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215 University Ave
Lubbock, TX 79415
KFC · Retail Property For Sale

INVESTMENT HIGHLIGHTS

  • Brand New 20-Year Triple-Net (NNN) Sale-Leaseback
  • Four (4), Five (5)-Year Tenant Renewal Options
  • Positioned on the Campus of Texas Tech University
  • 1.25% Annual Rental Increases Starting in Year 6
  • 45-Unit Franchisee Guarantee from Ampex Brands, LLC
  • Strategically Located Directly on University Avenue – Attractive Traffic Counts of 18,900 Vehicles Per Day

PROPERTY FACTS

Property Type
Retail
Property Subtype
Fast Food
Building Size
2,800 SF
Building Class
B
Year Built
1991
Tenancy
Single
Building Height
1 Story
Building FAR
0.12
Lot Size
0.55 AC
Zoning
IHC
Frontage
188’ on University Ave

AMENITIES

  • Pylon Sign
  • Drive Thru

ABOUT 215 UNIVERSITY AVE , LUBBOCK, TX 79415

This KFC property is located at 215 University Ave in Lubbock, Texas. The property is in a densely populated area directly across the street from Texas Tech University. There are approximately 72,600 people within a three-mile radius of this property and 166,700 within a five-mile radius. This is also a very busy area in which KFC will benefit from excellent traffic counts on University Avenue and Marsha Sharp Freeway (US Highway 82). These two roads have an average daily traffic count of 18,900 and 36,000 vehicles, respectively. This area also experiences high volume of foot traffic due to its proximity to the university. The subject KFC is ideally-positioned in a dense retail corridor surrounded by various local and nationally recognized tenants. Major national retailers in the area include: McDonald’s, Starbucks, Walmart, CVS Pharmacy, Subway, IHOP, Raising Cane’s, as well as many other local restaurants, college bars, and small businesses. Texas Tech University is less than one miles from the subject property and enrolls over 26,600 undergraduate students. Additionally, Local schools in the area include Cavazos Middle School and Jackson Elementary School, both of which are located within a quarter-mile of the subject property. Lubbock is the 83rd most populous city in the nation and the 11th most populous city in Texas. The area is the largest contiguous cotton-growing region in the world and is heavily dependent on water drawn from the Ogallala Aquifer for irrigation. Lubbock was selected as the 12th best place to start a small business by CNNMoney.com, as the city’s traditional business atmosphere, low rent for commercial space, central location, and cooperative government were all cited as reasons for the ranking. While Lubbock serves as an economic hub in Texas, the city also offers a variety of cultural events such as the as the annual Independence Day festival and the National Cowboy Symposium and Celebration. Lubbock also has a rich musical history and current day scene. It is home to the West Texas Walk of Fame, as well as classic venues like the Cactus Theater and The Blue Light Live. Lubbock is home to the 17 varsity teams of the Texas Tech University Red Raiders, which compete in the Big 12 Conference. The most popular team is the football team, which has won 11 conference titles and neem to 31 bowl games since the programs founding in 1925.

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
R105042
Land Assessment
$69,924
Improvements Assessment
$441,756
Total Assessment
$511,680
  • Listing ID: 15306314

  • Date on Market: 2/28/2019

  • Last Updated:

  • Address: 215 University Ave, Lubbock, TX 79415

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