Catylist ID: #30680601
SWC N Loop 289 & Memphis - 15 Acres
Vacant Land for Sale
|Catylist Listing ID:||30680601|
|Property Subtypes:||Hospitality, Multi-Family, Office, Retail, Other|
|Gross Land Area:||1 - 15.81 Acres|
|Sale Price:||$5 PSF|
|In Opportunity Zone?||Yes|
|Sale Terms:||Cash to Seller, Purchase Money Mortgage, Other|
Overview / Comments
Property is located along the frontage road of N Loop 289 just east of Quaker Avenue.
15.81 acres of land located in the heart of the rapidly developing North Loop area of Lubbock, TX. The immediate surroundings of the land are teeming with commercial and residential activity. Adjacent to the property to the east is a newly constructed 220-unit independent living center and a 288-unit student housing complex. Additionally, this property is less than one mile from University Medical Center (Texas Tech’s teaching hospital), Texas Tech’s Campus (over 30,000 enrolled students), the Lubbock Heart Hospital, Wayland Baptist University (satelite campus), and a 744-bed student housing complex. This tract may be purchased as a whole or subdivided and is suitable for retail development, multifamily, student housing, office development, or restaurant use.
Property is located within a Qualified Opportunity Zone (QOF). QOF investors can permanently exclude from taxation any capital gains that accrue after their investment in a QOF, if the investment is held for at least 10 years. Opportunity zones increase the basis of any investment held in a QOF for 10 years to 100 percent of its fair market value on the date it is sold or exchanged.
Property is not in the floodplain.
Attachments & Media
|Proximity:||1 mile||3 miles||5 miles|
Beau Tucker CCIMColdwell Banker Commercial Capital Advisors West Texas CIE Member
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