Office Buildings for Sale

Office for Sale
Catylist Listing ID: 30661837
Property Subtypes: Business Park, Office Building
Building Size (RSF): 14,051 SF
Gross Land Area: 1.41 Acres
Sale Price: $2,021,919 - 2,290,313
Unit Price: $143.90 - 163 PSF
Property Use Type: Investment, Vacant/Owner-User
Building Name: The Suites at Stonewood
Class of Space: Class A
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/12/2020

Overview / Comments

The Suites at Stonewood is a carefully planned office community designed to create a relaxed work environment to satisfy the professional. Four buildings feature multiple floorplans from 960 sq. ft. to 1,578 sq. ft. to accommodate a wide array of office users. Two other buildings (3,572 sq. ft. and 3,491 sq. ft.) are currently built but are in shell condition and available for a new owner to design the interior based on their own requirements (developer will also construct the interior out based on an allowance of $38.00 per sq. ft., which will be added to the price of the property or building). Designer finishes, pre-wired with CAT-5 cabling, coffee bars with granite countertops, and ADA-compliant restrooms are just some of the features to discover at the property. Southwest Lubbock continues its rapid growth with new residential, multi-family, retail and restaurant construction in a one-mile radius of the development. Call broker for additional details on acquiring one or multiple units in this development.

Pricing:
Entire Property (4 buildings; two completely finished, two shell construction.) "As Is" - $2,021,919
Entire Property (4 buildings; all four completely finished with $38 psf construction allowance on two shell buildings) - $2,290,313)
Building 1 (completely finished) - 3,426 sq. ft. - $558,438
Building 2 (shell construction) - 3,572 sq. ft. - $446,500 or finished with allowance - $582,236
Building 3 (shell construction) - 3,491 sq. ft. - $436,375 or finished with allowance - $569,033
Building 4 (completely finished) - 3,562 sq. ft. - $580,606

Additional Details

Nearest MSA: Lubbock
County: Lubbock
Tax ID/APN: R331144
Zoning: LOCAL RETAIL DISTRICT
Property Visibility: Excellent
Site Description: Located four blocks south of 114th Street on the east side of Frankford Avenue in rapidly growing southwest Lubbock.
Total Number of Buildings: 4
Number of Stories: 1
Year Built: 2020
Parking Type: Surface
Zoning Description: Local Retail District
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 39,210 119,912
Median Age: 40.26 35.74
Households: 15,629 48,095
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