Historical Downtown Building - Build to Suit

Retail-Commercial for Sale
Also listed as Industrial
Catylist Listing ID: 30594528
Property Subtypes: Mixed Use, Restaurant, Tavern/Bar/Nightclub
Building Size (RSF): 16,000 SF
Gross Land Area: 0.90 Acres
Sale Price: See Agent
Ceiling: 32 ft.
In Opportunity Zone? Yes
Property Use Type: Business
Building Name: LP&L Power Plant
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/6/2020

Overview / Comments

Now available for sale!!! This is a one of a kind opportunity with the most unique property in the heart of Lubbock's Downtown Art District. Located on the NE corner of 5th and Avenue J across from the Charles Adams Studio, this property is on the Art Trail and mere walking distance from the Lubbock Memorial Civic Center and the new $180M Buddy Holly performing arts center. Lubbock's original power plant is a truly unique commercial space with an abundance of character and history.

This local landmark is currently being redeveloped with "adaptive reuse" to blend historic character with modern elements, highlighting the spirited past of the power and water distribution plant by restoring many of the original finishes to create an attractive aesthetic rich in color and texture.

Original factory elements like a 1930s generator and overhead bridge crane are incorporated in the design creating an interesting, multi-diminsional space with endless aesthetic appeal. Features such as the mezzanines, the basement/tunnels, and overhead doors make this space and location ideal for restaurants, bars, or entertainment.

Pre-leasing opportunity offers a distinct commercial space with flexible floor plans and ample parking in Downtown Lubbock. With two buildings sitting on almost an acre of land, there are multiple ways to subdivide the space. Rates and TI are negotiable depending on concept, TI, and lease terms.

Additional Details

Nearest MSA: Lubbock
County: Lubbock
Taxing Authority: LCAD
Tax ID/APN: R88828
Zoning: CB-6
Retail Clientele: Recreation
Property Located Between: 5th Street and Ave J
Property Visibility: Good
Largest Nearby Street: 5th
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 11,500 SF
Property Condition: Good
Year Built: 1930
Year Renovated: 2020
Construction/Siding: Concrete
Total Parking Spaces: 75
Parking Type: Surface
Parking Description: Parking will be to the north and east of the main building. Other structures will be removed for parking depending on design, concept, and need.
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Engineered System
Water Service: Municipal
Sewer Type: Municipal
Legal Description: ORIG T LUBBOCK BLK 7 ALL OF L 8 THRU 12 & PT OF 13 THRU 16 & CLOSED ROW

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,660 75,100 157,769
Median Age: 31.49 28.67 31.04
Households: 1,463 26,105 59,432

Contact

Photograph of Listing Agent

Jeremy Steen

McDougal, REALTORS
West Texas CIE Member
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