Retail-Commercial for Sale
Catylist Listing ID: 30363972
Building Size (RSF): 4,586 SF
Gross Building Area: See Agent
Gross Land Area: 21,875 SF
Sale Price: $1,346,140
Unit Price: $293.53 PSF
In Opportunity Zone? Yes
Property Use Type: Net Leased Investment (NNN)
Sale Terms: Cash to Seller
Cap Rate: 7.1%
Last Updated: 12/6/2019

Overview / Comments

Prime NNN Retail Investment opportunity located in North Lubbock. Property offers 4 units currently fully occupied with 3 strong tenants. Tenants include: Prosperity bank (formerly American State) which operates 37 locations in 21 communities in West Texas has 3 additional 5-year lease options ties to CPI, Fred Loya Insurance company, a National company with 700 offices across 10 States has 1 additional lease option for 5-years at market rate, and Garza's Barber Shop with 1 additional 2-year option at market rate.
Subject property is located in a dense retail corridor 4 blocks North of Texas Tech University Campus, student housing, and near recently built restaurants and others including: Popeyes, Panda Express, KFC, Chick- Fil -A , and more. The property is situated in an area that continues to benefit from revitalization projects moving North on University Avenue including: a new hotel project, and a new Retail center currently under construction within 2 blocks of the site.

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Additional Details

Nearest MSA: Lubbock
County: Lubbock
Tax ID/APN: R90368
Zoning: C-2

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 17,057 76,561 174,481
Median Age: 25.75 28.94 30.47
Households: 5,659 27,346 66,609


Photograph of Listing Agent

David Powell, CCIM

The Powell Group at Keller Williams Commercial
West Texas CIE Member
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