Frankford Square Shopping Center

Price: $4,340,000
Sq. Ft.: 41,023
Cap Rate: 8.42%
Built: 2007

Frankford Square Shopping Center is a 41,023-square foot, multi-tenant retail center located in the southwestern portion of Lubbock, Texas. The center is currently 96 percent occupied, with a complementary mix of service-oriented businesses, including The Office Grill & Sports Bar, Lumber Liquidators, Studio Xfit, The Tilted Chip, Hot and Juicy Seafood, Members of West Texas Kids Clinic, Edward Jones, Nails Palace, and Onin Staffing. Additional income is derived from leases for tenant storage in the back portion of the building. Constructed in 2007, the center is situated on 3.16 acres with a concrete parking lot.

The subject property is located on the signalized hard corner of Frankford Avenue and 50th Street near the intersection of two major thoroughfares, Loop 289 and Marsha Sharp Freeway (US-62). Frankford Square is easily accessible from multiple ingress and egress points. Cumulative traffic counts are approximately 26,000 vehicles per day. Ashley HomeStore is adjacent to the property, and Lowe’s Home Improvement is located directly across from Ashley. Other retailers in the area include Sherwin-Williams, Cavender’s Western Outfitter, Chuck E. Cheese, Harley-Davidson, Joe’s Crab Shack, Cinemark Movies 16, Arby’s, HobbyTown, Goodwill, and more. Additional traffic comes from several nearby hotels, including TownePlace Suites by Marriott, Hampton Inn & Suites, and Homewood Suites. South Plains Mall is located one and one-half miles southeast of the property, featuring over 145 retailers and anchored by Dillard’s, JCPenney, Bealls, Barnes & Noble, and Premiere Cinemas. The surrounding area is densely populated with more than 204,000 residents within a five-mile radius.

  • 41,023-Square Foot, Multi-Tenant Retail Center
  • 96% Occupied | 81% of the Gross Leasable Area has Triple-Net Leases
  • Complementary Mix of Service-Oriented, Internet-Resistant  Businesses
  • Priced at $105 per Square Foot | Well Below Replacement Cost
  • Located at the Signalized Hard Corner of Frankford Avenue and 50th Street | Cumulative Traffic Counts are Approximately 26,000 Vehicles Per Day
  • Easily Accessible from Multiple Ingress and Egress Points
  • Catty Corner from Lowe’s Home Improvement and Adjacent to Ashley HomeStore
  • Several Nearby Hotels Provide Additional Traffic to the Area
  • Densely Populated with More Than 204,000 Residents Within a Five-Mile Radius
  • Approximately 1.5 Miles from South Plains Mall | Anchored by Dillard’s, JCPenney, Bealls, Barnes & Noble, and Premiere Cinemas | Features 145 Retailers
  • Lubbock is the “Hub City” for the South Plains | Economic, Educational, and Healthcare Hub of a Multi-County Region
  • Home to Texas Tech University | Current Enrollment Exceeds 38,800 Undergraduate and Graduate/Law Students
  • Air Service Provided by Lubbock Preston Smith International Airport | Approximately 500,000 Passengers Annual (United States Department of Transportation, 2019)