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5004 122nd St 5,535 sq ft 100% Let Office Property Lubbock, TX 79424 £1,121,663 (£202.65/sq ft) 5.17% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Stable Income Stream: Currently leased to a reputable regional company in the medical industry, boasting over 40 locations, which signifies a strong a
- Prime Location: Strategically located in South Lubbock, near the bustling intersection of Slide Road and 122nd Street, enhancing visibility and access
- Growth Potential: Positioned in a growth-oriented area with potential for future appreciation due to its location and quality of the asset.
- Attractive Lease Terms: Benefiting from an escalating lease agreement through January 31, 2028, this investment offers a predictable and increasing in
- High-Quality Asset: A modern garden office space encompassing 5,535 square feet, constructed in 2019 with renovations completed in 2022 to meet the te
EXECUTIVE SUMMARY
This exceptional property represents a significant investment opportunity, currently leased to a stable regional company operating within the medical industry. With over 40 locations, the tenant's robust presence underscores the investment's reliability. The lease features an escalating structure, ensuring a steady increase in returns through January 31, 2028.
Situated in a prime South Lubbock location, near the intersection of Slide Road and 122nd Street, the large garden office space spans 5,535 square feet. Constructed in 2019, it underwent renovations in 2022 to tailor the premises to the specific requirements of the current tenant, maintaining the space in an impeccable, like-new condition.
This offering not only delivers on immediate returns but promises growth and stability in an attractive locale, making it an ideal addition to any investment portfolio.
Situated in a prime South Lubbock location, near the intersection of Slide Road and 122nd Street, the large garden office space spans 5,535 square feet. Constructed in 2019, it underwent renovations in 2022 to tailor the premises to the specific requirements of the current tenant, maintaining the space in an impeccable, like-new condition.
This offering not only delivers on immediate returns but promises growth and stability in an attractive locale, making it an ideal addition to any investment portfolio.
PROPERTY FACTS
Sale Type
Investment or Owner Occupier
Property Type
Office
Property Subtype
Property Size
5,535 sq ft
Costar Property Class
B
Year Built
2019
Price
£1,121,663
Price per sq ft
£202.65
Yield
5.17%
NOI
£57,953
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
1
Typical Floor Size
5,535 sq ft
Plot ratio
0.23
Total Plot Size
0.55 ac
Use Class
OF - Office
Parking
50 Spaces (9.03 Spaces per 1,000 sq ft Leased)
1 1
PROPERTY TAXES
| Parcel Number | R326850 | Improvements Assessment | £612,989 |
| Land Assessment | £89,920 | Total Assessment | £702,909 |
PROPERTY TAXES
Parcel Number
R326850
Land Assessment
£89,920
Improvements Assessment
£612,989
Total Assessment
£702,909
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5004 122nd St
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