2615 W 24th St - Medical FOR SALE


Plainview, TX 79072
$1,425,000 USD
806-239-0804
2615 W 24th St, Plainview, TX for Sale
$1,425,000 USD
Medical - FOR SALE
1/20
null | 8% Cap Rate

2615 W 24th St
Plainview, TX 79072


HIGHLIGHTS

  • Strategically positioned near Interstate 27 with convenient regional connectivity.
  • Close proximity to schools, medical facilities, and recreational destinations.
  • Generating $114,000 in net operating income with an 8% cap rate.
  • Secure seven-year lease term with two five-year renewal options, showing tenant stability.

OVERVIEW

This NNN-leased dental office investment opportunity provides stability and predictable returns in the heart of Plainview, Texas. The property generates approximately $114,000 in annual net operating income, supporting an 8% first-year cap rate, with a current sales price of $1,425,000. Spanning 3,838 square feet on a 0.39-acre site, the building is strategically located just off Interstate 27 in a highly visible service corridor near key anchors, including Plainview ISD, Covenant Hospital, childcare centers, and the Plainview baseball and football stadiums. The area benefits from steady consumer activity, strong local demographics, and proximity to retail, medical, and educational destinations. A recently executed seven-year lease, inclusive of two additional five-year renewal options, reflects long-term tenant commitment. Ongoing and planned facade enhancements further contribute to property value and long-term curb appeal. With a historically stable dental operator and a well-established patient base, this asset positions buyers for reliable income with growth potential. Investors also have the option to acquire this property as part of a multi-property portfolio alongside its companion location in Lubbock, Texas.

FOR SALE DETAILS

PRICE

$1,425,000 USD

PRICE/SF

$796 USD /SF

CAP RATE

8%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

1971

SPRINKLERS

-

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.41 AC

LAND SF

17,689 SF

ZONING

GC

APN/PARCEL ID

23142

ASK ABOUT THIS PROPERTY

David PowellKW LubbockMore Info
806-239-0804

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David PowellKW LubbockMore Info
806-239-0804

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