3400 I-27 Lubbock, TX 79404
- Lifestyle centers
- 60,685 SF
- 3.75 lot acres
Current Use by Public Records
- Lifestyle centers
Property Details for 3400 I-27
- Year built
- 1955
- Lot size
- 3.75 lot acres
- Property size
- 60,685 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This Lubbock, Texas shopping center offers a compelling investment opportunity with a strong 8.57% cap rate and a desirable location on I-27. The 60,685 square foot property boasts eight units, currently 93.82% occupied, generating a net operating income (NOI) of $299,576. Anchored by Dollar Tree and Harbor Freight, the center benefits from a newly signed 10-year lease with Dollar Tree and staggered lease terms averaging 4.1 years remaining. The low price per square foot of $57.59 is significantly below replacement cost. Nearly half of the tenants have occupied the space for over a decade, demonstrating strong tenant loyalty and stability. Built in 1955, the property sits on a 3.75-acre lot and features ample accessible parking, providing unparalleled visibility to the high-traffic I-27 corridor, a major transportation artery connecting Lubbock to the rest of Texas. This well-maintained property presents a rare chance to acquire a high-performing retail asset in a prime Lubbock location. The property's strong tenant mix, favorable lease terms, and strategic location make it an attractive investment for discerning buyers seeking a stable and high-yielding asset. The combination of a low price per square foot, a strong NOI, and a desirable location makes this an exceptional opportunity in the Lubbock market.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lubbock
- County
- Lubbock
- State
- Texas
- Longitude
- -101.846
- Latitude
- 33.5621
