Address
5217 50Th Street Lubbock, TX
Price
$ 690,000
Property Attributes
  • MLS#202002058
  • TypeCommercial
  • CountyLUBBOCK
  • CityLubbock
  • Area3
  • Neighborhood306
  • Zip79414
  • StyleRetail
  • Price$ 690,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage7240
  • Lot Size0.56 Acres
Listing Provided Courtesy Of:
WestMark Companies
Property Description

This property is currently occupied by Town South Floral and Panache Salon. Town South will execute a three-year lease at closing. Panache is occupied by multiple stylist that pay a weekly booth rent. Many of the stylists are long term tenants with some in place over 20 years. Gross income of $94,818 with flower shop lease back and cap rate of 8.7% Long Term Tenants in Place Oversize Parking Lot with Over 60 Spaces Numerous Recent Updates Including HVAC, Electrical, & Parking Lot Seal Coat Value Add Opportunity as Vacant Stylist Booths Are Rented 50th Street Frontage

Price History
3/6/2020 Listed $690,000

General Features

Ceiling Height 0.0
Cooling Central Electric
County Lubbock
Crops No
Miscellaneous All Weather Parking, Paved Parking
Price Per Square Foot 95.30
Property SubType Retail
Property Type Commercial Sale
Retail Type Street Retail
Road Frontage City
Security Deposit 0.00
Subdivision Name 306
Tax Annual Amount 0.00

Interior Features

Floors 1
Living Area 7240.00
Utilities City Sewer, ElectricityAvailable, Telephone

Exterior Features

Exterior Construction Stucco/EIFS
Foundation Details Slab
Lot Improvements Curbs/Gutters
Lot Size Acres 0.56
Lot Size Source (Tax Data)
Lot Size Square Feet 24500.00
Price Per Acre 1226884.78

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 79414

Price
AVG $790K
$690K
Visits
AVG 9
2
Walkscore
AVG 65
64
Data Provided by Walkscore ® not using MLS data

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