5241 98th St - Office/Residential FOR SALE


Lubbock, TX 79424
$3,900,000 USD
806-790-7142
5241 98th St, Lubbock, TX for Sale
$3,900,000 USD
Office/Residential - FOR SALE
1/43
null | 7.97% Cap Rate

5241 98th St
Lubbock, TX 79424


HIGHLIGHTS

  • Class A Executive Office Building with Premium Interior Finishes
  • Primary Lease Through December 31, 2030 • Annual Rental Income: $334,046 • Strong National Professional Services Tenant
  • Modified Gross Lease w/Tenant Responsible for Taxes, Utilities, Janitorial, Landscaping, HVAC & More • Landlord: Insurance, Roof & Structure
  • 15,436 Square Feet • Constructed in 2016 • 1.944 Acres • 78 Parking Spaces (5.05/1,000 SF)
  • Additional 1,343 SF Income-Producing Suite
  • Frontage on 98th Street in High-Growth SW Lubbock • Less than 1 Blk from Slide Road w/ Combined Traffic Volumes Exceed 41,000 Vehicles Per Day

OVERVIEW

• This Class A Executive Office Investment presents the opportunity to acquire a high-quality, income-producing asset in one of Southwest Lubbock's premier commercial corridors. Leased through December 2030 to a well-capitalized national professional services firm with a modified gross lease. • The property offers stable in-place income, a favorable lease structure, • Premium interior finishes exceptional physical condition, and a highly functional executive office layout designed to support long-term occupancy by professional office users. • An additional 1,343-square-foot office suite with a private entrance provides supplemental rental income and future leasing flexibility.

FOR SALE DETAILS

PRICE

$3,900,000 USD

PRICE/SF

$253 USD /SF

CAP RATE

7.97%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Office/Residential

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

A

YEAR BUILT

2016

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.94 AC

LAND SF

84,702 SF

ZONING

-

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Kim FlennikenKim & Company, RealtorsMore Info
806-790-7142

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Kim FlennikenKim & Company, RealtorsMore Info
806-790-7142

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