4th Street Retail Plaza

Price: $1,632,000
Sq. Ft.: 7,025
Cap Rate: 7.0%
Built: 1990
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4th Street Retail Plaza is a 7,025-square-foot, multi-tenant retail center located in a densely populated area of Lubbock, Texas. The center is currently 100 percent occupied, and all leases are triple-net. Tenants are a complementary mix of internet-resistant businesses including AT&T, Endzone Liquor, and Fancy Nails & Spa. AT&T and Endzone Liquor are long-term tenants, having occupied the center for over 22 years and 13 years, respectively. The AT&T store has a strong guarantee from the largest AT&T authorized retailer in the nation. Endzone Liquor and Fancy Nails & Spa leases both have personal guarantees. Originally constructed in 1990, the center is situated on 0.78 acres with concrete parking,

The subject property is located on 4th Street, near the signalized intersection of 4th Street and Frankford Avenue and just west of Loop 289. Traffic Counts in front of the property exceed 17,280 vehicles per day on 4th Street. The property is near a top performing Walmart Supercenter, ranking in the 82nd percentile based on annual visitors to all Walmart stores in the state of Texas and the 88th percentile in the United States (Source: Placer Labs Inc.). Other retailers in the in the area include Bahama Buck’s, Sonic Drive-In, Wendy’s, Little Caesars Pizza, Taco Bell, GameStop, Chick-fil-A, Raising Cane’s, Dollar Tree, WingStop, Cato, Sally Beauty Supply, Spec’s, Whataburger, Slim Chickens, and many others.┬áThe surrounding area is densely populated with more than 152,244 residents within a five-mile radius.

The subject property is less than four miles from Texas Tech University, Texas Tech University Health Sciences Center, and University Medical Center, the primary teaching hospital for the Health Sciences Center. Texas Tech University, the sixth-largest college in the state with an enrollment of more than 40,700 undergraduate and graduate students, is the largest economic driver in the region, providing population and employment stability.

  • Three-Tenant Retail Center | 100% Occupied | All Leases are Triple-Net
  • Shadow Anchored by a Top Performing Walmart Supercenter | Ranked in the 82nd Percentile for the State of Texas and 88th Percentile in the United States Based on Consumer Traffic Compared to Other Walmart Locations (source: Placer Labs Inc.)
  • AT&T Lease is Guaranteed by the Largest AT&T Authorized Retailer in the Nation | The Other Two Leases have Personal Guarantees
  • AT&T and Endzone Liquor have Occupied the Center for More Than 22 Years and 13 Years, Respectively
  • Current Average Rents are Below Market | Future Upside Potential
  • Located Near the Signalized Intersection of 4th Street and Frankford Avenue | 17,281 Vehicles per Day on 4th Street | 21,096 Vehicles per Day on Frankford Avenue
  • Just West of Loop 289, a Complete Loop Freeway Encircling the City Providing Quick Access in All Directions
  • Densely Populated with More Than 152,244 Residents Within a Five-Mile Radius
  • Close Proximity to Texas Tech University | Current Enrollment Exceeds 40,700 Undergraduate and Graduate/Law Students
  • Lubbock is the “Hub City” for the South Plains | Economic, Educational, and Healthcare Hub of a Multi-County Region
  • Air Service Provided by Lubbock Preston Smith International Airport | Approximately 520,000 Passengers Annual (United States Department of Transportation, 2019)