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Shopping Strip

Abilene Corners

1760-1780 State Highway 351, Abilene, TX 79601

Listing Price: $4,250,000

Cap Rate
5.88%
Gross SF
30,693
Rentable SF
30,693
Price/Gross SF
$138.47
Lot Size
3.64 acres
Year Built
2006

Investment Overview

Marcus & Millichap is pleased to offer the opportunity to acquire a value-add, 30,693-square-foot, Walmart shadow-anchored, multi-tenant retail center located in Abilene, Texas. The center is currently 70 percent occupied, providing upside potential to a future investor by leasing the vacant space. All leases are triple-net. Tenants consist of a complementary mix of national retailers including Dollar Tree, CATO, AT&T, Great Clips, and Jason's Deli. The center was constructed in 2006 and is situated on a 3.65-acre parcel. The subject property is strategically located on State Highway 351 at the northeast quadrant of the intersection of State Highway 351 and Interstate 20. Interstate 20 is a major east/west thoroughfare across the state of Texas connecting the Dallas/Fort Worth metroplex to Midland/Odessa and beyond. Cumulative traffic counts in front of the property exceed 40,700 vehicles per day. The center is shadow-anchored by Walmart Supercenter, which ranks nationally in the 97% percentile for number of annual visitors. Abilene Corners is in close proximity to many other national and regional retailers including Starbucks Coffee, Chick-fil-A, GameStop, Verizon, Dairy Queen, Chili's, Lowe's, Raising Cane's Chicken Fingers, Wingstop, Panda Express, and numerous others. Abilene Corners is near many hotels, providing additional traffic to the area. The center is located less than two miles from Abilene Christian University and less than three miles from Hardin Simmons University. Combined enrollment between the universities exceeds 7,600 students. The surrounding area has a five-mile population of 58,723 residents.

Investment Highlights

  • 30,693-Square Foot, Multi-Tenant Retail Center | All Leases are Triple-Net
  • Value-Add Opportunity | 70% Occupied | Pro Forma Cap Rate is 11.04%
  • Shadow-Anchored by Walmart Supercenter | Strong Walmart Store that Ranks in the 97th Percentile for Number of Visitors to Walmart Locations in the United States (per Placer.ai)
  • Priced at $138 per Square Foot
  • Desirable Highway Location at the Intersection of State Highway 351 and Interstate 20 | Cumulative Traffic Counts Exceed 40,700 Vehicles per Day

Exclusively Listed By

Listing Price: $4,250,000

Cap Rate
5.88%
Gross SF
30,693
Rentable SF
30,693
Price/Gross SF
$138.47
Lot Size
3.64 acres
Year Built
2006

Investment Highlights

  • 30,693-Square Foot, Multi-Tenant Retail Center | All Leases are Triple-Net
  • Value-Add Opportunity | 70% Occupied | Pro Forma Cap Rate is 11.04%
  • Shadow-Anchored by Walmart Supercenter | Strong Walmart Store that Ranks in the 97th Percentile for Number of Visitors to Walmart Locations in the United States (per Placer.ai)
  • Priced at $138 per Square Foot
  • Desirable Highway Location at the Intersection of State Highway 351 and Interstate 20 | Cumulative Traffic Counts Exceed 40,700 Vehicles per Day

Investment Overview

Marcus & Millichap is pleased to offer the opportunity to acquire a value-add, 30,693-square-foot, Walmart shadow-anchored, multi-tenant retail center located in Abilene, Texas. The center is currently 70 percent occupied, providing upside potential to a future investor by leasing the vacant space. All leases are triple-net. Tenants consist of a complementary mix of national retailers including Dollar Tree, CATO, AT&T, Great Clips, and Jason's Deli. The center was constructed in 2006 and is situated on a 3.65-acre parcel. The subject property is strategically located on State Highway 351 at the northeast quadrant of the intersection of State Highway 351 and Interstate 20. Interstate 20 is a major east/west thoroughfare across the state of Texas connecting the Dallas/Fort Worth metroplex to Midland/Odessa and beyond. Cumulative traffic counts in front of the property exceed 40,700 vehicles per day. The center is shadow-anchored by Walmart Supercenter, which ranks nationally in the 97% percentile for number of annual visitors. Abilene Corners is in close proximity to many other national and regional retailers including Starbucks Coffee, Chick-fil-A, GameStop, Verizon, Dairy Queen, Chili's, Lowe's, Raising Cane's Chicken Fingers, Wingstop, Panda Express, and numerous others. Abilene Corners is near many hotels, providing additional traffic to the area. The center is located less than two miles from Abilene Christian University and less than three miles from Hardin Simmons University. Combined enrollment between the universities exceeds 7,600 students. The surrounding area has a five-mile population of 58,723 residents.

Exclusively Listed By

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