Freestanding Retail Building

Retail-Commercial for Sale
Catylist Listing ID: 30380169
Property Subtypes: Free-Standing Building
Building Size (RSF): 2,187 SF
Gross Land Area: 22,307 SF
Sale Price: $249,000
Unit Price: $113.85 PSF
Property Use Type: Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 6/6/2019

Overview / Comments

The property is currently an operating water/tea/ice store on the north west side of Lubbock. There is a 2,187 square foot building on the site that was built in 2013. The building sits on 22,307 square feet per the Lubbock Central Appraisal District. The building has a drive through window on the west side of the building. There is a ATM on the property that will have a new 5 year lease in place prior to the sale of this property.
The building is on a ground lease with 10 years left on the original term and three five year extensions available.

Additional Details

Nearest MSA: Lubbock
County: Lubbock
Taxing Authority: Lubbock CAD
Tax ID/APN: R71423
Retail Clientele: General
Property Located Between: The property is on the southwest corner of 4th St and Frankford Ave.
Property Visibility: Excellent
Traffic/Vehicle Count: 41,000
Site Description: The Property is located on the southwest corner of 4th St and Frankford Ave on the Northwest side of Lubbock. The corner is signalized. There are 41,000 vehicles that go through the intersection as of March 2015. 4th St is the northern boundary of the Texas Tech University Campus and the Tech Medical School is located on 4th Street about 2.5 miles to the east of the site. There is a super Walmart directly across Frankford Ave. from the property. The building is on a ground lease.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 2,187 SF
Property Condition: Excellent
Year Built: 2013
Roof Type: Flat
Construction/Siding: Brick/Vinyl Siding, Wood Frame
Parking Type: Surface
Sprinklers: None
Heat Source: Central
Air Conditioning: Package Unit
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 14,243 66,329 156,688
Median Age: 26.86 29.8 31.15
Households: 5,571 26,884 61,941

Contact

Photograph of Listing Agent

David Bloodworth

RE/MAX Lubbock Commercial West Texas CIE Member
Photograph of Listing Agent

Julie Childs

RE/MAX Lubbock Commercial West Texas CIE Member
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