407 Lamesa Hwy Stanton, TX 79782
Call to check price and availability
Grocery store & office space, high cap rate.
Property size:
2,232 SFProperty Features for 407 Lamesa Hwy
General Information
- Property type
- Individual retail properties
- Square Feet
- 2,232 SF
- Lot Size
- 6,142 SF
Building Details
- Year Built
- 1983
- Stories
- 1
- Units
- 3
Listing Agency: MO MC LLC Listing Agent: Megan Everett
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This exceptional Stanton, Texas investment property, located at 407 Lamesa Hwy N, presents a compelling opportunity. The 2,232 square foot building, constructed in 1983, sits on a 0.141-acre lot and boasts a strong 10% capitalization rate. Currently configured as a multi-tenant retail and office space, with three individual units, two are already leased, resulting in a 75% occupancy rate. The gross lease structure simplifies management. Each unit features its own electric meter, HVAC system, and restrooms. A vacant exterior storage unit is available for tenant use. The property benefits from recent renovations and is zoned for other uses (see remarks). The asking price is $275,000, translating to $123.21 per square foot and a land value of approximately $1,950,354.61 per acre. The remaining lease term on the occupied units is three years. Annual property taxes are $760.50. Parking details are available upon request. Ceiling height is less than 20 feet. This property offers significant potential for income growth and value appreciation. Buyers are responsible for verifying taxes, insurance, and zoning information. Directions: From I-20BL W, turn right onto N Lamesa Rd
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Blazing smoke shop
(Bike/Boat/Book/etc) Store
Christon Cabinet Shop
General Contractor
Map
- City
- Stanton
- County
- Midland
- State
- Texas
- Longitude
- -101.8046844
- Latitude
- 32.1374902
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FAQs
What type of property is this?
Individual retail property - Grocery store & office space, high cap rate.
Where is this individual retail property located?
The property is located at 407 Lamesa Hwy Stanton, TX.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 2,232 SF multi-tenant retail/office building on a 0.141-acre lot in Stanton, TX.; 10% capitalization rate, 75% occupancy (two of three units leased, three-year lease term remaining).; Gross lease structure, individual unit meters, HVAC, and restrooms. Exterior storage unit available.
