Catylist ID: #30518316
11% Cap Rate - Restaurant with tenant for sale
Retail-Commercial for Sale
|Catylist Listing ID:||30518316|
|Building Size (RSF):||6,310 SF|
|Gross Land Area:||47,946 SF|
|Unit Price:||$182.25 PSF|
|Property Use Type:||Net Leased Investment (NNN), Business|
|Usable Size (USF):||6,928 SF|
|Sale Terms:||Cash to Seller|
Overview / Comments
Iconic Lubbock restaurant location has a longterm lease and is currently for sale, including an additional acre of land adjacent to the property. Extra land can be sold separate or as a package.
This property is conveniently located in central Lubbock in the hard corner of 50th and Utica Ave. This high-end restaurant boats over 6,300 sqft with an approximate 600 sqft patio.
With over an acre of land on the main property, there is ample parking leading to the beautiful stucco facade and entrance canopy. As you go through the foyer, you are greeted with an open waiting area. To the right is a large bar are with seating for 60 and live music. Off the bar is an outdoor patio with seating for 40. Opposite the bar inside you will find the main dining area with seating for 140, plus a private dining room for events or overflow.
See graphic for the additional acreage for sale adjacent to the restaurant property.
Contact listing agent today for a private showing or information on tenant.
Attachments & Media
|Finance Data Year||2019|
|Real Estate Taxes - Annual($)||$16,325 (Annual)|
|Tax Value Land||$191,784|
|Tax Value Improvements||$558,968|
|Assessed Value - Total($)||$750,752 (Annual)|
|Potential Rental Income||$174,000 (Annual)|
|Net Operating Income||$126,000 (Annual)|
|Taxing Authority:||Lubbock CAD|
|Property Located Between:||50th and Utica Avenue|
|Largest Nearby Street:||50th Street|
|Feet of Frontage:||150|
|Total Number of Buildings:||1|
|Number of Stories:||1|
|Typical SF / Floor:||6,310 SF|
|Total Parking Spaces:||90|
|Parking Description:||Also over 140 spots available on adjacent land for sale|
|Heat Type:||Natural Gas|
|Air Conditioning:||Engineered System|
|Legal Description:||GORDON HTS TR A1|
|Proximity:||1 mile||3 miles||5 miles|
Jeremy SteenMcDougal, REALTORS
West Texas CIE Member
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