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1812 Avenue R 909 SF 100% Leased Office Building Lubbock, TX 79401 $385,000 ($423.54/SF)
Investment Highlights
- Heavy traffic area close to Texas Tech University
- Potential to build townhomes or apartments
- Triple net lease
Executive Summary
Exceptional investment and development opportunity with multiple income streams in a prime high-traffic location near Texas Tech University. The property includes a fully leased commercial building occupied by a tattoo shop on a 3-year NNN lease generating $1,800 per month, plus a billboard producing an additional $150 per month in rental income. Also included are three adjacent parcels (1808 19th, 1812 Ave R, 1814 Ave R), creating outstanding potential for future development. Situated just off 19th Street in a highly visible area with strong traffic counts, this property offers immediate cash flow and long-term upside. Seller is willing to share existing plans for a proposed 5-unit townhome development, making this a rare opportunity for investors, developers, or those seeking a value-add project in a growing market.
Property Facts
Sale Type
Investment NNN
Property Type
Office
Building Size
909 SF
Building Class
C
Year Built
1940
Price
$385,000
Price Per SF
$423.54
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
909 SF
Building FAR
0.45
Lot Size
0.05 AC
Parking
8 Spaces (8.8 Spaces per 1,000 SF Leased)
Amenities
- Signage
Fairly walkable
50/100
Exceptionally drivable
100/100
Some public transit
40/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | R313894 | Improvements Assessment | $45,800 |
| Land Assessment | $4,200 | Total Assessment | $50,000 |
Property Taxes
Parcel Number
R313894
Land Assessment
$4,200
Improvements Assessment
$45,800
Total Assessment
$50,000
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1812 Avenue R