Fully Leased Mixed Asset Portfolio
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Fully Leased Mixed Asset Portfolio
2 Properties in Lubbock, TX
Virtual Tour
Investment Highlights
- FULLY LEASED ASSETS - AVAILABLE SEPARATELY - DIVISIBLE PARCELS - 1.633-ACRES COMBINED
- 1627 CR 7340: Leased to tenant with national locations, Briggs Equipment. Climatized warehouse, built out office, and oversized grade-level doors.
- Boasting great access throughout the metro, 1 mile off US 87 / Interstate 27, 4 miles to Texas Loop 289, and 8 miles to Downtown Lubbock.
- Warehouse (1627) and Apartment Property (1625) - Each is serviced by gas, electric, septic, and well water
- 1625 CR 7340: 2 leased 1B/1.5BA apartment units w/ garages, 1 leased 3B/2BA unit w/ family room. Patios, backyards, washer/dryer hookups.
- MINIMAL to NO LANDLORD RESPONSIBILITIES - NN Lease and Property Manager in Place
Executive Summary
TWO FULLY LEASED BUILDINGS - AVAILABLE SEPARATELY
Invest in the growth of Lubbock, Texas, with a multifaceted acquisition opportunity perfectly positioned to benefit from this city on the rise. 1625 and 1627 County Road 7340 are available together or separately, and the parcels can be divided. Each is serviced by gas, electric, septic, and well water.
INDUSTRIAL: 1627 County Road 7340 is a warehouse spanning 5,828 square feet on 1.03 acres. The industrial distribution facility is fully leased to Briggs Equipment, a parts supplier and servicer with two dozen locations throughout the southwest. The credit tenant is on a Double Net lease with more than four years remaining, leaving almost no landlord responsibilities. It features a 1,000-square-foot office space with a restroom and an implement shed. The remaining space accounts for the warehouse area, which is heated and cooled with blown foam insulation. It includes two 14-foot by 14-foot overhead doors, a Big Ass Fan, 16-foot wall height, 23-foot eave height, and gas overhead units.
MULTIFAMILY: 1625 County Road 7340 is a three-unit, 6,000-square-foot multifamily building built in 2021 with a local property manager in place that can cover maintenance and leasing efforts. The triplex has apartments A and B leased, each with a one-bedroom, one-bath layout and an oversized garage. Apartment C is an oversized unit and could be divided into two. It currently features a three-bedroom and two-bath layout with a large family room. Each unit has a covered patio, backyard, and washer/dryer hookups. The property is situated on 0.603 acres.
Located in south Lubbock, the 1625 and 1627 County Road 7340 portfolio boasts a desirable position in the city's most populated area outside of Texas Loop 289. Due to the densely populated location, the properties will benefit from Lubbock’s incoming public infrastructure plans to make an integrated regional bike/pedestrian system and expand the transit service. The properties are also located a mile off US 87, the city’s main north-south artery, which turns into Interstate 27.
Invest in the growth of Lubbock, Texas, with a multifaceted acquisition opportunity perfectly positioned to benefit from this city on the rise. 1625 and 1627 County Road 7340 are available together or separately, and the parcels can be divided. Each is serviced by gas, electric, septic, and well water.
INDUSTRIAL: 1627 County Road 7340 is a warehouse spanning 5,828 square feet on 1.03 acres. The industrial distribution facility is fully leased to Briggs Equipment, a parts supplier and servicer with two dozen locations throughout the southwest. The credit tenant is on a Double Net lease with more than four years remaining, leaving almost no landlord responsibilities. It features a 1,000-square-foot office space with a restroom and an implement shed. The remaining space accounts for the warehouse area, which is heated and cooled with blown foam insulation. It includes two 14-foot by 14-foot overhead doors, a Big Ass Fan, 16-foot wall height, 23-foot eave height, and gas overhead units.
MULTIFAMILY: 1625 County Road 7340 is a three-unit, 6,000-square-foot multifamily building built in 2021 with a local property manager in place that can cover maintenance and leasing efforts. The triplex has apartments A and B leased, each with a one-bedroom, one-bath layout and an oversized garage. Apartment C is an oversized unit and could be divided into two. It currently features a three-bedroom and two-bath layout with a large family room. Each unit has a covered patio, backyard, and washer/dryer hookups. The property is situated on 0.603 acres.
Located in south Lubbock, the 1625 and 1627 County Road 7340 portfolio boasts a desirable position in the city's most populated area outside of Texas Loop 289. Due to the densely populated location, the properties will benefit from Lubbock’s incoming public infrastructure plans to make an integrated regional bike/pedestrian system and expand the transit service. The properties are also located a mile off US 87, the city’s main north-south artery, which turns into Interstate 27.
Property Facts
| Sale Type | Investment | Individually For Sale | 1 |
| Status | Active | Total Building Size | 11,828 SF |
| Number of Properties | 2 | Total Land Area | 1.67 AC |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 1 |
| Total Building Size | 11,828 SF |
| Total Land Area | 1.67 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 1625 County Road 7340, Lubbock, TX 79423 | Multifamily | 6,000 SF | 2016 | - |
| 1627 County Road 7340, Lubbock, TX 79423 | Industrial | 5,828 SF | 2021 | - |
Sale Advisors
Sale Advisors
Erik Paul Johnson, President
(325) 439-0186
Contact
Erik has resided in Texas since 1974. Raised in Abilene and a graduate of Abilene High School, he went on to receive his BA in Advertising from the University of Texas at Arlington. First exposure to real estate came after being licensed in 1990. After 12 years of serving as General Manager of a local retail/wholesale company, he joined Paul Johnson & Associates in February 2004. During the first two years with the company, he achieved a Masters equivalent in Commercial Real Estate Finance by earning his CCIM in Vancouver, British Columbia. In February 2007 he earned his Texas Real Estate Broker’s License. In 2010 he earned his membership with SIOR as an Industrial Specialist. To date, he has combined total sales and leases of over $88 Million. He has more than 920 transactions totaling 74 million square feet of property.
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