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8708 19th St 8,008 SF 100% Leased Retail Building Lubbock, TX 79407 $1,598,000 ($199.55/SF) 6.75% Cap Rate
Investment Highlights
- NNN Single Tenant Investment Opportunity
- Corporate Guarantee by Dollar General Corporation
- TEXAS IS A NO STATE INCOME STATE - Enjoy Tax-Free Passive Rental Income
- 15-Year Initial Lease with Five (5), Five Year Options
- Great Population Base of over 250,000 Residents
- NATIONAL INVESTMENT-GRADE TENANT - $40B Revenue S&P Investment Grade BBB. Corporate Guaranteed Lease
Executive Summary
Alliance Investment Real Estate Group is pleased to offer for sale a corporately guaranteed Dollar General located at 8708 19th Street, Lubbock, TX, offered as part of a 2-store portfolio with an additional location at 1006 S. Aspen Ave., New Deal, TX for $1,179,000 also at a 6.75% CAP Rate. Built as a Build-to-Suit property, this absolute NNN-leased asset features zero landlord responsibilities and is backed by Dollar General’s investment-grade credit rating (S&P: BBB) with an attractive CAP for an investor to enjoy passive income. Both leases have initial terms of 15 years that commenced in 2017 and 2018, respectively, with five, (5) year options with 10% rent increases in each option period. The property is also ideally located in front of a residential neighborhood with an elementary school. Lubbock Texas has a population of over 250,000 and is located near Texas Tech University. The asset is also located on a 4 lane highway that runs through the heart of Lubbock and thus generating constant visibility and significant traffic flow.
Texas Broker of Record: Thomas Cervone, Camelot Realty Group, Lic: #0331008
Texas Broker of Record: Thomas Cervone, Camelot Realty Group, Lic: #0331008
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Building Size
8,008 SF
Building Class
B
Year Built
2019
Price
$1,598,000
Price Per SF
$199.55
Cap Rate
6.75%
NOI
$107,908
Percent Leased
100%
Building Height
1 Story
Property Taxes
| Parcel Number | R330671 | Improvements Assessment | $500,644 |
| Land Assessment | $264,445 | Total Assessment | $765,089 |
Property Taxes
Parcel Number
R330671
Land Assessment
$264,445
Improvements Assessment
$500,644
Total Assessment
$765,089
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8708 19th St
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