CVS Lubbock
12,935 SF | Retail Building | Lubbock, TX 79414 | $4,457,273 ($345/SF)
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $4,457,273
- Property Type
-
Retail
- Square Feet
- 12,935 SF
- Price / Square Foot
- $345
Listing Contacts
Blake Tagmyer
Verified Profile
- Property Info
Property Overview
• Strategically Located at the Signalized Hard Corner Along Area’s Main Retail and Traffic Corridor - excellent exposure at the intersection of Slide Road and 34th Street with combined daily traffic counts in excess of 40,163 vehicles
• Highly Visible Freeway Location – the subject property is easily accessible via Marsha Sharp Freeway (US 62/US 82), which is the primary east-west freeway providing access through downtown serving over 60,571 vehicles per day.
• 3 Miles from Texas Tech University ($2.8 billion annual economic impact in Texas) – Globally recognized university home to over 40,000 students and 1,800 faculty members
• Just South of Lubbock’s Medical District – Over 3.6 million square feet of medical and office space
• Approximately 1 Mile East of West End Regional Mall – newly developed in 2016, the 684,931 SF regional mall is anchored by Costco, Cabela’s, and Best Buy. Other traffic generators include Marshalls, HomeGoods, Dave & Busters, Gap, Nike and many others
• Excellent Ingress and Egress Along Both Traffic Corridors – CVS benefits from its location at the signalized intersection with access points on both Slide Road and US-62 Frontage Road allowing commuters easy access from all traffic patterns
• 2 Miles North of South Plains Mall – 1.1 million square foot regional mall anchored by Dillard’s & JC Penney 2.18 ACRES Year Built 6 Building Size Location Lot Size
• Densely Populated Area with Forecasted Growth – over 99,892 residents within a 3-mile radius, which includes 43,385 housing units providing for a direct residential consumer base. The subject area boasts a 92% occupancy rate for residential exemplifying the strength of market
• Highly Visible Freeway Location – the subject property is easily accessible via Marsha Sharp Freeway (US 62/US 82), which is the primary east-west freeway providing access through downtown serving over 60,571 vehicles per day.
• 3 Miles from Texas Tech University ($2.8 billion annual economic impact in Texas) – Globally recognized university home to over 40,000 students and 1,800 faculty members
• Just South of Lubbock’s Medical District – Over 3.6 million square feet of medical and office space
• Approximately 1 Mile East of West End Regional Mall – newly developed in 2016, the 684,931 SF regional mall is anchored by Costco, Cabela’s, and Best Buy. Other traffic generators include Marshalls, HomeGoods, Dave & Busters, Gap, Nike and many others
• Excellent Ingress and Egress Along Both Traffic Corridors – CVS benefits from its location at the signalized intersection with access points on both Slide Road and US-62 Frontage Road allowing commuters easy access from all traffic patterns
• 2 Miles North of South Plains Mall – 1.1 million square foot regional mall anchored by Dillard’s & JC Penney 2.18 ACRES Year Built 6 Building Size Location Lot Size
• Densely Populated Area with Forecasted Growth – over 99,892 residents within a 3-mile radius, which includes 43,385 housing units providing for a direct residential consumer base. The subject area boasts a 92% occupancy rate for residential exemplifying the strength of market
Property Details
- Class
- B
- Year Built
- 2006
- Stories
- 1
- Property Subtype
- Drug Store
- Lot Size (sq. ft)
- 87,120 SF
Highlights
- Over 413,000 annual visitors, the subject property is an exceptional performing retail/pharmacy ranking in the 87th percentile nationally
- CVS signed a new 20-year lease, which commenced in October 2020, leaving approximately 16.25 years remaining on the initial lease term
- Absolute NNN Lease Structure – Zero landlord responsibilities for operating or capital expenses
- CVS is ranked #6 on the 2023 Fortune 500 list – over 9,000 stores and 300,000 employees operating in all 50 states
- Highly Visible Freeway Location – the subject property is easily accessible via Marsha Sharp Freeway (US 62/US 82)
- Densely Populated Area with Forecasted Growth – over 99,892 residents within a 3-mile radius which includes 43,385 housing units
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