1441 Barrow St Abilene, TX 79605-5126
- Commercial real estate
- 1,500 SF
- 0.45 lot acres
Dec 28, 2023
Current Use by Public Records
- Papa Murphy's | Take 'N' Bake Pizza / Takeout Restaurant / Vegetarian Restaurant
Property Details for 1441 Barrow St
- Year built
- 2013
- Lot size
- 0.45 lot acres
- Property size
- 1,500 SF
- Property type
- Commercial real estate
- APN
- 52530000100
- APU
- 52530000100
Description
This fee-simple retail property in Abilene, Texas, presents a compelling investment opportunity. The 1,500-square-foot building, constructed in 2013, is currently 100% occupied by a Papa Murphy's franchise under an absolute NNN lease expiring September 30, 2027. The property boasts a strong 5.00% cap rate, generating a net operating income (NOI) of $38,400 annually, with a price per square foot of $512. Situated on a 0.45-acre lot at 1441 Barrow St, Abilene, TX 79605, this location benefits from high visibility and proximity to numerous retail establishments including Walgreens, Sonic, Smoothie King, Starbucks, McDonald's, Dunkin', Advance Auto Parts, H&R Block, H-E-B, and Pizza Hut. The short-term lease (2.9 years remaining) offers investors the flexibility to renegotiate lease terms with the existing tenant or explore alternative tenancy options upon lease expiration. No lease options remain. The property is offered as a 1031 exchange opportunity. This is a single-tenant, fee-simple ownership with no ground lease.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Abilene
- County
- Taylor
- State
- Texas
- Longitude
- -99.7589
- Latitude
- 32.4311
- CBSA code
- 10180
- CBSA name
- ABILENE, TX METROPOLITAN STATISTICAL AREA
