Retail Strip Center on
For Sale
$2,026,126
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 Size17,570 SF
Days on Market57
Property Features for 3398 North 1st Street
General Information
Standard status
Active
Size
17,570 SF
Property subtype
Retail
Additional Details
Highway Access
Yes
Building Details
Building Size
17,570 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: Aug 31
Last Checked: Sep 7 at 6:48AM
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
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$149,359
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.37%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,987,180
$3.0M
Cap Rate 7%
$2,133,700
$2.1M
Cap Rate 9%
$1,659,544
$1.7M
Market Conditions
NOI Build-Up for 17,570 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$231.9K $13.20/SF
− Vacancy
−$18.6K −$1.06/SF
EGI
$213.4K $12.14/SF
− OpEx
−$64.0K −$3.64/SF
NOI
$149.4K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,987,180
Cap Rate 7%
$2,133,700
Cap Rate 9%
$1,659,544
Alternative Uses
Best Use
Retail
$2.13M
$1.87M – $2.49M
NOI $149,359 @ 7.0% cap · market cap 7.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.92M
$3.43M – $4.58M
NOI $274,598 @ 7.0% cap · market cap 13.55%
Zoning and permitted uses should be independently verified with authorities.
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
Questions? Ask Rey
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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 $2,026,126.
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
