Investment Overview

The Shops at Northpark is an 40,919-square-foot, multi-tenant neighborhood retail center in Abilene, Texas. The center is currently 46 percent occupied with a mix of lease types, providing significant upside potential in leasing the remaining vacancies and converting all leases to triple-net terms. Tenants are a complementary 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. The subject property is situated on 2.7 acres with ample paved parking and a double-sided monument sign for added visibility. Originally constructed in 1955, the landlord has recently completed extensive renovations, including remodeling the exterior façade, repaving and restriping the parking lot, installing new LED pole lights, new signage, and more. The Shops at Northpark is located at the signalized, hard corner intersection of North 1st Street and Willis Street. Cumulative traffic counts are approximately 39,700 vehicles per day. Neighboring national and regional retailers include Buddy's Home Furnishing, EZ Pawn, Cricket Wireless, Harbor Freight Tools, A-MAX Auto Insurance, Subway, McDonald's, Goodwill West Texas, and many others. Abilene High School, with a current enrollment of approximately 1,966 students, is located less than a mile behind the subject property, providing additional traffic to the area. The surrounding area benefits from being located in a densely populated area, serving 108,078 residents within a five-mile radius.