1603 Acc Rd Lubbock, TX 79416
- Office Properties & Spaces
- 8,508 SF
- 0.62 lot acres
Current Use by Public Records
- Office Properties & Spaces
Property Details for 1603 Acc Rd
- Year built
- 1984
- Lot size
- 0.62 lot acres
- Property size
- 8,508 SF
- Property type
- Office Properties & Spaces
- Property subtype
- Medical offices
Description
This exceptional investment opportunity presents a single-tenant, 8,508-square-foot office building in Lubbock, Texas. Located at 1603 W Loop 289 Acc Rd, 79416, this Class B property boasts a prime location at the intersection of TX-289 Loop and TX-114, two major thoroughfares with a combined daily traffic volume exceeding 67,000 vehicles. The building, constructed in 1984 and situated on a 0.62-acre lot, is currently 100% occupied by a credit-rated, investment-grade corporate tenant under a triple-net (NNN) lease. The lease commenced August 1, 2022, with a five-year term and includes two five-year renewal options, providing a remaining lease term of approximately 2.7 years. The tenant, a globally recognized company with over 2,000 locations worldwide, has occupied the premises since 1986. The property features a recently replaced roof (2022) and offers a strong net operating income (NOI) of $136,128, resulting in an attractive 7.00% capitalization rate. The asking price is $1,944,686, translating to a price per square foot of $228.57. The property benefits from its proximity to Lubbock International Airport (12 miles) and Texas Tech University (less than 3 miles), and is surrounded by numerous national and regional retailers, including Academy, Walmart, Chick-fil-A, and more. This is a rare opportunity to acquire a stable, high-performing investment property with a long-standing corporate tenant in a thriving Texas market.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lubbock
- County
- Lubbock
- State
- Texas
- Longitude
- -101.942
- Latitude
- 33.5798
