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Murphy USA

2701 50th St, Lubbock, TX 79413

Listing Price: $1,867,000

Cap Rate
5.25%
Tenant Name
Murphy Express
Years Remaining On Lease
19.8
Gross SF
2,500
Guarantor
Corporate Guarantee
Rentable SF
2,500
Price/Gross SF
$746.80
Lease Type
Ground Lease
Rent Per Square Feet
$39.20

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a ground lease in Lubbock, Texas. The property consists of 2,500-square-foot freestanding building that sits on approximately 0.77 acres of land. There are approximately 20 years remaining on the current lease term with 8% rental increases every 5 years.

Investment Highlights

  • New 20-Year Ground Lease with 8 Percent Rental Escalations Scheduled Every Five Years
  • Signalized Hard Corner Location on 50th Street and Boston Ave; Combined Traffic Counts Exceed 34,103 VPD
  • More than 215,297 Residents Within a Five-Mile Radius
  • Near Texas Tech University
  • Outparcel to Caprock Center, a 255,614-SF Shopping Center (Ross Dress for Less, Dollar Tree) Shadow Anchored by the Home Depot
  • Corporate Guarantee by Murphy Oil USA, Inc. (NYSE: MUSA)
  • 2023 Construction
  • Strong Commercial Corridor with Easy Access to Loop 289 & Interstate 27

Exclusively Listed By

Financing By

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Murphy USA

Listing Price: $1,867,000

Cap Rate
5.25%
Tenant Name
Murphy Express
Years Remaining On Lease
19.8
Gross SF
2,500
Guarantor
Corporate Guarantee
Rentable SF
2,500
Price/Gross SF
$746.80
Lease Type
Ground Lease
Rent Per Square Feet
$39.20

Investment Highlights

  • New 20-Year Ground Lease with 8 Percent Rental Escalations Scheduled Every Five Years
  • Signalized Hard Corner Location on 50th Street and Boston Ave; Combined Traffic Counts Exceed 34,103 VPD
  • More than 215,297 Residents Within a Five-Mile Radius
  • Near Texas Tech University
  • Outparcel to Caprock Center, a 255,614-SF Shopping Center (Ross Dress for Less, Dollar Tree) Shadow Anchored by the Home Depot
  • Corporate Guarantee by Murphy Oil USA, Inc. (NYSE: MUSA)
  • 2023 Construction
  • Strong Commercial Corridor with Easy Access to Loop 289 & Interstate 27

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a ground lease in Lubbock, Texas. The property consists of 2,500-square-foot freestanding building that sits on approximately 0.77 acres of land. There are approximately 20 years remaining on the current lease term with 8% rental increases every 5 years.

Exclusively Listed By

Financing By

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