108 Phillips RdBorger, TX 79007

Property Details for 108 Phillips Rd

Year built

1980

Lot size

0.87 AC

Property size (Sq ft)

2,800 SF

Property type

Retail properties

Property subtype

Bars

Description

This 2,800 square foot, single-story retail building in Borger, Texas, presents a unique investment opportunity. Located on 0.87 acres with 70 parking spaces, this property boasts high visibility from IH 119 and 246, benefiting from proximity to the Phillips Refinery with its 1,500+ employees. Built in 1980 and renovated in 2023, the building features a drive-thru window and existing kitchen equipment (condition not guaranteed), including a vent-a-hood, grease trap, and two walk-in coolers/freezers. A prominent 40-foot pylon sign ensures excellent visibility. The property is zoned for commercial use and is offered at $249,900, with owner financing available at 10% down and $1,580 per month with a 5-year balloon payment. A significant advantage is the availability of a $120,000 50/50 grant from Economic Development for tenant improvements. The property's previous use as a Whataburger demonstrates its suitability for various food service businesses, including pizza, beer, wine, and convenience store operations. The occupancy date is October 31, 2024. Cash offers are encouraged for a quicker closing. This property is held by an IRA Financial Trust Company.

Location Insight

City

Borger

County

Hutchinson

State

Texas

Latitude

35.6797

Longitude

-101.38

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