PROPERTY OVERVIEW Investment Opportunity - This multi-tenant office/retail center is available for sale with multiple tenants including Premier Martial Arts and Trapped. There is one vacancy of approx 1,000 sq ft currently being offered for lease at $14/sq ft NNN (NNN are $2.75/sq ft). This opportunity to invest in a well cared for building along a major thru road doesn't come available often in Lubbock. Conveniently located at 50th & Knoxville, this property is just West of 50th & Indiana Ave with a central Lubbock location. This property has great increased potential with the leasing of the last 1,000 sq ft space that is currently on the market for $14/sq ft NNN. PROPERTY HIGHLIGHTS • Investment Opportunity • 7.8% cap rate will increase to 9.2% with filled vacancy • Excellent central Lubbock location • Well-maintained property OFFERING SUMMARY Sale Price: $1,125,000 Cap Rate (Proforma): 7.78% - Increases to 9.2% with filled vacancy. NOI (Proforma): $94,575 Lot Size: 0.7 Acres Year Built: 1975 Building Size: 7,776 SF Renovated: 2010 Zoning: C-2: Local Retail District Price / SF: $144.68
| Property Type | Retail |
|---|---|
| Listing ID | B3KVGR |
| Style | Retail – Street Retail |
| Building Size | 7,776 SF |
| Lot Size | 0.7 AC |
