3611 50th St
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3611 50th St
6,034 SF Office Building Lubbock, TX 79413 $3,464,216 CAD ($574 CAD/SF) 7% Cap Rate
Investment Highlights
- NN Lease | 8 Years Remaining | 2% Annual Increases Throughout
- Long-term Stable Practice Serving Lubbock Since 1998 | Purchased by AVP Texas Vision Management, LLC - Part of a family of 9 Other Medical Practices
- Major Traffic Corridor Inside Loop 289 | Traffic Counts 28,000+VPD
- 2 - (5)yr Options to Renew also with 2% Annual Increases
- Dense area of Lubbock w/Avg HH Income $98,800+ in 1 mile radius
- 2 miles from Lubbock's Medical District | 3 miles from Texas Tech University with 40,000 Students
Executive Summary
TREK Investment Group is pleased to offer for sale the West TX Eye Clinic office building in Lubbock, Texas. West Texas Eye
Associates is a long-term stable tenant serving Lubbock since 1998. The subject property is strategically located on one of
Lubbock's major corridors inside Loop 289 seeing 28,000+ VPD, only 2 miles from Lubbock's Medical District and 3 miles from
Texas Tech University. West Texas Eye Clinic is situated in a dense neighborhood with average Household Income of $98,800+
in a 1 mile radius. This property is shadowed by Sutherlands, and also surrounded by National and Regional Tenants such as
Dollar General, CVS, United Supermarkets, Starbucks, Sonic and more.
Associates is a long-term stable tenant serving Lubbock since 1998. The subject property is strategically located on one of
Lubbock's major corridors inside Loop 289 seeing 28,000+ VPD, only 2 miles from Lubbock's Medical District and 3 miles from
Texas Tech University. West Texas Eye Clinic is situated in a dense neighborhood with average Household Income of $98,800+
in a 1 mile radius. This property is shadowed by Sutherlands, and also surrounded by National and Regional Tenants such as
Dollar General, CVS, United Supermarkets, Starbucks, Sonic and more.
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
6,034 SF
Building Class
C
Year Built
1978
Price
$3,464,216 CAD
Price Per SF
$574 CAD
Cap Rate
7%
NOI
$242,495 CAD
Tenancy
Single
Building Height
1 Story
Typical Floor Size
6,034 SF
Building FAR
0.14
Lot Size
0.98 AC
Zoning
Commercial
Parking
30 Spaces (4.97 Spaces per 1,000 SF Leased)
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Walk Score ®
Very Walkable (72)
PROPERTY TAXES
| Parcel Number | R60954 | Improvements Assessment | $777,491 CAD |
| Land Assessment | $301,721 CAD | Total Assessment | $1,079,212 CAD |
PROPERTY TAXES
Parcel Number
R60954
Land Assessment
$301,721 CAD
Improvements Assessment
$777,491 CAD
Total Assessment
$1,079,212 CAD
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3611 50th St
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