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1006 S Aspen Ave 7,293 SF Retail Building Lubbock, TX 79403 $1,519,980 CAD ($208.42 CAD/SF) 7.15% Cap Rate
Investment Highlights
- NNN Single Tenant Investment Opportunity
- TEXAS IS A NO STATE INCOME STATE - Enjoy Tax-Free Passive Rental Income
- NATIONAL INVESTMENT-GRADE TENANT - $40B Revenue S&P Investment Grade BBB. Corporate Guaranteed Lease
- Corporate Guarantee by Dollar General Corporation
- 15-Year Initial Lease with Five (5), Five Year Options
Executive Summary
Alliance Investment Real Estate Group is pleased to offer for sale a corporately guaranteed Dollar General located at 1006 S. Aspen Ave., Lubbock TX, offered as part of a 2-store portfolio with an additional location at 8708 19th Street, Lubbock, TX for $1,509,000 also at a 7.15% CAP Rate! Built as a Build-to-Suit property, this absolute NNN-leased asset features zero landlord responsibilities and is backed by Dollar General’s investment-grade credit rating (S&P: BBB) with an attractive CAP for an investor to enjoy passive income. Both leases have initial terms of 15 years that commenced in 2018 and 2017, respectively, with five, (5) year options with 10% rent increases in each option period. The property is also ideally located directly Off I-27 which is a major north/South Texas interstate. The Lubbock Texas MSA has a population of over 250,000 and is located near Texas Tech University. The other asset is also located on a 4 lane highway that runs through the heart of Lubbock and thus generating constant visibility and significant traffic flow.
Texas Broker of Record: Thomas Cervone, Camelot Realty Group, Lic: #0331008
Texas Broker of Record: Thomas Cervone, Camelot Realty Group, Lic: #0331008
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Storefront
Building Size
7,293 SF
Building Class
C
Year Built
2019
Price
$1,519,980 CAD
Price Per SF
$208.42 CAD
Cap Rate
7.15%
NOI
$108,701 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.16
Lot Size
1.05 AC
Opportunity Zone
Yes
Not walkable
10/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | R331010 | Improvements Assessment | $784,033 CAD |
| Land Assessment | $24,923 CAD | Total Assessment | $808,956 CAD |
Property Taxes
Parcel Number
R331010
Land Assessment
$24,923 CAD
Improvements Assessment
$784,033 CAD
Total Assessment
$808,956 CAD
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1006 S Aspen Ave
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