1006 S Aspen Ave - Storefront FOR SALE


Lubbock, TX 79403
$1,113,000 USD
949-683-6662
1006 S Aspen Ave, Lubbock, TX for Sale
$1,113,000 USD
Storefront - FOR SALE
1/1
null | 7.15% Cap Rate

1006 S Aspen Ave
Lubbock, TX 79403


HIGHLIGHTS

  • NNN Single Tenant Investment Opportunity
  • Corporate Guarantee by Dollar General Corporation
  • TEXAS IS A NO STATE INCOME STATE - Enjoy Tax-Free Passive Rental Income
  • 15-Year Initial Lease with Five (5), Five Year Options
  • NATIONAL INVESTMENT-GRADE TENANT - $40B Revenue S&P Investment Grade BBB. Corporate Guaranteed Lease

OVERVIEW

Alliance Investment Real Estate Group is pleased to offer for sale a corporately guaranteed Dollar General located at 1006 S. Aspen Ave., Lubbock TX, offered as part of a 2-store portfolio with an additional location at 8708 19th Street, Lubbock, TX for $1,509,000 also at a 7.15% CAP Rate! Built as a Build-to-Suit property, this absolute NNN-leased asset features zero landlord responsibilities and is backed by Dollar General’s investment-grade credit rating (S&P: BBB) with an attractive CAP for an investor to enjoy passive income. Both leases have initial terms of 15 years that commenced in 2018 and 2017, respectively, with five, (5) year options with 10% rent increases in each option period. The property is also ideally located directly Off I-27 which is a major north/South Texas interstate. The Lubbock Texas MSA has a population of over 250,000 and is located near Texas Tech University. The other asset is also located on a 4 lane highway that runs through the heart of Lubbock and thus generating constant visibility and significant traffic flow. Texas Broker of Record: Thomas Cervone, Camelot Realty Group, Lic: #0331008

FOR SALE DETAILS

PRICE

$1,113,000 USD

PRICE/SF

$153 USD /SF

CAP RATE

7.15%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2019

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.05 AC

LAND SF

45,738 SF

ZONING

-

APN/PARCEL ID

R331010

ASK ABOUT THIS PROPERTY

Ruben KhorsandiAlliance Investment Real Estate GroupMore Info
949-683-6662

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Ruben KhorsandiAlliance Investment Real Estate GroupMore Info
949-683-6662

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.