3398 N 1St St Abilene, TX 79603

The Shops at Northpark, a 40,919-square-foot multi-tenant retail center in Abilene, Texas, presents a compelling value-add opportunity. Currently 46% occupied, this property boasts five tenants, a mix of internet-resistant and service-oriented businesses, including Planet Smokie & Vape, Kung Fu China, Payment One Financial, Creative Cakes, and Pam's Pet Store. Situated on 2.7 acres at a signalized intersection with over 39,700 vehicles daily, the center benefits from high visibility and ample parking. Recent renovations totaling approximately $1.5 million include exterior façade improvements, parking lot repaving, new LED lighting, and updated signage. Built in 1955, the property offers significant upside potential through lease-up of vacant spaces and lease conversion to triple-net terms. The current asking price is $2,995,000 ($73.19/sq ft), with a pro-forma cap rate of 14.78% and a pro-forma NOI of $442,630. The property's location near Abilene High School and a densely populated area (108,078 residents within a five-mile radius) further enhances its appeal. Proximity to Dyess Air Force Base and several universities adds to the strong economic base of the area. This property offers a rare chance to acquire a well-located retail center with substantial growth potential in a thriving Texas market. The property consists of one building with ten units.