Prime Retail Redevelopment Opportunity
2,902 SF | Retail Building | Lubbock, TX 79413 | $750,000 ($258/SF)
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $750,000
- Property Type
-
Retail, Restaurant
- Square Feet
- 2,902 SF
- Price / Square Foot
- $258
Listing Contacts
Parker Carroll
Verified Profile
Chris Matlock
Verified Profile
- Property Info
Property Overview
TREK Investment Group is pleased to offer for sale a prime retail redevelopment opportunity in Lubbock, Texas. This exceptional value-add property offers a rare investment opportunity to acquire of a 2,902 square foot retail building with only 2 years left and no options remaining on the current Absolute NNN lease. There is substantial upside potential through renovation, redevelopment, and increased rents as the current rent is significantly below the current market average. This retail site is strategically located on a signalized hard corner of University Avenue and Texas 289 Loop Frontage Road, boasting traffic counts just shy of 82,000 vehicles per day on Loop 289 which serves as the main traffic loop around the city. In addition, a Toot'n Totum convenience store and gas station is now open which will generate additional significate traffic flow onto the property. The subject property is situated within a dense and growing neighborhood with an average household income exceeding $90,600 while also being surrounded by an array of well-known national retailers such as Target, McDonalds, Dairy Queen, Dunkin’, Chick-fil-a, Walgreens and numerous others.
Property Details
- Class
- B
- Year Built
- 1983
- Stories
- 1
- Property Subtype
- Freestanding
- Lot Size (sq. ft)
- 18,731 SF
Highlights
- Redevelopment Opportunity | Value-Add Property | Huge Upside Potential | Substantially Below Market Rents
- 2 Years Remaining on Current Absolute NNN Lease | No Options Remain
- Signalized Hard Corner | Traffic Counts of 82,000+ VPD on TX Loop 289 | Toot'n Totum Convenience Store is now Open
- Surrounded by National Retailers such as Target, McDonalds, Chick-fil-a, Walgreens and numerous others
Nearby Properties
Similar Properties
FAQ
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- What is the difference between Tier 1 & Tier 2 in the Due Diligence Vault?
- Documents that are placed in a Tier-1 Due Diligence vault require the execution of a Confidentiality Agreement (“CA”) for access. Documents and folders placed in the Tier-2 vault are intended to have an added layer of security and require the execution of a CA in addition to required Broker approval for access.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].