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6105 Slide Road, Lubbock, TX 79414

Coldwell Banker Commercial Capital Advisors
Listed by Coldwell Banker Commercial Capital Advisors
$3,797,140
169 days on market
Updated 72 days ago

Aaron's and Rolls & Bowls

Details
Property Type Retail
Sub Type Storefront
Square Footage 24,610
Units 3
Cap Rate 15.6%
NOI $592,367
Occupancy 100%
Brand/Tenant Aarons Furniture, Texas Roadhouse
Price per SqFt $154
Year Built 1988
Year Renovated 2022
Acreage 4.200
Investment Type Stabilized

Retail | 5.71% CAP | 35,516 SF

Marketing description

This property is perfectly situated on the busiest thoroughfare in Lubbock, TX. Located directly across from the South Plains Mall and just off the intersection of Slide Road and S. Loop 289, this site is privy to the more than 180,000 vehicles per day that pass through this part of Lubbock. Surrounded by National retailers, this area of Lubbock draws in the more than 300,000 Lubbock residents as well as the 26 counties that surround Lubbock. These citizens look to Lubbock for all their shopping, dining, and entertainment needs and surpasses over 750,000 citizens in total. - 24,610 SF building - 2 units - Built in 1988 - Renovated in 2022 - Aaron's Signed a primary 7 year lease in 2022 with two (2) Three year options - Aaron's has 2% Annual Base Rent increases Coldwell Banker Commercial, Capital Advisors, the exclusive broker, presents an outstanding opportunity to acquire a prime multi-tenant center featuring Aaron’s Home Furnishings and Rolls & Bowls in Lubbock, TX. This investment offers a compelling prospect for long-term growth and stability, backed by top-performing tenants and a strategic location in one of the most resilient economic markets in Texas. Tenant Highlights Aaron’s Home Furnishings • Two years into a 7-year primary term with two (2) options to extend • Annual 2% base rental increases throughout the primary term and renewal options • Operated by one of the top franchisees in the brand • Recently ranked #2 in store sales nationwide according to their store manager, with strong growth trajectory Rolls & Bowls Center • Signed a 7-year primary term with one (1) five-year option and a 10% bump starting in year 4 • Opening a sister location to their successful All About Cha restaurant in West Lubbock (West End Shopping Center) • Featuring a scaled-down menu with a drive-thru, primed for success Strategic Location This center enjoys a prime location just off the main intersection of Slide Road and S. Loop 289, the busiest intersection in Lubbock. The attractive site is adjacent to the South Plains Mall and surrou nded by national retailers, ensuring a steady flow of customers. Property Highlights • Well-established multi-tenant, NNN property (Landlord responsibl e for roof (replaced in 2019) & Structure) • Prime location in one of the most resilient economic markets in Texas • Top-performing tenants with strong backing and growth potential This opportunity presents a robust prospect for investors seeking a stable and lucrative investment in a prime multi-tenant property. With its strategic location, top-performing tenants, and strong fundamentals, this investment offers a compelling opportunity for long-term growth and stability.

Investment highlights

  • $10,382,722 Sales Price

  • 5.71% cap Rate (Blended between a 5% cap on TXRH and a 7% Cap on Aaron's/All About Cha)

  • Original 20 year Ground Lease with Texas Roadhouse (Feb 2023 Commencement)

  • Largest Texas Roadhouse in the World

  • We have been told that TXRH is #1 in Sales for the entire chain

  • Potential Value Add should TXRH decide to develop on the parking lot as the rent they are paying would increase 1.4X of the then current rate.

  • Aaron's has 5+ years left on their primary term with 2% annual bumps in Base rent

  • Brand New 7 Year lease with a successful local concept called All About Cha (1,500 SF)

  • Prime Location on Slide Road & S. Loop 289 (Across from the South Plains Mall)

  • Full NNN Leases and recovery of up to a 5% Management fee

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Listing Contacts

Coldwell Banker Commercial Capital Advisors
Listed by Coldwell Banker Commercial Capital Advisors

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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$592,367.00
$49,363.92/mo

Valuation Metrics

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DSCR
15.6%
Cap Rate
15.6%
ROI

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