5202 82Nd StLubbock, TX 79424

Property Details for 5202 82Nd St

Year built

2015

Lot size

0.52 AC

Property size (Sq ft)

6,630 SF

Zone code

38

Property type

Commercial real estate

APN

R83873

APU

R83873

Description

This exceptional Class A, 6,630 square foot medical office building presents a compelling NNN investment opportunity in the rapidly growing southwest sector of Lubbock, Texas. Located at 5202 82nd St, Lubbock, TX 79424, this single-tenant property boasts 100% occupancy with a new seven-year lease in place with Covenant Medical Center, a subsidiary of Providence Healthcare, the 7th largest health system in the US by net patient revenue. The building, constructed in 2015, sits on a 22,500 square foot lot and features a comprehensive layout designed for medical use, including four emergency suites, four exam suites, a nurse's station, secure medication storage, laboratory and X-ray/CT suites, and ample storage. Additional amenities include a Kohler natural gas emergency generator and a convenient location with high visibility on a major thoroughfare experiencing approximately 33,000 vehicles per day, surrounded by complementary retail and commercial establishments. The property benefits from a 30-year remaining land lease and offers a strong 8.00% cap rate with a net operating income (NOI) of $1,742,994 and an asking price of $2,158,000 ($325.49/sq ft). The versatile design allows for various medical uses, such as urgent care, outpatient surgery, physical therapy, or chemotherapy treatment. This investment offers a secure, high-return opportunity in a thriving market. The permitted zoning is AC.

• Alternative Use

  Use

  Valuation

  Residential

  $1,125,866

  Hospitality

  $1,031,287

  Educational

  $858,019

  Medical

  $887,527

  Retail

  $1,334,696

Location Insight

City

Lubbock

County

Lubbock

State

Texas

Latitude

33.5201

Longitude

-101.923

CBSA code

31180

CBSA name

LUBBOCK, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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