2401 20th St Lubbock, TX 79411-1003
- Office buildings
- 3,368 SF
- 0.34 lot acres
Jun 09, 2023
Current Use by Public Records
- Office buildings
Property Details for 2401 20th St
- Year built
- 1954
- Lot size
- 0.34 lot acres
- Property size
- 3,368 SF
- Zone code
- 38
- Property type
- Office buildings
- APN
- R35266
- APU
- R35266
Description
This exceptional investment opportunity presents a well-maintained, multi-tenant office building located at 2401 20th Street in Lubbock, Texas, 79411. The property, classified as a Class B Traditional Office building, encompasses 8,438 square feet and is currently 50% occupied. The asking price is $900,000, translating to a price per square foot of $106.66. The building boasts a strong net operating income (NOI) of $84,000, yielding an attractive 9.33% capitalization rate. The property is zoned for commercial use and offers ample parking with a 3:1 parking ratio. Two of the four office spaces are currently leased at $10 per square foot annually. This presents a solid foundation for immediate income generation and potential for future growth. Its strategic location on 20th Street, between University and Avenue X, places it in close proximity to Texas Tech University, ensuring a consistent demand for office space. Detailed financial information, including the rent roll, is available upon request. This is an ideal investment for those seeking a stable, high-return property in a thriving Texas market. The property is offered as a package deal, providing a streamlined acquisition process.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $315,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $360,000
Market price range: $178k - $590k
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Lubbock
- County
- Lubbock
- State
- Texas
- Longitude
- -101.868
- Latitude
- 33.5763
- CBSA code
- 31180
- CBSA name
- LUBBOCK, TX METROPOLITAN STATISTICAL AREA
