Investment Property at 82nd and Indiana
Retail-Commercial
for Sale
| Catylist Listing ID: |
30523309 |
| Property Subtypes: |
Mixed Use, Street Retail, Other
|
| Building Size (RSF): |
5,520 SF
|
| Gross Land Area: |
23,190 SF
|
| Sale Price: |
$695,000 |
| Unit Price: |
$125.91 PSF |
| Ceiling: |
18 ft. |
| Property Use Type: |
Investment |
| Building Name: |
Master Cleaners |
| Usable Size (USF): |
5,520 SF |
| Core Factor: |
66% |
| Sale Terms: |
Cash to Seller, Sale/Leaseback |
| Cap Rate: |
Undisclosed |
| Last Updated: |
9/13/2020 |
Overview / Comments
|
Seller will rent approximately 1/3 of the east side of the building. The west 2/3 of the building can be renovated for retail or restaurant facility. The building is two contiguous building separated common concrete block wall. Thirty plus parking spaces are on the west side of the building. Location is fantastic. Estimated CAP rate is 11% with total price and renovation cost of approximately $750,000.00
|
Additional Details
| Nearest MSA: |
Lubbock |
| County: |
Lubbock |
| Taxing Authority: |
Lubbock CAD |
| Tax ID/APN: |
R55843 |
| Zoning: |
COMMERCIAL RETAIL C2A |
| Retail Clientele: |
General, Family, Business |
| Property Located Between: |
Indiana Ave and Indiana Drive |
| Property Visibility: |
Excellent |
| Largest Nearby Street: |
Indiana Avenue |
| Feet of Frontage: |
154 |
| Highway Access: |
access from 82nd Street with 2 cut on 82nd |
| Airports: |
Lubbock (LBB) |
| Site Description: |
Building sits on 2 lots 154.6 x 150 equal 23,190 Sq. Ft. Approximately 4,500 Sq. Ft. of parking on the west side of the building |
| Area Description: |
The building location is at the intersection of 2 seven lane city streets that are heavily traveled |
| Tenancy: |
Multiple Tenants |
| Total Number of Buildings: |
2 |
| Number of Stories: |
1 |
| Property Condition: |
Average |
| Year Built: |
1979 |
| Roof Type: |
Flat |
| Construction/Siding: |
Block |
| Exterior Description: |
About half window and half brick |
| Total Parking Spaces: |
43 |
| Parking Ratio: |
0.1 (per 1000 SF) |
| Parking Type: |
Surface |
| Parking Description: |
Paved asphalt |
| Sprinklers: |
None |
| Heat Type: |
Natural Gas |
| Heat Source: |
Central |
| Air Conditioning: |
Package Unit |
| Interior Description: |
East 1/3 of building is built to the needs of Dry Cleaning pick-up station with sliding gas door on east side for access to car traffic. Large service counter in front of moving rack hangers to retrieve clothes. West 2/3 of Bldg vacant space needs repair and modification for future Tenant. |
| Zoning Description: |
commercial retail C-2A Has tentative approval for restaurant facility |
| Lot Frontage: |
154.6 feet |
| Lot Depth: |
150 feet |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
| Easements: |
Pipelines, Electric Lines, Water Rights, Utilities, Environmental |
| Easements Description: |
utility and other easments |
| Land Ownership: |
Land is owned by the building owner |
| Legal Description: |
Melonie Park South, W63.48' of Tr W and E6.' of Tr V and W84.6' of Tr V |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
15,704 |
109,584 |
185,302 |
| Median Age: |
41.51 |
34.85 |
32.59 |
| Households: |
6,493 |
44,459 |
71,966 |
|
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