3511 North Frankford

Industrial for Sale
Catylist Listing ID: 30660633
Property Subtypes: Flex Space, Light Industrial, Self Storage, Warehouse/Distribution
Building Size (RSF): 26,000 SF
Gross Building Area: See Agent
Sale Price: $1,550,000
Unit Price: $59.62 PSF
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/22/2020

Overview / Comments

Retail/Industrial Investment with stackyard on 4 acres with fully leased Industrial shops on the back 2 acres of the property. The property offers 26,000 total SF with (10) new industrial shops built in 2016. Shop sizes range from 2,000 - 2,500 SF each with 14' x 12' overhead insulated doors with a bathroom in each unit. Shops separately metered & equipped with 50 Amp electric with fiber optic capability.
The property has 3 septics, and 1 water well.

The property is situated on the West side of North Frankford and offers a 2,000 SF Retail shop and a 100 x 36 Quonset Hut which is currently occupied by the seller. The owner is retiring and selling property. Property has a billboard that produces an additional annual income of $1,000.

There are many investment possibilities, please see this full brochure with actual rent roll and proformas for the following investment potential.

Investment Option A: New owner can occupy front 2 acres with shop & Quonset Hut while collecting income from existing (10) fully leased Industrial shops. (see attached actual rent roll)

Investment Option B: A new owner can lease the front shops (previously occupied by the seller) for approximately $2,000 monthly & sell frontage for Commercial development. Can also add (5) additional shops on the rear portion of the property to increase rent roll. (see proforma B)

Investment Option C: A new owner can use front 2 acres to build a new set of (15) industrial shops increasing the income for the investment. (see proforma C)

Attachments & Media

Additional Details

Nearest MSA: Lubbock
County: Lubbock
Tax ID/APN: R133164

View FullscreenMap

Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 18,015 88,722
Median Age: 28.86 28.72
Households: 7,362 33,699

Contact

Photograph of Listing Agent

David Powell, CCIM

The Powell Group at Keller Williams Commercial
West Texas CIE Member
© Copyright 2001-2020 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Lubbock Association of REALTORS┬« nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.