708 SE Loop 289
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708 SE Loop 289
30,300 SF Retail Building Lubbock, TX 79404 £1,735,800 (£57/SF)
Investment Highlights
- Two warehouse complex with fenced stack yard
- 22,00 SF constructed in 2016
- 35 tons of HVAC
- 8,300 SF constructed in 1971
- Compressed air lines and compressor
- Multiple Ground Level Overhead Doors
Executive Summary
Quality construction industrial property with SE Loop 289 frontage. The property consists of 2 buildings. The original building was built in 1971 and has 8,300 SF with 2 offices, a break room, 2 restrooms, open warehouse space, and 2 drive-thru bays (one with a floor drain). The second building was built in 2016 and is 22,000 SF. There is an open reception area/showroom with an office and restroom as you enter the building. An overhead door and walk-thru door take you into the open warehouse space with ample 2,800 amp 3 phase electrical, compressed air run throughout, two ten-ton HVAC units, and 4 overhead doors. Both buildings are fenced and fully enclosed with parking and stack yard areas. The property is NOT in a flood zone.
As of October 1, 2023, the Unified Development Code will be in effect for the City of Lubbock. The new zoning will be Light Industrial (LI) this will allow industrial uses (non-retail) that are less intensive than what can be accommodated into Heavy Industrial and that may include office, warehousing, distribution, and light assembly of parts, materials, and equipment, with operations conducted indoors without the creation of smoke, gas, odor, dust, soon or other noxious elements. (This was previously under the zoning of Manufacturing 1 (M-1) & Interstate Highway Industrial (IHI).
https://ci.lubbock.tx.us/departments/planning/unified-development-code
As of October 1, 2023, the Unified Development Code will be in effect for the City of Lubbock. The new zoning will be Light Industrial (LI) this will allow industrial uses (non-retail) that are less intensive than what can be accommodated into Heavy Industrial and that may include office, warehousing, distribution, and light assembly of parts, materials, and equipment, with operations conducted indoors without the creation of smoke, gas, odor, dust, soon or other noxious elements. (This was previously under the zoning of Manufacturing 1 (M-1) & Interstate Highway Industrial (IHI).
https://ci.lubbock.tx.us/departments/planning/unified-development-code
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Freestanding
Building Size
30,300 SF
Building Class
B
Year Built/Renovated
1971/2016
Price
£1,735,800
Price Per SF
£57
Tenancy
Single
Number of Floors
1
Building FAR
0.39
Land Acres
1.80 AC
Zoning
LI - Light Industrial
Parking
60 Spaces (1.98 Spaces per 1,000 SF Leased)
Frontage
394 ft on Tx-289-loop Hwy
Amenities
- Pylon Sign
- Signage
- Air Conditioning
Space Availability
- Space
- Size
- Space Use
- Position
- Available
- 1st Floor
- 8,300-30,300 SF
- Retail
- -
- Now
| Space | Size | Space Use | Position | Available |
| 1st Floor | 8,300-30,300 SF | Retail | - | Now |
1st Floor
| Size |
| 8,300-30,300 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
PROPERTY TAXES
| Parcel Number | R106483 | Improvements Assessment | £1,220,686 |
| Land Assessment | £46,340 | Total Assessment | £1,267,026 |
PROPERTY TAXES
Parcel Number
R106483
Land Assessment
£46,340
Improvements Assessment
£1,220,686
Total Assessment
£1,267,026
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708 SE Loop 289
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