Catylist ID:
#30388413
| Catylist Listing ID: | 30388413 |
| Property Subtypes: | Office Building |
| Building Size (RSF): | 11,905 SF |
| Gross Building Area: | See Agent |
| Gross Land Area: | 37,646 SF |
| Sale Price: | $710,000 |
| Unit Price: | $59.64 PSF |
| Property Use Type: | Investment |
| Class of Space: | Class B |
| Sale Terms: | Cash to Seller |
| Cap Rate: | 7.24% |
| Average Occupancy Rate: | 93 |
| Last Updated: | 3/18/2020 |
Overview / Comments
|
Summit Place also houses, The Fortress, a private underground safe deposit box vault business. The business can be purchased in addition to the real estate. The seller will require a long-term lease back of the Fortress space if the business is retained. High Occupancy Rate Diverse Tenant Mix with Many Long-Term Tenants Recent Renovations Made to Much of the Building Value-Add Opportunity with Additional Renovations and Rent Increases Great Location - Easy Access to Loop 289 |
Attachments & Media
Additional Details
| Nearest MSA: | Lubbock |
| County: | Lubbock |
| Tax ID/APN: | R55402 |
| Zoning: | C-2 |
| Site Description: | Conveniently located just outside Loop 289, only one black west of Indiana Avenue. |
| Total Number of Buildings: | 1 |
| Number of Stories: | 1 |
| Year Built: | 1979 |
| Year Renovated: | 2016 |
| Construction/Siding: | Brick |
| Parking Type: | Surface |
| Water Service: | Municipal |
| Sewer Type: | Municipal |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 13,961 | 120,879 | 195,918 |
| Median Age: | 41.44 | 34.27 | 32.22 |
| Households: | 5,893 | 49,035 | 76,243 |
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