Overton Park - Restaurant

Retail-Commercial for Sale
Catylist Listing ID: 30383270
Property Subtypes: Restaurant
Building Size (RSF): 7,935 SF
Gross Building Area: See Agent
Sale Price: $3,400,000
Unit Price: $428.48 PSF
Property Use Type: Investment, Business
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 2/19/2019

Overview / Comments

Unbeatable Location! Located in the center of beautiful, Overton Park. Overton Park is the largest private residential redevelopment project in the history of the United States. It's a model mixed used urban community of state of the art living, shopping and destination for visitors and conventions. Only a few minutes walking distance from Texas Tech University and the home of over 37K students and the Red Raiders, the location is surrounded by constant student and University event traffic. Across the round about from Overton Hotel and multiple Student Housing developments, the current restaurant and bar provides a much needed and desired service in the area. This location is also just minutes from downtown Lubbock and the downtown revitalization efforts that is bringing in many new hotels, entertainment to include highly anticipated Buddy Holly Hall of Performing Arts and Sciences, retail, professional business offices, and residences. The property includes 7935 square feet of usable space and sits on 1 acre (43,046 soft). Currently operating as a full-service Restaurant Bar and Grill with capacity to seat and serve 250 inside and 80 on the perfectly situated patio. FF&E is not included and negotiable with sale.

Attachments & Media

Additional Details

Nearest MSA: Lubbock
County: Lubbock
Tax ID/APN: R323539
Zoning: C2 WITH SPECIFIC USE FOR SPORTS GRILL
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation, Convention
Property Visibility: Excellent
Largest Nearby Street: Mac Davis Lane
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 7,935 SF
Property Condition: Excellent
Year Built: 2014
Parking Type: Surface
Zoning Description: C2 with specific use for sports grill

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 19,183 88,657 179,050
Median Age: 24.43 29.19 30.93
Households: 6,171 31,986 68,436

Contact

Photograph of Listing Agent

Shannon King

McDougal, REALTORS West Texas CIE Member
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