cap Rate 7%
$1,697,971
Cap Rate 9%
$1,320,644
Alternative Uses
Best Use
Retail
$1.70M
$1.49M – $1.98M
NOI $118,858 @ 7.0% cap · market cap 6.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.12M
$2.73M – $3.64M
NOI $218,522 @ 7.0% cap · market cap 11.50%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3
Businesses Nearby
Explore this area
Business Placement
Demographics for 79603, TX
23,746
Population
9,960
Households
2.4
Avg Household Size
35
Median Age
17%
College-Educated
83%
High-School Grad
59.2 sq mi
ZIP Area
401
Density / Sq Mi
$53,579
Median Household Income
$32,339
Median Earnings
$1,022
Median Rent
$114,000
Median Home Value
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Strip mall - Signalized corner retail center with direct access to I-20 and frontage along a primary north Abilene commercial corridor.
Where is this strip mall located?
The property is located at 3398 North 1st Street Abilene, TX.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Signalized corner retail center with frontage on N. 1st Street, an established Abilene commercial corridor; Direct access to I‑20 with access to US 83/84 and Highway 277; Year built: 1960
