NNN Investment Building

Office for Sale
Catylist Listing ID: 30256029
Property Subtypes: Office Building
Building Size (RSF): 13,084 SF
Gross Building Area: See Agent
Sale Price: $2,570,000
Unit Price: $196.42 PSF
Property Use Type: Net Leased Investment (NNN), Investment, Vacant/Owner-User
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/29/2018

Overview / Comments

Unique investment opportunity offering an absolute NNN (10) year lease with (2) Five year renewals. The current tenant owns 10 local learning centers and controls about 80% of the child care market in the Lubbock area. The subject property features a 13,084 SF building located on Frankford Avenue between Erskine & 4th Street in growing Northwest Lubbock . Property neighbors the Shadow Hills golf course, newly built United Supermarket, Wal-mart, and several new residential housing developments. Easy access to Loop 289 & Clovis Highway 84. Property was upgraded in 2015 with (2) new HVAC systems, kitchen equipment, play ground, landscaping & equipment, sprinkler system, and a security alarm/video system with a key fob.

Best in Class Tenant- Owning 10 Successful Daycare Locations
Ten Year Absolute NNN Lease
(2) Five Year Options to Renew
Stable Cash Flow Asset
Dense Residential

Attachments & Media

Additional Details

Nearest MSA: Lubbock
County: Lubbock
Zoning: C2
Year Built: 1984

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,255 49,245 136,405
Median Age: 24.2 29.68 29.81
Households: 2,672 20,182 53,439

Contact

Photograph of Listing Agent

David Powell, CCIM

The Powell Group at Keller Williams Commercial
West Texas CIE Member
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