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Shopping Strip

Fearless Plaza

2407 9th St, Lubbock, TX 79401

Listing Price: $7,289,000

Cap Rate
6.27%
Gross SF
20,657
Rentable SF
20,657
Price/Gross SF
$352.86
Lot Size
2.05 acres
Year Built
2012

Investment Overview

Marcus & Millichap is pleased to present the opportunity for an investor to acquire a stabilized 20,657-square foot, multi-tenant retail center located in a prime location directly across from Texas Tech University in Lubbock, Texas. Fearless Plaza is comprised of internet-resistant, service-oriented tenants including Torchy’s Tacos, End Zone Liquor, Amazon, Tikka Shack Indian restaurant, and Hawaii Poke & Ramen. All leases are triple-net, providing limited Landlord responsibilities. Situated on a 2.05-acre parcel, the building was constructed in 2012 and has a modern façade. The Torchy’s Tacos lease includes approximately 1,225-square feet of outdoor patio space.

Fearless Plaza is located in a coveted area in the North Overton/Overton Park Development, directly across from Texas Tech University. The subject property is situated one lot west of University Avenue facing 9th Street, enjoying excellent accessibility from multiple ingress points from 9th Street, Avenue X, and 10th Street. The property is two blocks south of the Marsha Sharp Freeway (Highway 82), the city’s major east/west thoroughfare that conveniently connects Interstate 27 to West Loop 289. National and regional retailers in the surrounding area include Raising Cane’s Chicken Fingers, Braum’s, Whataburger, Potbelly Sandwich Shop, Chipotle, Velvet Taco, Chase Bank, FedEx, City Bank, Chili’s Grill & Bar, Starbucks, and others. Walmart Supercenter constructed a new location in the district in 2006, with the building’s architecture coordinated to meet the architectural design and restrictions of Overton Park. Additional traffic to the area comes from several new hotels such as the Overton Hotel & Conference Center, the city’s largest four-star hotel with 304 rooms and suites, restaurant, and bar.

Investment Highlights

  • 20,657-Square-Foot, Multi-Tenant Retail Center | Prime Location Directly Across from Texas Tech University
  • 100% of the Leasable Area is Occupied | All Leases are Triple-Net
  • Current Average Rents are Below Market
  • Located in the North Overton/Overton Park Development, Strategically Located Between Texas Tech University and Downtown | Focal Point of Shopping, Dining and Entertainment for the Surrounding Neighborhoods
  • Texas Tech University is Home to More Than 40,900 Undergraduate and Graduate/Law Students as of Fall 2023

Exclusively Listed By

Financing By

Shopping Strip

Fearless Plaza

Listing Price: $7,289,000

Cap Rate
6.27%
Gross SF
20,657
Rentable SF
20,657
Price/Gross SF
$352.86
Lot Size
2.05 acres
Year Built
2012

Investment Highlights

  • 20,657-Square-Foot, Multi-Tenant Retail Center | Prime Location Directly Across from Texas Tech University
  • 100% of the Leasable Area is Occupied | All Leases are Triple-Net
  • Current Average Rents are Below Market
  • Located in the North Overton/Overton Park Development, Strategically Located Between Texas Tech University and Downtown | Focal Point of Shopping, Dining and Entertainment for the Surrounding Neighborhoods
  • Texas Tech University is Home to More Than 40,900 Undergraduate and Graduate/Law Students as of Fall 2023

Investment Overview

Marcus & Millichap is pleased to present the opportunity for an investor to acquire a stabilized 20,657-square foot, multi-tenant retail center located in a prime location directly across from Texas Tech University in Lubbock, Texas. Fearless Plaza is comprised of internet-resistant, service-oriented tenants including Torchy’s Tacos, End Zone Liquor, Amazon, Tikka Shack Indian restaurant, and Hawaii Poke & Ramen. All leases are triple-net, providing limited Landlord responsibilities. Situated on a 2.05-acre parcel, the building was constructed in 2012 and has a modern façade. The Torchy’s Tacos lease includes approximately 1,225-square feet of outdoor patio space. Fearless Plaza is located in a coveted area in the North Overton/Overton Park Development, directly across from Texas Tech University. The subject property is situated one lot west of University Avenue facing 9th Street, enjoying excellent accessibility from multiple ingress points from 9th Street, Avenue X, and 10th Street. The property is two blocks south of the Marsha Sharp Freeway (Highway 82), the city’s major east/west thoroughfare that conveniently connects Interstate 27 to West Loop 289. National and regional retailers in the surrounding area include Raising Cane’s Chicken Fingers, Braum’s, Whataburger, Potbelly Sandwich Shop, Chipotle, Velvet Taco, Chase Bank, FedEx, City Bank, Chili’s Grill & Bar, Starbucks, and others. Walmart Supercenter constructed a new location in the district in 2006, with the building’s architecture coordinated to meet the architectural design and restrictions of Overton Park. Additional traffic to the area comes from several new hotels such as the Overton Hotel & Conference Center, the city’s largest four-star hotel with 304 rooms and suites, restaurant, and bar.

Exclusively Listed By

Financing By

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