Marcus & Millichap is pleased to present the opportunity to acquire a 17,280-square-foot, multi-tenant retail center located in Lubbock, Texas. The center is 100 percent occupied with a master lease, with all triple-net leases. The property provides a complimentary mix of retail tenants including restaurants and service-oriented businesses.
Lubbock Plaza is located just off the signalized intersection of 4th Street and Frankford Avenue and just west of Loop 289. The traffic counts around the property are strong and exceed 29,000 vehicles per day on Frankford Avenue and 17,000 on 4th Street.
The subject property is an out parcel to one of the top-performing Walmart Supercenters in Texas. It ranks in the 93rd percentile in the United States for annual visitors, which is reported at over 3 million a year (Source: Placer Labs Inc.). Other surrounding retailers include Bahama Buck’s, Sonic, AT&T, Wendy’s, Taco Bell, Chick-Fil-A, Slim Chickens, Dollar Tree, Spec’s, Whataburger, Sonic Drive-In, and many others.
- 100% Occupied Multi-Tenant Retail Center With a Master Lease | All Leases are Triple-Net
- Property Leased Well Below Market Rents | Rents in Lubbock for Shadow-Anchored Retail up to $25/SF NNN
- Outparcel to Walmart Supercenter | Top 93% of Walmart Stores In The United States With Over 3 Million Annual Visitors
- Property Priced at $183/SF, Well Below Replacement Cost
- Healthy Mix of Service-Oriented Businesses and Retail Establishments
- Area Occupancy Rates at 98.85% Market Average | Stable Vacancy Rates in Strip Centers and Neighborhood Retail
- Surrounded by National Retail Tenants Such As Taco Bell, Wendy’s, Sonic, Whataburger, Dollar Tree, Pizza Hut, Chick-Fil-A, and Many Others
- Excellent Traffic Counts | 17,280 VPD on 4th Street | 29,312 VPD on Frankford Avenue
- Just West of Loop 289, A Complete Loop Freeway Encircling the City | Provides Quick Access in All Directions
- Densely Populated With More Than 152,244 Residents Within a Five-Mile Radius
- Less Than 5 Miles Away From Texas Tech University | Current Enrollment Exceeds 40,700 Undergraduate and Graduate Students
