Investment Overview

Marcus & Millichap Real Estate Investment Services is pleased to offer for sale the fee simple ownership interest in 3444 North 1st Street, in Abilene, Texas. The property’s major tenants include the Railroad Commission of Texas, Meers Engineering, Attorney General’s Office, and NCS Pearson Inc. The subject office building was built in 1981 and is positioned as a value-add property that is currently operating at approximately 57 percent occupied nearly 20 percent below submarket vacancy of 86 percent. This presents a unique opportunity for a value-add buyer to position the property back to stabilized cash flow producing property at well below replacement cost of $25 per square foot. Ideally this could also be a great opportunity for an owner user who is looking to occupy a portion of the space while collecting rent from current tenants that approximately cover building expenses. The multi-tenant office building has approximately 100,374 of rentable square feet. Located at 3444 North 1st Street, Abilene, Texas, the office building consists of 22 suites, and 57 percent of the property is occupied. The property is conveniently situated approximately a mile-and-a-half from I-30, allowing for easy access to the property. 3444 North 1st Street sees a moderate estimated annual average daily traffic count of 9,031 vehicles. 3444 North 1st Street office building benefits from strong demographics, serving a five-mile population of approximately 105,102 residents with a five-mile average household income exceeding $61,293.