10.464 Acres on Avenue U

Vacant Land for Sale
Sale Pending
Catylist Listing ID: 30764272
Property Subtypes: Multi-Family, Residential (Single Family), Other
Status: Pending
Gross Land Area: 10.46 Acres
Sale Price: $950,000
Unit Price: $90,822 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 1/21/2022

Overview / Comments

This is an opportunity to purchase 10.464 acres of vacant land inside the Lubbock city limits. The parcel is currently zoned "A-1" for multifamily development. The site is positioned one mile east of University Avenue, two miles west of U.S. Highway 87, and less than a quarter of a mile south of 82nd Street, which sees an estimated daily volume of over 17,000 vehicles per day. There is approximately 500 feet of frontage on Avenue U.

Part of the east side of the parcel is in the flood plain (see photos). The concrete lot is an easement required by the city for fire trucks to be able to turn. This can be incorporated into a parking lot or through-street in the next development.

Additional Details

Nearest MSA: Lubbock
County: Lubbock
Tax ID/APN: R301688
Property Visibility: Excellent
Legal Description: BLK E SEC 9 AB 47 TR B11B AC: 10.464
Largest Nearby Street: Avenue U
Feet of Frontage: 500
Topography: Gently Sloping
Available Utilities: Electric, Water, Gas, Sewer, Cable
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 13,422 79,819 168,477
Median Age: 30.47 34.64 32.99
Households: 5,229 31,377 65,269

Contact

Photograph of Listing Agent

Landon Cole

RE/MAX Lubbock Commercial West Texas CIE Member
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