8708 19th St - Retail FOR SALE


Lubbock, TX 79407- Northwest Lubbock
$1,598,000 USD
949-683-6662
8708 19th St, Lubbock, TX for Sale
$1,598,000 USD
Retail - FOR SALE
1/1
null | 6.75% Cap Rate

8708 19th St
Lubbock, TX 79407
Northwest Lubbock


HIGHLIGHTS

  • NNN Single Tenant Investment Opportunity
  • 15-Year Initial Lease with Five (5), Five Year Options
  • Corporate Guarantee by Dollar General Corporation
  • Great Population Base of over 250,000 Residents
  • TEXAS IS A NO STATE INCOME STATE - Enjoy Tax-Free Passive Rental Income
  • 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 8708 19th Street, Lubbock, TX, offered as part of a 2-store portfolio with an additional location at 1006 S. Aspen Ave., New Deal, TX for $1,179,000 also at a 6.75% 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 2017 and 2018, respectively, with five, (5) year options with 10% rent increases in each option period. The property is also ideally located in front of a residential neighborhood with an elementary school. Lubbock Texas has a population of over 250,000 and is located near Texas Tech University. The 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

$1,598,000 USD

PRICE/SF

$200 USD /SF

CAP RATE

6.75%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2019

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

R330671

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.