Listed by Mitley, LLC
$699,000
4 units on 34th Street | 75% occupied | value-add
Details
Property Type Retail, Office
Sub Type Shopping Center, Traditional Office
Square Footage 9,000
Net Rentable (SqFt) 9,000
Cap Rate 8.35%
NOI $58,334
Occupancy 75%
Tenancy Multi
Pro-Forma Cap Rate 13.2%
Pro-Forma NOI $92,303
Price per SqFt $78
Broker Co-Op True
Class B
Year Built 1951
Buildings 3
Stories 1
Zoning Commercial
Investment Type Value Add
Tenant Credit No Credit Rating, Corporate Guarantee
Ground Lease No
Ownership Fee-simple
4 units on 34th Street | 75% occupied | value-add
Marketing description
We are thrilled to present a new portfolio investment – featuring 75% occupancy – with incredible upside. All 4 units are located on Lubbock’s famous 34th Street.
The package can be sold together or split separately. The portfolio provides value-add opportunities for a new investor through leasing the one vacant unit.
Tours: We encourage buyers to drive by each property. Tours will be arranged upon acceptance of an offer.
Investment highlights
Asking Price: $729,000
2025 NOI: $58,334.33 (75% occupied)
Actual CAP Rate: 8.35%
Pro-Forma NOI: $92,302.91
Pro-Forma CAP Rate: 13.20%
Listing Contacts
Listed by Mitley, LLC
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$58,334.33
$4,861.19/mo
Valuation Metrics
0
DSCR
8.35%
Cap Rate
8.35%
ROI
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