Sunshine Square

Shopping Center for Sale
Catylist Listing ID: 30601320
Property Subtypes: Strip Center
Building Size (RSF): 25,370 SF
Gross Building Area: See Agent
Sale Price: $1,925,000
Unit Price: $75.88 PSF
Property Use Type: Investment
Building Name: Sunshine Square
Sale Terms: Cash to Seller
Cap Rate: 8.2%
Last Updated: 5/11/2020

Overview / Comments

The subject property is very well-located in central Lubbock. Sunshine Square has frontage along the highly trafficked 50th Street that has nearly 20,000 vehicles per day. Several tenants such as America's Hair Design, Saigon Cafe, Flooring America, and Pocket Full of Stitches have been in the retail center for at least 18 years. The tract offers plenty of parking for tenants. Significant value-add opportunity to convert leases to NNN lease structure and raise rental rates.

The subject property is located in Lubbock, TX (known as the "Hub City") that has a metropolitan population of 300,000+ and a regional population of 600,000+. Lubbock's retail commerce and banking sectors have drawn in residents from all across the Texas Panhandle and even from eastern New Mexico. Lubbock is a travel and destination hub for many retail shoppers in the surrounding region. Lubbock is home to major economic drivers such as Texas Tech University, Texas Tech Health Sciences Center, Covenant Hospital, Lubbock Christian University, South Plains College, and agriculture.

Attachments & Media

Additional Details

Nearest MSA: Lubbock
County: Lubbock
Tax ID/APN: R124589
Property Located Between: Quaker Avenue and Slide Road
Largest Nearby Street: 50th Street
Year Built: 1973

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 19,148 142,160 217,363
Median Age: 33.12 32.9 32.03
Households: 7,810 56,799 84,530

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