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    5202 82Nd St Lubbock, TX 79424

    For Sale
    $2,158,000

    High-yield NNN medical investment.

    Property size:
    6,630 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    366
    This exceptional Class A, 6,630 square foot medical office building presents a compelling NNN investment opportunity in the rapidly growing southwest sector of Lubbock, Texas. Located at 5202 82nd St, Lubbock, TX 79424, this single-tenant property boasts 100% occupancy with a new seven-year lease in place with Covenant Medical Center, a subsidiary of Providence Healthcare, the 7th largest health system in the US by net patient revenue. The building, constructed in 2015, sits on a 22,500 square foot lot and features a comprehensive layout designed for medical use, including four emergency suites, four exam suites, a nurse's station, secure medication storage, laboratory and X-ray/CT suites, and ample storage. Additional amenities include a Kohler natural gas emergency generator and a convenient location with high visibility on a major thoroughfare experiencing approximately 33,000 vehicles per day, surrounded by complementary retail and commercial establishments. The property benefits from a 30-year remaining land lease and offers a strong 8.00% cap rate with a net operating income (NOI) of $1,742,994 and an asking price of $2,158,000 ($325.49/sq ft). The versatile design allows for various medical uses, such as urgent care, outpatient surgery, physical therapy, or chemotherapy treatment. This investment offers a secure, high-return opportunity in a thriving market. The permitted zoning is AC.

    Property Features for 5202 82Nd St

    General Information

    Property type
    Medical offices
    Square Feet
    6,630 SF
    Class
    A

    Building Details

    Year Built
    2015
    Buildings
    1
    Stories
    1

    HighLights

    • High‑traffic corner location at major intersection.
    • New 7‑year lease in place.
    • Located in Lubbock's rapidly developing southwest submarket.
    • Creditworthy national tenant.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Western Union Money Transfer Service Celeste Xochitl Twelves ... Pediatrician Jake Westerberg Pediatrician Covenant Children's Urgent ... Urgent Care Center Celeste Caballero, MD Pediatrician

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lubbock
    County
    Lubbock
    State
    Texas
    Longitude
    -101.92268748225
    Latitude
    33.520186970104

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    FAQs

    What type of property is this?
    Medical office - High-yield NNN medical investment.
    Where is this medical office located?
    The property is located at 5202 82Nd St Lubbock, TX.
    What is the asking price?
    The asking price for this property is $2,158,000.
    What are key features of this property?
    This property features: High-traffic corner location at major intersection.; New 7-year lease in place.; Located in Lubbock's rapidly developing southwest submarket.
    Request Owner's contact information
    5202 82Nd St Lubbock, TX 79424
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    5202 82Nd St Lubbock, TX 79424
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