Prime Retail Redevelopment Opportunity 7006 University Ave

Investment Highlights

Redevelopment Opportunity | Value-Add Property | Huge Upside Potential | Substantially Below Market Rents Signalized Hard Corner | Traffic Counts of 82,000+ VPD on TX Loop 289 | Toot'n Totum Convenience Store is now Open 2 Years Remaining on Current Absolute NNN Lease | No Options Remain Surrounded by National Retailers such as Target, McDonalds, Chick-fil-a, Walgreens and numerous others

Executive Summary

TREK Investment Group is pleased to offer for sale a prime retail redevelopment opportunity in Lubbock, Texas. This exceptional value-add property offers a rare investment opportunity to acquire of a 2,902 square foot retail building with only 2 years left and no options remaining on the current Absolute NNN lease. There is substantial upside potential through renovation, redevelopment, and increased rents as the current rent is significantly below the current market average. This retail site is strategically located on a signalized hard corner of University Avenue and Texas 289 Loop Frontage Road, boasting traffic counts just shy of 82,000 vehicles per day on Loop 289 which serves as the main traffic loop around the city. In addition, a Toot'n Totum convenience store and gas station is now open which will generate additional significate traffic flow onto the property. The subject property is situated within a dense and growing neighborhood with an average household income exceeding $90,600 while also being surrounded by an array of well-known national retailers such as Target, McDonalds, Dairy Queen, Dunkin?, Chick-fil-a, Walgreens and numerous others.

• Sale Type    Investment NNN
• Sale Condition    Redevelopment Project
• Property Type    Retail
• Property Subtype    Restaurant Restaurant General Retail Fast Food General Retail Freestanding Restaurant
• Building Size    2,902
• Building Class    B
• Year Built    1983
• Price    750,000
• Price Per SF    258
• Tenancy    Single
• Building Height    1 Story
• Building FAR    0.15
• Land Acres    0.43 AC

• Freeway Visibility
• Signage