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Views: 185 DOM: 400 Updated: 11.08.24 Posted: 11.18.23 Status: Active

Summary

Price $875,000
Built/Renov 1951
Tenant ACB Thrift Store
Cap Rate 7.55%
Lease Type NN+
Guarantor Corporate
Size/SF 22,300
Lease Start 06-01-2023
#Units 2
Price/SF $39.24
Expiration 05-31-2028
Tenant Type General Retail
NOI $66,040
R. Term 3.5
Ownership Fee Simple
Rent/SF $2.96
Increases 0.0%/5/yrs
Pop 5Mi 177,763
Lot/AC 0.77
Options 0/0yrs
AHHI 5Mi $66,270

Lease Highlights

  • ABC Thrift Store has 4+ years remaining on the current lease term
  • Renewal options to be negotiated every 5 years
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guaranteed lease

Location Description

ACB Thrift Store is strategically located on 34th Street, with access to 16,400 vehicles passing by daily. Conveniently situated just off Interstate 27 (with 54,600 VPD) and US-84 (with 17,400 VPD), it is ideally positioned just 2 miles from downtown Lubbock. The property is within a densely populated residential, retail, and education corridor, in close proximity to multiple schools and local...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: ACB Thrift Store
  • Guarantor:Corporate
  • Company:American Council of the Blind
  • # Units:2
  • Stock:Non-Profit

About Tenant

The American Council of the Blind (ACB) is a national non-profit organization that advocates for a diverse range of special-interest groups within the blind and visually impaired community. The...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 12,685 83,448 175,453
2023 Total Population : 12,656 83,008 174,003
2023 Employed Civilian Pop : 5,616 36,210 81,725
2023 Total Businesses : 510 4,123 7,550
2023 Average Household Income : $ 49,980 $ 60,539 $ 74,692
2023 Total Consumer Spending : $ 209 M $ 1616 M $ 4381 M
2023 Median Age : 31 28 31
2023 Total Households : 4,732 30,305 66,956
2023 Pop Age 25+: Bachelor's Degree : 591 7,033 19,689
2023 Average Home Value : $ 97,890 $ 173,643 $ 206,395
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
34th St Ave N 2008 22,000 0.02 mi
Ave P 33rd St 2017 2,620 0.08 mi
34th St Ave Q 2017 17,241 0.15 mi
34th St Ave L 2010 16,918 0.15 mi
Ave L 34th St 2017 2,878 0.17 mi
34th St Ave L 2010 15,588 0.17 mi
Ave L 34th St 2010 2,538 0.17 mi
34th St Ave Q 2010 12,593 0.19 mi
32nd St Ave Q 2017 858 0.20 mi
Ave Q 34th St 2010 32,420 0.21 mi

Listing Broker

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