1520 Frank Ave Lufkin, TX 75904

Property Details for 1520 Frank Ave

Year built

2014

Lot size

1.14 lot acres

Property size

8,000 SF

Property type

Office Properties & Spaces

Property subtype

Medical offices

Description

This exceptional investment opportunity presents a fee-simple interest in an 8,000-square-foot medical office building situated on a 1.14-acre lot in Lufkin, Texas. The property is currently 100% occupied under a brand-new, 15-year absolute NNN lease with a reputable tenant, aQua Dialysis, commencing April 4, 2024, and expiring March 31, 2039. The lease includes attractive 3% annual rent escalations, providing a hedge against inflation and consistent cash flow growth. The building, constructed in 2014, boasts 24 dialysis stations and an ISO room, reflecting the tenant's established presence and strong patient base. Strategically located near two major hospitals—St. Luke's Health - Memorial Hospital (167 beds) and Woodlawn Heights Medical Center (149 beds)—the property benefits from a dense medical corridor and high visibility. Its prime location at the intersection of W Frank Avenue and near Interstate 297 ensures excellent accessibility and exposure to high traffic volume. The property's strong financial performance is underscored by a current Net Operating Income (NOI) of $196,380 and a 6.50% capitalization rate. The asking price is $3,021,231, translating to a price per square foot of $377.65. The lease includes two 10-year renewal options, further enhancing the long-term value and stability of this investment. The property's location in Angelina County, Texas, offers the added benefit of being in a state with no income tax. This presents a compelling investment opportunity with significant potential for long-term returns.