Westar Property: 807

Address:230 Ave Q, Lubbock, TX
Price:$460,000.00
Tract Size (SF):21,874.00
Tract Size (AC):0.50
Building SF:9,265.00
Available SF:9,265.00
Utilities:Yes
PDF Flier:Click Here
Description:
The building is currently under a Lease Agreement with Victor Baez dba Kings Tire Service. Current lease rate is $4,000/Mo, which escalates to $5,500 in July of 2019 for the remainder of the term. Tenant has Right of First Refusal to purchase the property though 12/31/2018. After that date the Tenant still has a Right of First Refusal based on a firm offer from a purchaser. The Cap Rate is currently 10.4%, but goes up to 14.3% until the expiration of the Lease Agreement.

Westar Property: 807

Address:230 Ave Q, Lubbock, TX
Tract Size (SF):21,874.00
Tract Size (AC):0.50
Building SF:9,265.00
Available SF:9,265.00
Utilities:Yes
PDF Flier:Click Here
Description:
The building is currently under a Lease Agreement with Victor Baez dba Kings Tire Service. Current lease rate is $4,000/Mo, which escalates to $5,500 in July of 2019 for the remainder of the term. Tenant has Right of First Refusal to purchase the property though 12/31/2018. After that date the Tenant still has a Right of First Refusal based on a firm offer from a purchaser. The Cap Rate is currently 10.4%, but goes up to 14.3% until the expiration of the Lease Agreement.