3400 I-27Lubbock, TX 79404

Property Details for 3400 I-27

Year built

1955

Lot size

3.75 AC

Property size (Sq ft)

60,685 SF

Property type

Retail properties

Property subtype

Lifestyle centers

Description

This Lubbock, Texas shopping center offers a compelling investment opportunity with a strong 8.57% cap rate and a desirable location on I-27. The 60,685 square foot property boasts eight units, currently 93.82% occupied, generating a net operating income (NOI) of $299,576. Anchored by Dollar Tree and Harbor Freight, the center benefits from a newly signed 10-year lease with Dollar Tree and staggered lease terms averaging 4.1 years remaining. The low price per square foot of $57.59 is significantly below replacement cost. Nearly half of the tenants have occupied the space for over a decade, demonstrating strong tenant loyalty and stability. Built in 1955, the property sits on a 3.75-acre lot and features ample accessible parking, providing unparalleled visibility to the high-traffic I-27 corridor, a major transportation artery connecting Lubbock to the rest of Texas. This well-maintained property presents a rare chance to acquire a high-performing retail asset in a prime Lubbock location. The property's strong tenant mix, favorable lease terms, and strategic location make it an attractive investment for discerning buyers seeking a stable and high-yielding asset. The combination of a low price per square foot, a strong NOI, and a desirable location makes this an exceptional opportunity in the Lubbock market.

Location Insight

City

Lubbock

County

Lubbock

State

Texas

Latitude

33.5621

Longitude

-101.846

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