7.25% NNN Shopping Center in Opportunity Zone

Office for Sale
Catylist Listing ID: 30534870
Property Subtypes: Medical, Mixed Use, Flex Space, Net Leased, Other
Building Size (RSF): 19,416 SF
Gross Land Area: 3.81 Acres
Sale Price: $2,561,930
Unit Price: $131.95 PSF
In Opportunity Zone? Yes
Property Use Type: Net Leased Investment (NNN)
Building Name: Parkway Place
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: 6.0%
Average Occupancy Rate: 86
Last Updated: 5/17/2020

Overview / Comments

7.25% NNN Investment Opportunity in an opportunity zone! Built in 2009, this shopping center has occupancy and is located in an established neighborhood. Current tenants include Pizza Hut, Cricket Wireless, Community Health Center of Lubbock, Renal Care, Health Mart Pharmacy.

The center is located on US Highway 82 (Parkway Drive) with high visibility and long term tenants.

Additional Details

Nearest MSA: Lubbock
County: Lubbock
Taxing Authority: Lubbock CAD
Tax ID/APN: R316848
Zoning: RETAIL
Property Visibility: Excellent
Highway Access: US 82, Marsha Sharp Freeway, and I-27
Airports: LBB
Total Number of Buildings: 2
Number of Stories: 1
Year Built: 2009
Construction/Siding: Stucco
Parking Type: Surface
Total Parking Spaces: 94
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Engineered System
Zoning Description: Retail
Lot Frontage: 287
Lot Depth: 378
Water Service: Municipal
Sewer Type: Municipal
Legal Description: PARKWAY TR B

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,248 37,222 113,708
Median Age: 30.16 29.35 30.74
Households: 2,099 13,052 40,799

Contact

Photograph of Listing Agent

Jeremy Steen

McDougal, REALTORS
West Texas CIE Member
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