CLUB4 Fitness | Dollar Tree 2705-2713 50th St

64,286 SF 100% Leased Retail Building Lubbock, TX 79413 $11,890,000 ($185/SF) 7.25% Cap Rate

Investment Highlights

  • NNN Lease Structures | Attractive Rent Increases
  • New Roof
  • Supportive Demographics | Dense Trade Area
  • High Performance Long-Term Tenant
  • Surrounding Leasing Velocity
  • Strong Texas Market | Income Tax-Free State

Executive Summary

STABILITY AND EASE OF OWNERSHIP
As part of Caprock neighborhood shopping center, this property is 100% leased to Dollar Tree and CLUB4 Fitness on a NNN basis with new 10-year leases. The building has undergone extensive renovation including a new roof, exterior and interior upgrades, and new tenant finish-outs. New ownership will benefit from long-term tenant commitment and a highly renovated building.
TOP PERFORMING DOLLAR TREE
This exceptional location is the #1 ranked Dollar Tree store in the Lubbock market and ranks in the top 6% among all Dollar Tree stores nationally (Placer.ai). Operating from this location since 2004, Dollar Tree recently signed its 4th lease extension with a 28% rent increase and a new 10-year firm lease term solidifying their commitment to this exceptional location.
CLUB4 FITNESS CONTINUES STRATEGIC EXPANSION
C4F's regional expansion throughout Texas and the Southeast to meet the strong consumer demand for clean, modern fitness facilities at affordable rates continues at this ideal location. The corporately managed facility will bring a full-service fitness facility to this densely populated area of Lubbock with great traffic and strong target demographics featuring a diverse mix of family and college student households. C4F signed a new 10-year lease in 2024 and is completing their full renovation in this new facility. C4F will be one of only two full-service fitness facilities within 2.5 miles, covering a dense population of college students and families in the immediate surrounding neighborhoods.
STRONG IMMEDIATE AREA LEASING VELOCITY AND NEW DEVELOPMENT
This infill Lubbock intersection along 50th Street at University Avenue has experienced a surge in new leases in recent months and years. New leases and development surround the property including incoming Five Below and DD's along with recent developments of Murphy USA, Lonestar Suds, and HTeaO beverage drive-thru.
HIGH TRAFFIC INFILL LOCATION
Located along 50th Street at the intersection with University Avenue, Caprock is situated within 2 miles of Texas Tech University (42,000+ students) and generates a combined 60,000 vehicles per day at the intersection.
"HUB CITY"
Lubbock serves areas as far as Oklahoma City and Albuquerque and has evolved into one of the most diverse economies in the state. Industries spanning health care, technology, agriculture, manufacturing, education, and retail continue to thrive in Lubbock. A Level-1 trauma center that services a 250-mile radius and a tier-1 university further solidify the market as the Hub City of West Texas and eastern New Mexico.

Attachments

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Property Facts

Sale Type
Investment
Property Type
Retail
Building Size
64,286 SF
Building Class
B
Year Built/Renovated
1960/2005
Price
$11,890,000
Price Per SF
$185
Cap Rate
7.25%
NOI
$862,025
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.33
Lot Size
4.52 AC
Parking
650 Spaces (10.11 Spaces per 1,000 SF Leased)
Frontage
639 FT on 50th St

Amenities

  • Pylon Sign
  • Signage
  • Signalized Intersection

MAJOR TENANTS Click Here to Access

  • Tenant
  • Industry
  • SF OCCUPIED
  • RENT/SF
  • Lease Type
  • Lease End
  • CLUB4 Fitness
  • Retailer
  • 99,999 SF
  • -
  • Lorem Ipsum
  • Jan 0000
  • Retailer
  • 99,999 SF
  • -
  • Lorem Ipsum
  • Jan 0000

At Dollar Tree, their customers can expect to find an environment where shopping is fun. They're known for their “thrill-of-the-hunt” shopping experience where customers can discover new, exciting items every week, from everyday essentials to fun craft, seasonal, and party merchandise. Many of the items they carry sell for more elsewhere, which means that their customers can stretch their dollars to get the products they need at an extreme value. They remain fiercely committed to their mission of bringing their customers extreme value every day, along with more thrills, more fun & new items every week! Dollar Tree carries a broad, exciting mix of consumable, variety, and seasonal merchandise that includes many trusted national and regional brands. In the midst of massive growth, Dollar Tree remains committed to their original mission: giving customers extreme value at low prices. With stores in the U.S. and Canada, they are fulfilling that mission more now than ever before.

Tenant Industry SF OCCUPIED RENT/SF Lease Type Lease End
CLUB4 Fitness Retailer 99,999 SF - Lorem Ipsum Jan 0000
Retailer 99,999 SF - Lorem Ipsum Jan 0000

Nearby Major Retailers

Rent-A-Center
Rosa's Cafe
Starbucks
Market Street
Planet Fitness
Buddy's Home Furnishings
Prosperity Bank

PROPERTY TAXES

  • Listing ID: 33626561

  • Date on Market: 10/24/2024

  • Last Updated:

  • Address: 2705-2713 50th St, Lubbock, TX 79413