Central Lubbock Office Building for Sale

Office for Sale
Catylist Listing ID: 30673643
Property Subtypes: Medical, Office Building
Building Size (RSF): 17,680 SF
Sale Price: $1,865,000
Unit Price: $105.49 PSF
Property Use Type: Investment
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/13/2021

Overview / Comments

This spacious two-story 17,680 sf property has elevator access and is well suited for an owner occupant/investment opportunity. The Property is located on an oversized 1.6 Acres of land, which provides superior parking.

Location Description:
Located off of 50th and Indiana 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. Easy Access to loop 289 provides quick travel throughout the city. The property is also within walking distance to Market Street, Lubbock’s preferred grocery chain, and is a short drive from Monterey High School and Grace Medical Center. 50th Street is a strong commercial corridor with many food and shopping options located in the immediate area. Over 237,000 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.

Tenant Description:
Texas Home Health has occupied 5201
Indiana Ave since 2006. Established in
2004, THH is West Texas’ premier home
health care provider. THH’s parent company,
Accent Care, owns and operates over 10
home health companies, operating across
16 states. THH provides quality in home
care to hundreds of thousands of people
spanning across 127 counties in the state of
Texas. THH’s 24,000 qualified professionals
administer a host of post-acute home
healthcare services ranging from physical,
occupational, and speech therapy, to
nursing and medical social services.

Investment Description:
Tenant is in negotiations to renew their lease and reduce their occupancy of the building from both floors to one floor, providing an opportunity for the buyer to occupy half of the building or re-lease the space.

Attachments & Media

Additional Details

Nearest MSA: Lubbock
County: Lubbock
Tax ID/APN: R82333
Property Located Between: Indiana Avenue and 50th Street
Property Visibility: Good
Total Number of Buildings: 1
Number of Stories: 2
Parking Type: Surface

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 21,309 139,390 217,118
Median Age: 36.01 32.94 31.92
Households: 8,599 54,339 84,227

Contact

Photograph of Listing Agent

Randy Egenbacher

Egenbacher Real Estate
West Texas CIE Member
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