• Broker Parker Carroll 5124336999

3611 50th St

6,034 SF Office Building Lubbock, TX 79413 $3,527,099 CAD ($584.54 CAD/SF) 7% Cap Rate

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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.

PROPERTY FACTS

Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
6,034 SF
Building Class
C
Year Built
1978
Price
$3,527,099 CAD
Price Per SF
$584.54 CAD
Cap Rate
7%
NOI
$246,897 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)

LINKS

Walk Score®
Very Walkable (72)

PROPERTY TAXES

Parcel Number R60954 Improvements Assessment $781,746 CAD
Land Assessment $303,372 CAD Total Assessment $1,085,118 CAD

Map of 3611 50th St Lubbock, TX 79413

ADDITIONAL PHOTOS

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