5501 Slide Rd Lubbock, TX 79414-4102

Property Details for 5501 Slide Rd

Year built

1988

Lot size

1.05 lot acres

Property size

6,498 SF

Zone code

38

Property type

Turn key restaurants

APN

R45654

APU

R45654

Description

This exceptional investment opportunity presents the chance to acquire the leased fee interest (land ownership) in a brand-new, 4,000 square foot Hawaiian Bros restaurant in Lubbock, Texas. The property boasts a 15-year absolute NNN lease with five 5-year renewal options, commencing June 30, 2024, and expiring June 30, 2039. The lease includes 10% rental increases every five years, providing built-in protection against inflation and steadily growing net operating income (NOI) currently at $150,000. Situated on a 1.04-acre lot with 53 parking spaces, this property enjoys a prime location at the signalized intersection of Slide Rd and 50th St, benefiting from high visibility and significant daily traffic volume exceeding 66,800 vehicles. Its proximity to major roadways like TX-289 (over 81,900 VPD) and South Plains Mall, along with nearby national retailers such as Walmart, Lowe's, Target, and Sam's Club, ensures strong consumer traffic and tenant synergy. The property is zoned Neighborhood Commercial (NC) and benefits from a strong demographic profile within a 5-mile radius, boasting a population exceeding 240,600 and an average household income of $88,698. The experienced franchisee, Stine Ventures, LLC, has over 40 years of restaurant experience. The asking price is $2,727,000, representing a 5.50% cap rate. This is a truly management-free investment opportunity with significant long-term growth potential.

Location Insight

City

Lubbock

County

Lubbock

State

Texas

Longitude

-101.922

Latitude

33.544

CBSA code

31180

CBSA name

LUBBOCK, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments