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5730 66th St 5,546 SF Office Building Lubbock, TX 79424 $2,563,313 CAD ($462.19 CAD/SF) 8% Cap Rate
Investment Highlights
- High-traffic location along Slide Road within an active retail corridor.
- High visibility with strong consumer activity supported by national retail.
- Near South Plains Mall and Loop 289, providing excellent regional access.
- Ideal for dental or medical use, with an established tenant in place.
Executive Summary
This NNN-leased dental office investment provides a secure income stream with $150,000 in annual net operating income, reflecting an 8% capitalization rate. Positioned in one of Lubbock's most active retail corridors, the property is strategically surrounded by major retailers and dining establishments, which creates strong consumer traffic and long-term stability. The facility spans 5,546 square feet on a 0.39-acre lot and has recently undergone facade updates to enhance its visual appeal.
The tenant, a well-established dental practice with three locations, has operated here for five years and recently executed a new seven-year lease agreement, including two five-year extension options. This demonstrates strong occupancy commitment and financial stability. Investors benefit from average cash-on-cash returns of 8.6% and a levered IRR of 12.8%.
The tenant, a well-established dental practice with three locations, has operated here for five years and recently executed a new seven-year lease agreement, including two five-year extension options. This demonstrates strong occupancy commitment and financial stability. Investors benefit from average cash-on-cash returns of 8.6% and a levered IRR of 12.8%.
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Medical
Building Size
5,546 SF
Building Class
B
Year Built
1980
Price
$2,563,313 CAD
Price Per SF
$462.19 CAD
Cap Rate
8%
NOI
$205,065 CAD
Tenancy
Single
Building Height
1 Story
Typical Floor Size
5,546 SF
Building FAR
0.33
Lot Size
0.39 AC
Zoning
NC - Neighborhood Commercial
Parking
20 Spaces (3.61 Spaces per 1,000 SF Leased)
Amenities
- Signage
1 1
Fairly walkable
50/100
Very drivable
80/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | R60000 | Improvements Assessment | $887,163 CAD |
| Land Assessment | $89,762 CAD | Total Assessment | $976,926 CAD |
Property Taxes
Parcel Number
R60000
Land Assessment
$89,762 CAD
Improvements Assessment
$887,163 CAD
Total Assessment
$976,926 CAD
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5730 66th St
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