7905 Milwaukee Ave Lubbock, TX 79424
- Commercial real estate
- 6,468 SF
- 1.16 lot acres
Current Use by Public Records
- Covenant Medical Center Freestanding ER / Medical Center
- Covenant Health Emergency Center - Milwaukee Ave. / Emergency Room
- Enrico Gulua Aguas / Internist / Emergency Care Physician
- Dr. Daniel Berman / Emergency Care Physician / Practitioner Service Location
Property Details for 7905 Milwaukee Ave
- Year built
- 2014
- Lot size
- 1.16 lot acres
- Property size
- 6,468 SF
- Property type
- Commercial real estate
- APN
- R323262
- APU
- R323262
Description
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.
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
- -101.957
- Latitude
- 33.5212
- CBSA code
- 31180
- CBSA name
- LUBBOCK, TX METROPOLITAN STATISTICAL AREA
