
5202 82nd St
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5202 82nd St
6,643 SF Office Building Lubbock, TX 79424 $2,158,000 ($324.85/SF) 8% Cap Rate


INVESTMENT HIGHLIGHTS
- High Traffic Area
- Strong National Tenant
- New 7yr Lease
- Prime Location
EXECUTIVE SUMMARY
NNN investment opportunity in SW Lubbock with a new seven-year lease (Covenant Medical Center). This 6,630 SF medical urgent care, previously licensed as a Texas free-standing emergency room, boasts versatile usage options, including urgent care medical facilities, outpatient surgery, physical therapy, chemotherapy treatment, and more. The property enjoys high visibility with about 33,000 (VPD), surrounded by retail centers, restaurants, and offices. The property features a comprehensive infrastructure, including a KOHLER Natural Gas Emergency Generator – Modal 125REGC, 4 Emergency Suites, 4 Exam Suites, a Nurse’s Station, a Secure Medication Storage Room, a Laboratory Room, X-Ray Suite, CT Suite, Clean Storage Room, Soiled Storage Room, Doctor’s Sleep Room, Lobby/Reception area, Med Gas Storage, VAC Pump Storage, and an Electrical, Phone, and Internet Closet. Tenant is Covenant Health System, owned by Providence Healthcare, the 7th largest health system by net patient revenue in the United States. 3,000 (VPD), surrounded by retail centers, restaurants, and offices (Property features continued on page 2.)This property has a land lease with 30 years remaining on the lease.
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
Ground Lease (Leasehold)
Property Type
Office
Property Subtype
Medical
Building Size
6,643 SF
Building Class
B
Year Built
2015
Price
$2,158,000
Price Per SF
$324.85
Cap Rate
8%
NOI
$172,640
Tenancy
Single
Building Height
1 Story
Typical Floor Size
6,643 SF
Building FAR
0.29
Lot Size
0.52 AC
Zoning
AC - Auto-Urban Commercial
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Medical
- Health Care and Social Assistance
- 6,643 SF
- $325.49
- Triple Net
- -
TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
Medical | Health Care and Social Assistance | 6,643 SF | $325.49 | Triple Net | - |
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PROPERTY TAXES
Parcel Number | R83873 | Improvements Assessment | $1,677,078 |
Land Assessment | $270,000 | Total Assessment | $1,947,078 |
PROPERTY TAXES
Parcel Number
R83873
Land Assessment
$270,000
Improvements Assessment
$1,677,078
Total Assessment
$1,947,078
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5202 82nd St
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