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    7905 Milwaukee Ave Lubbock, TX 79424

    Sponsored
    For Sale
    $7,250,000

    High-yield, credit-rated medical office building.

    Property size:
    6,500 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a 6,500-square-foot Class A medical office building in Lubbock, Texas. Located on a 1.16-acre lot, the property boasts 44 parking spaces and is currently 100% occupied by a credit-rated tenant under a triple-net (NNN) lease expiring January 30, 2030. The tenant, the largest healthcare institution in West Texas and eastern New Mexico, operates the facility as a Hospital Outpatient Department (HOPD), ensuring high reimbursement rates. Built in 2014, this single-story building offers a strong net operating income (NOI) of $494,835, resulting in a 6.83% cap rate. The asking price is $7,250,000, representing a compelling return on investment. The lease includes rent bumps, providing future income growth. This fee-simple ownership opportunity offers a stable, long-term investment in a high-growth area of Lubbock, a major medical hub in West Texas. The property's strategic location within a high-income demographic area further enhances its investment appeal. The remaining lease term is approximately 5.2 years.

    Property Features for 7905 Milwaukee Ave

    General Information

    Property type
    Medical offices
    Square Feet
    6,500 SF
    Class
    A
    Lot Size
    50,530 SF

    Building Details

    Year Built
    2014
    Buildings
    1
    Stories
    1

    HighLights

    • Tenant is Covenant Health System.
    • Covenant Health System is West Texas and Eastern New Mexico's largest healthcare provider.
    • Backed by Providence St. Joseph Health System, with an AA- credit rating.
    • Ranked "Best Hospital" in Northwest Texas by U.S. News & World Report.
    • Over 5,000 employees and 600 providers.
    • Over 87,500 annual emergency room visits (adult and pediatric).
    Property Profile Location Intelligence

    Current Use by Public Records

    Covenant Medical Center ... Medical Center Covenant Health Emergency ... Emergency Room Enrico Gulua Aguas Internist Dr. Daniel Berman Emergency Care Physician

    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
    -101.9567495049
    Latitude
    33.521208056547

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    FAQs

    What type of property is this?
    Medical office - High-yield, credit-rated medical office building.
    Where is this medical office located?
    The property is located at 7905 Milwaukee Ave Lubbock, TX.
    What is the asking price?
    The asking price for this property is $7,250,000.
    What are key features of this property?
    This property features: Tenant is Covenant Health System.; Covenant Health System is West Texas and Eastern New Mexico's largest healthcare provider.; Backed by Providence St. Joseph Health System, with an AA- credit rating.
    Request Owner's contact information
    7905 Milwaukee Ave 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
    7905 Milwaukee Ave Lubbock, TX 79424
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