Catylist ID:
#30704816
| Catylist Listing ID: | 30704816 |
| Property Subtypes: | Office Building |
| Building Size (RSF): | 3,125 SF |
| Gross Building Area: | See Agent |
| Sale Price: | $79,500 |
| Unit Price: | $25.44 PSF |
| In Opportunity Zone? | Yes |
| Property Use Type: | Investment |
| Class of Space: | Class B |
| Sale Terms: | Cash to Seller |
| Cap Rate: | 4.65% |
| Last Updated: | 2/5/2021 |
Overview / Comments
|
Great investment property with existing tenant located on Phelps Avenue in Littlefield, Texas. This had a major renovation in 2007-2008 and has new roof that was installed in 2019. Office has high ceilings with metal tiles in the lobby, executive office and conference room. along with beautiful composite hardwood in most of the building except for tile in the bathroom and shower area. Office also has rear exit/entrance onto XIT drive. Well maintained office space with long term tenant Lease term through 09/30/2022 with possibility option to renew for 5 years Located one block from town square and county courthouse New Roof installed in 2019 Excellent visibility and great curb appeal |
Current Tenants
| Tenant Business Name | Edward Jones |
| Contact Name | Steven Hayes |
| Contact Title | Financial Advisor |
| Phone Number | 806-385-7315 |
| Website URL | https://www.edwardjones.com/financial-advisor/index.html?CIRN=kL |
| Industry Type | Finance and Insurance |
| Is Renting? | Yes |
| Employees Total | 2 |
| Employees at Location | 2 |
| SF of Space Occupied | 3,125 SF |
| Current Rent | $132,000 PSF (Annual) |
| Lease Expiration | 9/2022 |
| Tenant Business Name | Edward Jones |
| Contact Name | Steven Hayes |
| Contact Title | Financial Advisor |
| Phone Number | 806-385-7315 |
| Website URL | https://www.edwardjones.com/financial-advisor/index.html?CIRN=kL |
| Industry Type | Finance and Insurance |
| Is Renting? | Yes |
| Employees Total | 2 |
| Employees at Location | 2 |
| SF of Space Occupied | 3,125 SF |
| Current Rent | $132,000 PSF (Annual) |
| Lease Expiration | 9/2022 |
Additional Details
| Nearest MSA: | Lubbock |
| County: | Lamb |
| Property Visibility: | Good |
| Airports: | Littlefield Taylor Brown Munipal Airport-3miles, Lubbock Preston Smith International Airport-45miles |
| Area Description: | Located at 523 Phelps Avenue in Littlefield, TX just on block north of the Courthouse Square. Located on what local residence refer to as Main Street although technically it is not designated as the main street. Also referred to as downtown area. |
| Total Number of Buildings: | 1 |
| Number of Stories: | 1 |
| Typical SF / Floor: | 3,125 SF |
| Year Renovated: | 2008 |
| Construction/Siding: | Brick |
| Parking Type: | Surface |
| Parking Description: | Street Parking on S. Phelps Avenue maintained by State |
| Water Service: | Municipal |
| Sewer Type: | Municipal |
| Legal Description: | ORIGINAL TOWN - LITTLEFIELD, BLOCK 40, LOT 13 |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 4,128 | 5,286 | 5,286 |
| Median Age: | 31.69 | 33.22 | 33.22 |
| Households: | 1,451 | 1,909 | 1,909 |
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