Cap Rate
5.25%
Year Built
2022
Leasable Area
2,824 SF
Term Remaining
±19.25 Yrs
NOI
$110,000
Property Type
Retail
INVESTMENT HIGHLIGHTS
- Brand new 2023 construction with an estimated rent commencement of February 2023
- 20-Year Absolute NNN ground lease with zero management responsibilities
- Attractive 8% rental increases every 5 years for the life of the lease
- Corporately guaranteed lease (S&P rated BB+)
- Located at the hard signalized corner of 82nd St & University Ave
- Traffic counts at the intersection exceed ± 62,000 vehicles daily
- Lubbock is home to Texas Tech University which has an enrollment of ± 40,322 students
- The subject property is located just 4.5-miles south of campus
- Lubbock has a population of ±257,140 residents
Broker of Record
- Kyle Matthews
- License No. 9005919 (TX)
- 866 889 0550
- Matthews Real Estate Investment Services, Inc.
- 8300 Douglas Ave.,
Ste 750, Dallas, TX 75225