Investment Overview

Mira Vista Shopping Center is a grocer shadow-anchored, 25,560-square-foot, multi-tenant retail center located in a densely populated area of Lubbock, Texas. The center is currently 100 percent leased, and 88 percent of the gross leasable area is on triple-net terms. Tenants are a complementary mix of service-oriented businesses, including Asian Food Market, A+ Massage, Expo Nails & Spa, Apex Threading, The Soda Shack, Adam & Eve, Yamagata Japanese Steakhouse, Locker Room Haircuts, Papa John's Pizza, Le Chic Boutique, and Gas Bunny. Additional income is derived from an ATM leased to Amarillo National Bank located in the subject property's parking lot. Constructed in 2004, the center is situated on 3.31 acres with ample paved parking. Both buildings have a metal roof, and The Soda Shack suite features a drive-through window. A double-sided pylon sign positioned at the property entrance provides additional exposure to the center. The subject property is located on 82nd Street, near the signalized intersection with Frankford Avenue. Traffic counts in front of the property exceed 46,600 vehicles per day. Adjacent pad sites include Pinkie's Liquor and Covenant Medical Group. Shadowed by United Supermarkets, other neighboring retailers include Pet Supplies Plus, AutoZone, Walmart Supercenter, Dollar Tree, Whataburger, Chick-fil-A, Take 5 Oil Change, Ace Hardware, Harbor Freight Tools, and more. The average household income is $109,165 within a one-mile radius; $100,097 within a three-mile radius; and $91,480 within a five-mile radius. The population is 177,485 within a five-mile radius.