7905 Milwaukee AveLubbock, TX 79424

Property Details for 7905 Milwaukee Ave

Year built

2014

Lot size

1.16 AC

Property size (Sq ft)

6,468 SF

Property type

Other commercial real estate

APN

R323262

APU

R323262

Description

This exceptional investment opportunity presents a 6,500-square-foot Class A medical office building in Lubbock, Texas. Located on a 1.16-acre lot, the property boasts 44 parking spaces and is currently 100% occupied by a credit-rated tenant under a triple-net (NNN) lease expiring January 30, 2030. The tenant, the largest healthcare institution in West Texas and eastern New Mexico, operates the facility as a Hospital Outpatient Department (HOPD), ensuring high reimbursement rates. Built in 2014, this single-story building offers a strong net operating income (NOI) of $494,835, resulting in a 6.83% cap rate. The asking price is $7,250,000, representing a compelling return on investment. The lease includes rent bumps, providing future income growth. This fee-simple ownership opportunity offers a stable, long-term investment in a high-growth area of Lubbock, a major medical hub in West Texas. The property's strategic location within a high-income demographic area further enhances its investment appeal. The remaining lease term is approximately 5.2 years.

• Alternative Use

  Use

  Valuation

  Residential

  $1,098,356

  Hospitality

  $1,006,088

  Educational

  $837,054

  Medical

  $865,841

  Retail

  $1,302,083

Location Insight

City

Lubbock

County

Lubbock

State

Texas

Latitude

33.5212

Longitude

-101.957

CBSA code

31180

CBSA name

LUBBOCK, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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