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5241 98th St 15,971 SF 100% Leased Office Building Lubbock, TX 79424 $3,900,000 ($244.19/SF) 7.97% Cap Rate
Investment Highlights
- Class A Executive Office Building with Premium Interior Finishes
- Modified Gross Lease w/Tenant Responsible for Taxes, Utilities, Janitorial, Landscaping, HVAC & More • Landlord: Insurance, Roof & Structure
- Additional 1,343 SF Income-Producing Suite
- Primary Lease Through December 31, 2030 • Annual Rental Income: $334,046 • Strong National Professional Services Tenant
- 15,436 Square Feet • Constructed in 2016 • 1.944 Acres • 78 Parking Spaces (5.05/1,000 SF)
- Frontage on 98th Street in High-Growth SW Lubbock • Less than 1 Blk from Slide Road w/ Combined Traffic Volumes Exceed 41,000 Vehicles Per Day
Executive Summary
• This Class A Executive Office Investment presents the opportunity to acquire a high-quality, income-producing asset in one of Southwest Lubbock's premier commercial corridors. Leased through December 2030 to a well-capitalized national professional services firm with a modified gross lease.
• The property offers stable in-place income, a favorable lease structure,
• Premium interior finishes exceptional physical condition, and a highly functional executive office layout designed to support long-term occupancy by professional office users.
• An additional 1,343-square-foot office suite with a private entrance provides supplemental rental income and future leasing flexibility.
• The property offers stable in-place income, a favorable lease structure,
• Premium interior finishes exceptional physical condition, and a highly functional executive office layout designed to support long-term occupancy by professional office users.
• An additional 1,343-square-foot office suite with a private entrance provides supplemental rental income and future leasing flexibility.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
15,971 SF
Building Class
A
Year Built
2016
Price
$3,900,000
Price Per SF
$244.19
Cap Rate
7.97%
NOI
$310,800
Percent Leased
100%
Building Height
1 Story
Typical Floor Size
15,971 SF
Building FAR
0.19
Lot Size
1.94 AC
1 1
Moderately walkable
60/100
Very drivable
80/100
Fairly bikeable
40/100
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Presented by
Kim & Company, Realtors
5241 98th St
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