This exceptional investment opportunity presents a portfolio of two medical office buildings totaling 24,052 square feet, situated on a 2.53-acre lot in Lubbock, Texas. The property is currently under a net lease with a remaining term of 7.6 years, expiring July 1, 2032, and includes two 5-year lease options. The lease commenced August 1, 2022, and features a 2% annual rent increase. The asking price is $9,767,314, representing a price per square foot of $406.09 and a 7.00% cap rate. The current Net Operating Income (NOI) stands at $683,712. The buildings are strategically located near the south of Loop 289, an area with high traffic volume (42,500+ vehicles per day), and are surrounded by major national and regional retailers, including Walmart, CVS, Home Depot, Starbucks, Chick-fil-A, and H-E-B. The properties benefit from their proximity to the South Plains Mall (less than five miles) and the Lubbock Medical District (within seven miles). The area boasts high average household incomes, ranging from $98,800 to over $184,000, indicating a strong and growing market. This portfolio offers a stable, long-term investment with built-in rent growth.
Highlights
Long-term net lease with 2% annual rent increases and two 5-year options with similar increases.
Stable medical practice operating in Lubbock since 1998.
Acquired by American Vision Partners, a large medical group with 120 locations.
Excellent location near major retailers including Walmart, CVS, Home Depot, Starbucks, Chick-fil-A, and H-E-B.
High average household incomes ($98,800 to $184,000+) in a dense, growing neighborhood.
Prime location on major thoroughfares, less than 5 miles from South Plains Mall and within 7 miles of the Lubbock Medical District.
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Contacts
Parker Carroll
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3611 50Th St, Lubbock, Texas, 79424
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The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
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3611 50Th St
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