14.46 Acres on Spur 327

Vacant Land for Sale
Catylist Listing ID: 30771412
Property Subtypes: Hospitality, Multi-Family, Office, Retail, Retail-Pad, Self Storage, Other
Gross Land Area: 630,082 SF
Sale Price: $8,500,000
Unit Price: $13.49 PSF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/2/2021

Overview / Comments

This is an opportunity to purchase approximately 14.5 acres of commercial development land in growing southwest Lubbock. The parcel has over 1,600 feet of Spur 327 frontage in and is zoned “Transitional”. The site has access to utilities and three curb cuts. The parcel is under an ag exemption and had an tax assessment value of $6,986 in 2020. The east and southeast portion of the parcel is partially located in the 100-year flood plain. The site is positioned at the interchange between Marsha Sharp Freeway and Spur 327, which connects Marsha Sharp to Loop 289. Spur 327 sees over 41,000 vehicles per day and Marsha Sharp Freeway sees over 26,000 vehicles per day. The loop has over 65,000 vehicles per day. The site is also less than half a mile west of Milwaukee Avenue – a major retail corridor in Lubbock. The parcel is about 275 feet deep at the narrowest point off of Spur 327.

Seller will divide.

Additional Details

Nearest MSA: Lubbock
County: Lubbock
Tax ID/APN: R67474
Zoning: TRANSITIONAL
Property Located Between: Marsha Sharp Freeway and Loop 289
Property Visibility: Excellent
Legal Description: BLK AK SEC 35 AB 230 TR 7A LOWERY SUB & TR 1 ROW ST SPUR 327 AC: 14.4647
Largest Nearby Street: Spur 327 Frontage Road
Feet of Frontage: 1,620
Traffic/Vehicle Count: 41,000
Highway Access: The property is positioned on Spur 327, which connects Marsha Sharp Freeway and Loop 289.
Lot Frontage: 1,620 feet on Spur 327
Available Utilities: Electric, Water, Gas, Sewer, Cable
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,610 57,489 141,543
Median Age: 31.53 34.08 34.26
Households: 953 24,129 57,476

Contact

Photograph of Listing Agent

Landon Cole

RE/MAX Lubbock Commercial West Texas CIE Member
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