5202 82nd St
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5202 82nd St
6,643 SF Office Building Lubbock, TX 79424 $3,031,299 CAD ($456 CAD/SF) 8% Cap Rate
Investment Highlights
- High Traffic Area
- Strong National Tenant
- New 7yr Lease
- Prime Location
Executive Summary
NNN investment opportunity in SW Lubbock with a new seven-year lease (Covenant Medical Center). This 6,630 SF medical urgent care, previously licensed as a Texas free-standing emergency room, boasts versatile usage options, including urgent care medical facilities, outpatient surgery, physical therapy, chemotherapy treatment, and more. The property enjoys high visibility with about 33,000 (VPD), surrounded by retail centers, restaurants, and offices. The property features a comprehensive infrastructure, including a KOHLER Natural Gas Emergency Generator – Modal 125REGC, 4 Emergency Suites, 4 Exam Suites, a Nurse’s Station, a Secure Medication Storage Room, a Laboratory Room, X-Ray Suite, CT Suite, Clean Storage Room, Soiled Storage Room, Doctor’s Sleep Room, Lobby/Reception area, Med Gas Storage, VAC Pump Storage, and an Electrical, Phone, and Internet Closet. Tenant is Covenant Health System, owned by Providence Healthcare, the 7th largest health system by net patient revenue in the United States. 3,000 (VPD), surrounded by retail centers, restaurants, and offices (Property features continued on page 2.)This property has a land lease with 30 years remaining on the lease.
Property Facts
Sale Type
Investment NNN
Sale Condition
Ground Lease (Leasehold)
Property Type
Office
Property Subtype
Medical
Building Size
6,643 SF
Building Class
B
Year Built
2015
Price
$3,031,299 CAD
Price Per SF
$456 CAD
Cap Rate
8%
NOI
$242,504 CAD
Tenancy
Single
Building Height
1 Story
Typical Floor Size
6,643 SF
Building FAR
0.29
Land Acres
0.52 AC
Zoning
AC - Auto-Urban Commercial
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- Medical
- Health Care and Social Assistance
- 6,643 SF
- $457.21 CAD
- Net
- -
Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
Medical | Health Care and Social Assistance | 6,643 SF | $457.21 CAD | Net | - |
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PROPERTY TAXES
Parcel Number | R83873 | Improvements Assessment | $2,339,893 CAD |
Land Assessment | $376,709 CAD | Total Assessment | $2,716,602 CAD |
PROPERTY TAXES
Parcel Number
R83873
Land Assessment
$376,709 CAD
Improvements Assessment
$2,339,893 CAD
Total Assessment
$2,716,602 CAD
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5202 82nd St
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