This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
3908 N FM 2528
Lubbock, TX 79416
Land For Sale
·
1.86 AC
PROPERTY FACTS
| Property Type | Land | Total Lot Size | 1.86 AC |
| Property Subtype | Industrial |
| Property Type | Land |
| Property Subtype | Industrial |
| Total Lot Size | 1.86 AC |
DESCRIPTION
The subject property is currently undergoing $1,600,000 in various interior and exterior renovations to include gutting and renovating the office, adding hazardous chemical storage areas, two (2) loading docks, new lighting, spill containment containers, etc. The property will display 5,062 SF of hazardous chemical storage areas within the warehouse with mechanical ventilation systems, firewalls, and other components specific to the tenant’s business. Upon completion, site improvements will include perimeter fencing, three (3) 30’ loading docks, and partial concrete/gravel paving. This property is currently leased with 4 more years left on the lease and two options to up the lease. This is a NNN lease with a 2% increase annually. Current lease rate beginning November 2022 is $69,564 ($5,797 monthly) and the average of the next 4 years is $71,679. Based on the current lease rate this provides a 5.35% ROI. For more information call Ryan McKnight (575) 315-5432. Buyer’s agent must be identified on first contact & must accompany buying prospect on all showings to be allowed full participation. If this condition is not met, fee participation will be at the sole discretion of Caprock Farm and Ranch Realty. Seller’s agent must be present for showings.
