13033 Quaker Ave
Lubbock, TX 79424
Property For Lease

13033 Quaker Avenue Lubbock, Texas 6,039 SF “First Class” Office Building Offering Memorandum FOR SALE Contact: George Malouf c/o Mazi Interests, LLC (806) 236-5186 ghmalouf@gmail.com 13033 Quaker Avenue Lubbock, TX Investment Overview Investment Highlights • High Growth Market • 100% occupied • Attractive Brick & Stone Construction • NNN Leases • Escalating Leases • Over ½ acre of land • 8.4% CAP • New Roof July 2018 Mazi Interests, LLC is pleased to offer for sale this gorgeous office building at 13033 Quaker Avenue in Lubbock, Texas. This property is 100% leased to two Tenants with NNN escalating leases. This property is located on .52 acres in the fast growing south Quaker corridor—one of the fastest growing commercial and residential areas of the city, just outside the planned outer loop at 130th Street. Lubbock Texas is the home of the famous Red Raiders & Texas Tech University. It is at the heart of the South Plains of Texas. The University, the Medical Centers of Lubbock, and the newfound Oil reserves to the south have contributed greatly to the present phenomenal growth. The purchase of this property would make for an excellent opportunity for any investor. 13033 Quaker Avenue Lubbock, Texas Offering Summary Summary ___________________________________________________________________________________________________ Price ---------------------------------------------------------------------------------------------------- $895,000. Price per Square Foot -------------------------------------------------------------------------------- $148.20 Gross Leasable Area ---------------------------------------------------------------------------------- 6,039 SF Land Area ---------------------------------------------------------------------------------------------- .52 Acres Year Built ----------------------------------------------------------------------------------------------- 2015 No. of Stories ------------------------------------------------------------------------------------------- 1 Parking Space Ratio ---------------------------------------------------------------------------------- 3.5/1,000 SF CAP Rate ------------------------------------------------------------------------------------------------ 8.4% Current Net Operating Income --------------------------------------------------------------------- $75,399.24 Office For Sale 13033 Quaker Avenue Lubbock, TX 79424 13033 Quaker Avenue Price $895,000.00 Land Area .52 Acres Building Size 6,039 SF No. Stories 1 Property Type Office Lease NNN 100% Year Built 2015 CAP Rate 8.4% Parking Ratio 3.5 / 1,000 SF 3 Yr. Escalating Lease Expires 5/31/2019 Date Created 08/20/2017 Description: This gorgeous, custom built, quality “First Class” office building is at the heart of huge commercial growth in the South Quaker Corridor, at 130th Street and Quaker Avenue. Drive by traffic and visibility is one of the best features of this location. This first class building, which is divided in two executive offices, each having a reception area, electrical & computer rooms (with 2 private restrooms), a beautiful lobby with fireplace, large conference room (15x17), custom break room with a full kitchen, several storage areas, and an ante-room with built-in wet bar off of one of the executive offices sits on .52 Acres. Upgraded features include special ceiling treatments, upgraded floor finishes, custom moldings, computer cabling, work area with built-in cabinets, IT/file room, built-in cabinets in conference room, wood baseboards, etc. Located in city limits on South Quaker Avenue just south of FM 1585 (130th Street), the building is occupied by two major tenants: State Farm Insurance (occupying 2,175 square feet); and Agnew Associates (major Electrical & Mechanical Engineering Firm for the Texas area occupying 3,864 square feet). 13033 Quaker Avenue 13033 Quaker Avenue Lubbock, Texas 79423 Tenant Profiles SIZE 2,175 SF % OF GLA 36% ANNUAL RENT $27,137.88 LEASE EXPIRATION 05-31-2019 Agnew Associates, Inc. was formed in 1987 to provide mechanical and electrical engineering services to a growing client base in Texas, New Mexico, and Oklahoma. In 1993, the firm was reorganized and its name simplified to Agnew Associates, Inc. to address changing principal responsibilities and to offer its employees additional leadership opportunities. Agnew Associates provides mechanical and electrical engineering, energy, and commissioning services for a variety of clients including K-12 schools, colleges and universities, hospitals and other health care organizations, and municipalities. Agnew Associates is a client-driven consulting engineering firm that is dedicated to service and doing the “right thing” for its clients. The firm is headquartered in Lubbock, Texas, with a branch office in Austin, Texas. SIZE 3,864 SF % OF GLA 64% ANNUAL RENT $48,261.36 LEASE EXPIRATION 05-31-2019 13033 Quaker Avenue, Suite “A,” Lubbock, TX 79423 Rent Roll 2016 - 2019 Tenant SF $/SF/Yr % of Total Space. Base Rent/Yr Taxes @ Yr Insurance @ Yr Base Monthly Start Date Expire Date Agnew Associates (Nathan Agnew) Suite “A” Escalate 3,864 sf $12.00 64% $46,368.00 $13,479.09 $2,099.20 $3,864.00 06/01/2016 12/31/2016 3,864 sf $12.00 64% $46.368.00 $13,479.09 $2,099.20 $3,864.00 01/01/2017 05/31/2017 3,864 sf $12.24 64% $47,295.36 $13,479.09 $2,099.20 $3,941.28 06/01/2017 12/31/2017 3,864 sf $12.24 64% $47,295.36 $13,479.09 $2,099.20 $3,941.28 01/01/2018 05/31/2018 3,864 sf $12.49 64% $48,261.36 $13,479.09 $2,099.20 $4,020.11 06/01/2018 12/31/2018 3,864 sf $12.49 64% $48,261.36 $13,479.09 $2,099.20 $4,020.11 01/01/2019 05/31/2019 APPXMT CAM @ Yr $3,329.64 13033 Quaker “A” Monthly Taxes: $1123.26 13033 Quaker “A” Monthly Insurance: $174.93 13033 Quaker “A” Appxmt. monthly CAM: $277.47 13033 Quaker Avenue, Suite “B,” Lubbock, TX 79423 Rent Roll 2016-2019 State Farm (Kevin Watson) Suite “B” Sf $/Sf/Yr % of Total Space Base Rent @ Yr Taxes @ Yr Insurance @ Yr Base Monthly Start Date Expire Date Escalating 2,175 sf $11.99 36% $26,078.25 $7,581.99 $1,180.80 $2,173.19 06/01/2016 12/31/2016 2,175 sf $11.99