2424 50th Office Plaza Suites for Sale

Office for Sale
Catylist Listing ID: 30700956
Property Subtypes: Medical, Office Building
Building Size (RSF): 42,444 SF
Sale Price: $1,950,000
Unit Price: $45.94 PSF
Property Use Type: Investment
Building Name: 2424 Office Plaza
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 2/25/2021

Overview / Comments

Excellent Office/Medical value added opportunity. Building features 3 floors with several access points and cross parking agreement with adjacent hospital providing 220 parking spaces. Located on the corner of 50th and University Avenue, the subject property has great visibility to over 50,000 cars per day. The building is centrally located, making it valuable property to the surrounding community. Texas Tech, within a 7-minute drive, provides this location a broad client base of young adults and professionals. Over 212,000 people are living within the surrounding 5-mile radius with a healthy mix of people ranging between college-age and young professionals to senior citizens.

Additional Details

Nearest MSA: Lubbock
County: Lubbock
Tax ID/APN: R166210
Property Visibility: Excellent
Total Number of Buildings: 1
Number of Stories: 3
Total Parking Spaces: 220
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 20,036 119,184 208,747
Median Age: 32.87 32.44 31.95
Households: 7,684 45,090 80,653

Contact

Photograph of Listing Agent

Randy Egenbacher

Egenbacher Real Estate
West Texas CIE Member
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