Family Park Center | 3400-3428 Interstate 27
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Family Park Center 3400-3428 Interstate 27
61,038 SF 100% Leased Retail Building Lubbock, TX 79404 $3,495,000 ($57/SF) 8.57% Cap Rate
Investment Highlights
- Ability to Increase Cash Flow by Leasing Remaining Vacancies
- The Building Features Accessible Parking and Unparalleled Visibility to I-27 Traffic
- I-27 is an Important Transportation Artery in Lubbock and the Surrounding Region, Connecting the City to other parts of Texas and Beyond
- Staggered Remaining Lease terms with an Average Remaining Term of 3.5 Years
- Very Attractive Yield on a Core Lubbock Property
Executive Summary
Lubbock is a city in and near the count seat of Lubbock County, Texas. The city is located in the northeastern part of Texas, a region known historically and geographically as the Llano Estacado. Lubbock had an estimate population of 258,862 in 2019, making it the 84th-most populous city in the United States and the 11th most populous city in the state of Texas. The city is the economic center of the Lobbock Metropolitan area, which had an estimated 2020 population of 327,424.
Property Facts
Sale Type
Investment
Sale Condition
Build to Suit
Property Type
Retail
Building Size
61,038 SF
Building Class
B
Year Built/Renovated
1956/1983
Price
$3,495,000
Price Per SF
$57
Cap Rate
8.57%
NOI
$299,576
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Zoning
IHC
Parking
160 Spaces (2.62 Spaces per 1,000 SF Leased)
Frontage
628 FT on I-27 Hwy Hwy
Amenities
- Freeway Visibility
- Signalized Intersection
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $1,417,577 | |
| Land Assessment | $538,267 | Total Assessment | $1,955,844 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$538,267
Improvements Assessment
$1,417,577
Total Assessment
$1,955,844
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Family Park Center | 3400-3428 Interstate 27
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