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SWC N Loop 289 & Memphis - 1101 N Memphis 15 Acre Tract

15.81 Acres of Commercial Land Offered at £2,689,318 in Lubbock, TX 79415

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Investment Highlights

Close proximity to Texas Tech University, University Medical Center and Covenant Health Systems
Located in Qualified Opportunity Zone

Frontage road of highly trafficked N Loop 289

Executive Summary

15.81 acres of land located in the heart of the rapidly developing North Loop & Quaker Avenue area of Lubbock, TX within a qualified opportunity zone. The immediate surroundings of the land are abundant with commercial and residential activity. Adjacent to the property to the east is a 220-unit independent living center and a 288-unit student housing complex. Additionally, this property is less than two miles from Covenant Health Systems hospital, University Medical Center, Texas Tech University's Campus with over 40,000 enrolled students, the Lubbock Heart Hospital - NorthStar Medical offices, Wayland Baptist University satellite campus, and a 744-bed student housing complex. Property is located within a Qualified Opportunity Zone (QOF). QOF investors have substantial tax benefits for a property like this. Property is not in the floodplain. Property is zoned HC (Heavy Commercial) formerly C4.

Lubbock, a gem in West Texas, is the 11th largest city in Texas with a regional population of 639,921 people. Its economy includes: manufacturing, agriculture, wholesale and retail trades as well as government, education, and healthcare. Lubbock boasts an accomplished and adept working community connecting the “Hub City” to both national and international markets. It has both affordable utility and living costs making it a model city to maintain a business. There is never a lack of market stimulation since one can find Texas Tech University, Texas Tech University Health Sciences Center, Lubbock Christian University, and the fast-growing South Plains College. When combined, these institutions boast over 50,000 undergraduate students. Along with the higher education establishments, Lubbock is the only city in the nation with a comprehensive university, a health sciences center, an agriculture college and a law school in one location, making Texas Tech University the second largest contiguous university campus in the United States.

1101 N Memphis- Updated Brochure

Property Facts

Price	£2,689,318	Property Subtype	Commercial
Sale Type	Investment	Proposed Use	Commercial Mixed Use Multifamily Hospitality Hospital Hotel Medical Religious Facility
No. Lots	1	Total Lot Size	15.81 AC
Property Type	Land	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Price	£2,689,318
Sale Type	Investment
No. Lots	1
Property Type	Land
Property Subtype	Commercial
Proposed Use	Commercial Mixed Use Multifamily Hospitality Hospital Hotel Medical Religious Facility
Total Lot Size	15.81 AC
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

1 Lot Available

Lot

Price	£2,689,318	Lot Size	15.81 AC
Price Per AC	£170,102

Price	£2,689,318
Price Per AC	£170,102
Lot Size	15.81 AC

$4.95/sq ft approximately 688,684 sq ft of development land

Description

LOCATION: Property is located along the frontage road of N Loop 289 just east of Quaker Avenue and adjacent to Memphis Avenue. DESCRIPTION: 15.81 acres of land located in the heart of the rapidly developing North Loop & Quaker Avenue area of Lubbock, TX within a qualified opportunity zone. The immediate surroundings of the land are abundant with commercial and residential activity. Adjacent to the property to the east is a 220-unit independent living center and a 288-unit student housing complex. Additionally, this property is less than two miles from Covenant Health Systems hospital, University Medical Center, Texas Tech University's Campus with over 40,000 enrolled students, the Lubbock Heart Hospital - NorthStar Medical offices, Wayland Baptist University satellite campus, and a 744-bed student housing complex. Property is located within a Qualified Opportunity Zone (QOF). QOF investors have substantial tax benefits for a property like this. Property is not in the floodplain. Property is zoned HC (Heavy Commercial) formerly C4. Lubbock, a gem in West Texas, is the 11th largest city in Texas with a regional population of 639,921 people. Its economy includes: manufacturing, agriculture, wholesale and retail trades as well as government, education, and healthcare. Lubbock boasts an accomplished and adept working community connecting the “Hub City” to both national and international markets. It has both affordable utility and living costs making it a model city to maintain a business. There is never a lack of market stimulation since one can find Texas Tech University, Texas Tech University Health Sciences Center, Lubbock Christian University, and the fast-growing South Plains College. When combined, these institutions boast over 50,000 undergraduate students. Along with the higher education establishments, Lubbock is the only city in the nation with a comprehensive university, a health sciences center, an agriculture college and a law school in one location, making Texas Tech University the second largest contiguous university campus in the United States.

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