E-Z Mart - GPM | Lubbock, TX 4426 34th St 2,193 SF Retail Building Lubbock, TX 79410 $928,057 CAD ($423.19 CAD/SF) 6.75% Cap Rate
INVESTMENT HIGHLIGHTS
- 6th Largest Convenience Store in US | ARKO Corp (NASDAQ: ARKO) 2023 Revenue of $9.4 billion
- EZ Mart is part of GPM Investments, LLC a wholly owned subsidiary of ARKO
- Absolute Net Lease | +8 Years Remaining | Below Market Rent | 10% Rent Increases 5/1/2028
- 2.2 miles from Texas Tech University with 40,000+ students | 1.6 miles from Lubbock's Medical District
EXECUTIVE SUMMARY
TREK Investment Group is pleased to offer for sale EZ Mart in Lubbock, Texas. Featuring an Absolute Net lease with +8 years remaining on the original 15-year term, EZ Mart offers an investor an outstanding investment opportunity in a prime retail location. EZ Mart’s lease includes a 10% rent increases in less than 4 years, as well as in each of the six, 5-year option periods. Situated at the hard corner of 34th Street and Salem Avenue, the subject property is a pad to Family Dollar and is surrounded by other national retailers including Sonic, McDonald's, H&R Bock, O'Reilly Auto Parts and more, sitting less than 1 mile from 5 area schools, and sees traffic counts on 34th Street of 20,500+ VPD. Additionally, EZ Mart is only 2.2 miles from Texas Tech University which has current enrollment of 40,000+ students, as well as 1.6 miles from Lubbock's bustling Medical District.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
2,193 SF
Building Class
C
Year Built
1983
Price
$928,057 CAD
Price Per SF
$423.19 CAD
Cap Rate
6.75%
NOI
$62,644 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Lot Size
0.37 AC
Frontage
199’ on 34th St
AMENITIES
- Pylon Sign
- Signage
Walk Score®
Very Walkable (78)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | R29046 | Improvements Assessment | $233,860 CAD |
| Land Assessment | $50,477 CAD | Total Assessment | $284,337 CAD |
