Iconic Downtown Lubbock Building For Sale - Ralli House

Retail-Commercial for Sale
Catylist Listing ID: 30543596
Property Subtypes: Free-Standing Building, Mixed Use, Restaurant, Retail-Pad, Tavern/Bar/Nightclub, Other
Building Size (RSF): 12,546 SF
Gross Building Area: See Agent
Sale Price: $950,000
Unit Price: $75.72 PSF
In Opportunity Zone? Yes
Property Use Type: Investment
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: Undisclosed
Last Updated: 1/15/2021

Overview / Comments

One of Lubbock’s most iconic buildings, the Ralli House was constructed in 1930 and spans 12,546 square feet over two floors (6,273 SF per floor). Located between the newly constructed Buddy Holly Hall of Performing Arts and Citizens Tower, near redevelopment/construction at the Civic Center and Metro NTS Tower, and across the street from 220 units of graduate student housing with anticipated groundbreaking in January 2021, this property primely positioned in the middle of today’s downtown resurgence.

This historically-designated building features original wood trim and Terrazzo floors with rolled cove throughout, and walk-in safes on both floors. Aesthetics also include arts and crafts tiles. This listing also includes 45 parking spots on four adjacent lots. Could be sub-divided for multi-purpose. Property is eligible for LEDA improvement grants.

Please see floor plan in documents and images.

Call Jay Leeson for a viewing today!

Attachments & Media

Additional Details

Nearest MSA: Lubbock
County: Lubbock
Tax ID/APN: R102584
Tenancy: Multiple Tenants
Year Built: 1930
Roof Type: Flat
Construction/Siding: Brick
Parking Type: Surface
Parking Description: 45 parking spots on 4 adjacent lots
Sprinklers: None
Heat Type: Electricity, Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,082 77,915 170,452
Median Age: 29.37 28.91 31.64
Households: 2,693 27,314 64,592

Contact

Photograph of Listing Agent

Jay Leeson

McDougal, REALTORS®
West Texas CIE Member
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