4521 20Th St Lubbock, TX 79407
- Specialty properties
- 8,460 SF
- 0.73 lot acres
Current Use by Public Records
- Specialty properties
Property Details for 4521 20Th St
- Year built
- 1972
- Lot size
- 0.73 lot acres
- Property size
- 8,460 SF
- Property type
- Specialty properties
- Property subtype
- Lifestyle centers
Description
This exceptional investment opportunity presents a fee-simple, net-leased Sherwin-Williams Paint Store located at 4521 20th St, Lubbock, TX 79407. The property boasts 8,460 square feet on a 0.73-acre lot and benefits from a 10-year lease (commencing May 31, 2024 and expiring May 30, 2034), leaving 9.5 years remaining. The lease features a credit-rated corporate guarantee and attractive 8% rent bumps every five years, ensuring consistent income growth. The current annual net operating income (NOI) is $100,008, resulting in a 6.25% capitalization rate. The asking price is $1,600,125, translating to $189.14 per square foot. Built in 1972, this single-unit property enjoys 100% occupancy and is situated in a high-traffic area with excellent visibility, surrounded by various big-box retailers, apartments, and schools. The property's location within Lubbock, near the city's downtown core, provides access to a dense population exceeding 244,000 residents within a five-mile radius. The lease includes four, five-year renewal options, each with an 8% rent increase. Landlord responsibilities are limited to the foundation and structure. This is a rare opportunity to acquire a stable, high-performing retail investment with a strong tenant and significant upside potential.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lubbock
- County
- Lubbock
- State
- Texas
- Longitude
- -101.909
- Latitude
- 33.5483
