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Whataburger 2412 9th St 2,680 SF Retail Building Lubbock, TX 79401 $2,200,000 ($820.90/SF) 4.69% Cap Rate
INVESTMENT HIGHLIGHTS
- 13+ Years Remaining | Options To Extend | Scheduled Rental Increases
- Across From Texas Tech University (40,000+ Students) | Jones AT&T Stadium (60,000 Seats) | Dense Retail Corridor
- Absolute NNN | Fee Simple Ownership
- Strong Demographics In 5-Mile Trade Area
EXECUTIVE SUMMARY
• Corporate signed lease by Whataburger Restaurants, LLC
• Over 13 years remaining with 3 (5-year) option periods to extend
• The lease features 10% rental increases every 5 years and at the beginning of each option period, growing NOI and hedging against inflation
• Over 13 years remaining with 3 (5-year) option periods to extend
• The lease features 10% rental increases every 5 years and at the beginning of each option period, growing NOI and hedging against inflation
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
2,680 SF
Building Class
B
Year Built/Renovated
2012/2020
Price
$2,200,000
Price Per SF
$820.90
Cap Rate
4.69%
NOI
$103,235
Tenancy
Single
Building Height
1 Story
Building FAR
0.12
Lot Size
0.51 AC
Zoning
MU-3 - General
Parking
27 Spaces (10.07 Spaces per 1,000 SF Leased)
AMENITIES
- Corner Lot
- Pylon Sign
- Signage
Walk Score®
Very Walkable (71)
Bike Score®
Very Bikeable (70)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | R317827 | Improvements Assessment | $654,080 |
| Land Assessment | $445,920 | Total Assessment | $1,100,000 |
PROPERTY TAXES
Parcel Number
R317827
Land Assessment
$445,920
Improvements Assessment
$654,080
Total Assessment
$1,100,000
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Whataburger | 2412 9th St
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