710 Avenue J

Retail-Commercial for Sale
Catylist Listing ID: 30431614
Property Subtypes: Street Retail
Building Size (RSF): 137,615 SF
Gross Building Area: See Agent
Gross Land Area: 3.52 Acres
Sale Price: $5,500,000
Unit Price: $39.97 PSF
Property Use Type: Investment
Sale Terms: Sale/Leaseback
Cap Rate: Undisclosed
Average Occupancy Rate: 55
Last Updated: 6/12/2019

Overview / Comments

Sale Leaseback investment opportunity in downtown Lubbock around the corner from the new Buddy Holly Performing Arts Center and Lubbock Civic Center. The Lubbock Avalanche Journal will stay and lease back approximately 55,000 SF of production space with a long term lease. The remaining buildings and parking lots are prime for redevelopment.

Additional Details

Nearest MSA: Lubbock
County: Lubbock
Tax ID/APN: R97396
Zoning: CB-2 & CB-6
Property Located Between: The subject property includes the entire block between 7th & 8th Street and Ave K & Ave J, east side of Ave J and 2 parking lots north of 7th Street.
Site Description: The subject property includes multiple buildings and lots being sold together. 710 Ave J - This is the main Lubbock Avalanche Journal building which includes a total of 111,200 SF of building area. The AJ will remain in and lease the west half of the building and the basement (approximately 80,000 SF) and 8,000 SF of office space. (Insert rent & lease term information). The remaining portion of the building could be redeveloped or leased for additional income. The existing office space can be relocated as well. 713 Ave J - 11,336 SF of building sitting on 13,000 SF of land. There is a loading doc and above-ground and basement storage space that connects to 710 Ave J. 701 Ave J - 13,000 SF of land - currently a parking lot 601 Ave J - 32,500 SF of land - currently a parking lot 620 Ave J - 26,000 SF of land - currently a parking lot
Tenancy: Multiple Tenants
Total Number of Buildings: 3
Year Built: 1964
Construction/Siding: Block
Exterior Description: Cinderblock and Brick
Parking Type: Surface
Zoning Description: CB-2 & CB-6

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,082 72,417 162,777
Median Age: 29.37 28.4 31.1
Households: 2,693 25,246 61,220

Contact

Photograph of Listing Agent

Karen Higgins, CCIM

WestMark Commercial West Texas CIE Member
Photograph of Listing Agent

Alison Blalock, CCIM

WestMark Commercial West Texas CIE Member
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