Catylist ID:
#30427853
7.5 Cap Rate MOB - Investment Grade Tenant Just Renewed
Office
for Sale
| Catylist Listing ID: | 30427853 |
| Property Subtypes: | Medical |
| Building Size (RSF): | 19,583 SF |
| Gross Building Area: | See Agent |
| Gross Land Area: | 65,973 SF |
| Sale Price: | $2,850,000 |
| Unit Price: | $145.53 PSF |
| Property Use Type: | Investment |
| Class of Space: | Class B |
| Sale Terms: | Cash to Seller |
| Cap Rate: | 7.54% |
| Last Updated: | 10/29/2020 |
Overview / Comments
|
Freestanding medical office building located in the heart of Covenant Medical main campus. Opportunity to purchase MOB with recently renewed Covenant Hospital lease, who occupies 70% of the building, beginning January, 2020. Existing vacant space of 5,174 square feet offers upside to lease at market rents. Vacancy easily divided into 2 spaces, see floor plan. Extra parking lot conveys with sale. This opportunity is perfect for owner/user and have tenant off-set the cost of ownership. Property Size: 19,583 SF (Includes 1,438 SF basement) Multi Tenant Building Adjacent to Covenant Hospital Corner of Louisville and 22nd Street Main Tenant - Covenant Health Pulmonary |
Attachments & Media
Additional Details
| Nearest MSA: | Lubbock |
| County: | Lubbock |
| Tax ID/APN: | R117287 |
| Property Located Between: | Louisville and 22nd St. |
| Highway Access: | Marsha Sharp Freeway |
| Total Number of Buildings: | 1 |
| Number of Stories: | 1 |
| Year Built: | 1986 |
| Construction/Siding: | Brick |
| Parking Type: | Surface |
| Parking Description: | 98 spaces plus extra covered parking. |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 8,554 | 131,237 | 210,336 |
| Median Age: | 31.28 | 29.89 | 31.84 |
| Households: | 2,913 | 50,349 | 81,531 |
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