4521 20Th StLubbock, TX 79407

Property Details for 4521 20Th St

Year built

1972

Lot size

0.73 AC

Property size (Sq ft)

8,460 SF

Property type

Hospitality properties

Property subtype

Other specialty properties

Description

This exceptional investment opportunity presents a fee-simple, net-leased Sherwin-Williams Paint Store located at 4521 20th St, Lubbock, TX 79407. The property boasts 8,460 square feet on a 0.73-acre lot and benefits from a 10-year lease (commencing May 31, 2024 and expiring May 30, 2034), leaving 9.5 years remaining. The lease features a credit-rated corporate guarantee and attractive 8% rent bumps every five years, ensuring consistent income growth. The current annual net operating income (NOI) is $100,008, resulting in a 6.25% capitalization rate. The asking price is $1,600,125, translating to $189.14 per square foot. Built in 1972, this single-unit property enjoys 100% occupancy and is situated in a high-traffic area with excellent visibility, surrounded by various big-box retailers, apartments, and schools. The property's location within Lubbock, near the city's downtown core, provides access to a dense population exceeding 244,000 residents within a five-mile radius. The lease includes four, five-year renewal options, each with an 8% rent increase. Landlord responsibilities are limited to the foundation and structure. This is a rare opportunity to acquire a stable, high-performing retail investment with a strong tenant and significant upside potential.

Location Insight

City

Lubbock

County

Lubbock

State

Texas

Latitude

33.5483

Longitude

-101.909

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