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2615 W 24th St
Plainview, TX 79072
Office Property For Sale


Investment Highlights
- Strategically positioned near Interstate 27 with convenient regional connectivity.
- Generating $114,000 in net operating income with an 8% cap rate.
- Close proximity to schools, medical facilities, and recreational destinations.
- Secure seven-year lease term with two five-year renewal options, showing tenant stability.
Executive Summary
This NNN-leased dental office investment opportunity provides stability and predictable returns in the heart of Plainview, Texas. The property generates approximately $114,000 in annual net operating income, supporting an 8% first-year cap rate, with a current sales price of $1,425,000. Spanning 3,838 square feet on a 0.39-acre site, the building is strategically located just off Interstate 27 in a highly visible service corridor near key anchors, including Plainview ISD, Covenant Hospital, childcare centers, and the Plainview baseball and football stadiums. The area benefits from steady consumer activity, strong local demographics, and proximity to retail, medical, and educational destinations. A recently executed seven-year lease, inclusive of two additional five-year renewal options, reflects long-term tenant commitment. Ongoing and planned facade enhancements further contribute to property value and long-term curb appeal. With a historically stable dental operator and a well-established patient base, this asset positions buyers for reliable income with growth potential. Investors also have the option to acquire this property as part of a multi-property portfolio alongside its companion location in Lubbock, Texas.
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Medical
Building Size
3,838 SF
Building Class
B
Year Built
1971
Price
$1,948,118 CAD
Price Per SF
$507.59 CAD
Cap Rate
8%
NOI
$155,849 CAD
Tenancy
Single
Building Height
1 Story
Typical Floor Size
3,838 SF
Building FAR
0.22
Lot Size
0.41 AC
Zoning
GC - GC
Parking
8 Spaces (2.08 Spaces per 1,000 SF Leased)
Property Taxes
| Parcel Number | 23142 | Improvements Assessment | $781,797 CAD |
| Land Assessment | $15,206 CAD | Total Assessment | $797,003 CAD |
Property Taxes
Parcel Number
23142
Land Assessment
$15,206 CAD
Improvements Assessment
$781,797 CAD
Total Assessment
$797,003 CAD
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