E-Z Mart - GPM | Lubbock, TX | 4426 34th St
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E-Z Mart - GPM | Lubbock, TX 4426 34th St
2,193 SF Retail Building Lubbock, TX 79410 £569,974 (£260/SF) 6.25% Net Initial Yield
Investment Highlights
- 6th Largest Convenience Store in US | ARKO Corp (NASDAQ: ARKO) 2023 Revenue of $9.4 billion
- EZ Mart is part of GPM Investments, LLC a wholly owned subsidiary of ARKO
- Absolute Net Lease | +8 Years Remaining | Below Market Rent | 10% Rent Increases 5/1/2028
- 2.2 miles from Texas Tech University with 40,000+ students | 1.6 miles from Lubbock's Medical District
Executive Summary
TREK Investment Group is pleased to offer for sale EZ Mart in Lubbock, Texas. Featuring an Absolute Net lease with +8 years remaining on the original 15-year term, EZ Mart offers an investor an outstanding investment opportunity in a prime retail location. EZ Mart’s lease includes a 10% rent increases in less than 4 years, as well as in each of the six, 5-year option periods. Situated at the hard corner of 34th Street and Salem Avenue, the subject property is a pad to Family Dollar and is surrounded by other national retailers including Sonic, McDonald's, H&R Bock, O'Reilly Auto Parts and more, sitting less than 1 mile from 5 area schools, and sees traffic counts on 34th Street of 20,500+ VPD. Additionally, EZ Mart is only 2.2 miles from Texas Tech University which has current enrollment of 40,000+ students, as well as 1.6 miles from Lubbock's bustling Medical District.
Property Facts
Sale Type
Investment
Sale Condition
Shell & Core
Property Type
Retail
Property Subtype
Building Size
2,193 SF
Building Class
C
Year Built
1983
Price
£569,974
Price Per SF
£260
Net Initial Yield
6.25%
NOI
£35,623
Tenancy
Single
Number of Floors
1
Building FAR
0.14
Land Acres
0.37 AC
Frontage
199 ft on 34th St
Amenities
- Pylon Sign
- Signage
Walk Score ®
Very Walkable (78)
PROPERTY TAXES
Parcel Number | R29046 | Improvements Assessment | £133,011 |
Land Assessment | £28,709 | Total Assessment | £161,721 |
PROPERTY TAXES
Parcel Number
R29046
Land Assessment
£28,709
Improvements Assessment
£133,011
Total Assessment
£161,721
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E-Z Mart - GPM | Lubbock, TX | 4426 34th St
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