For Sale
$1,944,686

1603 Acc Rd Lubbock, TX 79416

7% Cap Rate, Corporate Tenant, Texas

Overview

Added:
Dec 11, 2024
Days on market:
137
This exceptional investment opportunity presents a single-tenant, 8,508-square-foot office building in Lubbock, Texas. Located at 1603 W Loop 289 Acc Rd, 79416, this Class B property boasts a prime location at the intersection of TX-289 Loop and TX-114, two major thoroughfares with a combined daily traffic volume exceeding 67,000 vehicles. The building, constructed in 1984 and situated on a 0.62-acre lot, is currently 100% occupied by a credit-rated, investment-grade corporate tenant under a triple-net (NNN) lease. The lease commenced August 1, 2022, with a five-year term and includes two five-year renewal options, providing a remaining lease term of approximately 2.7 years. The tenant, a globally recognized company with over 2,000 locations worldwide, has occupied the premises since 1986. The property features a recently replaced roof (2022) and offers a strong net operating income (NOI) of $136,128, resulting in an attractive 7.00% capitalization rate. The asking price is $1,944,686, translating to a price per square foot of $228.57. The property benefits from its proximity to Lubbock International Airport (12 miles) and Texas Tech University (less than 3 miles), and is surrounded by numerous national and regional retailers, including Academy, Walmart, Chick-fil-A, and more. This is a rare opportunity to acquire a stable, high-performing investment property with a long-standing corporate tenant in a thriving Texas market.

Highlights

  • NNN lease with long-term corporate tenant since 1986.
  • New roof installed in 2022.
  • Investment-grade tenant (BBB+ rating).
  • Tenant operates over 2,000 global locations.
  • High-traffic location in Lubbock, at the intersection of TX-114 and TX-289 Loop (67,000+ vehicles per day).
  • Close proximity to Lubbock International Airport (12 miles) and Texas Tech University (under 3 miles, 40,000+ students).

Property Details for 1603 Acc Rd

Property type
Office properties, Medical offices
Square Feet
8,508 SF
Class
B
Year Built
1984
Lot Size (sq. ft)
27,007 SF

Location Insight

City
Lubbock
County
Lubbock
State
Texas
Latitude
33.5797529
Longitude
-101.9420726

FAQs

What type of property is this?
Office property - 7% Cap Rate, Corporate Tenant, Texas
Where is the office property located?
The property is located at 1603 Acc Rd Lubbock, TX.
What is the asking price?
The asking price for this property is $1,944,686.
What are key features of this property?
This property features: NNN lease with long-term corporate tenant since 1986.; New roof installed in 2022.; Investment-grade tenant (BBB+ rating).
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
1603 Acc Rd
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message