Description
Great investment property in Hale Center, Texas! The property has almost 15,000 square feet of space that had approximately $300,000 of improvements in 2016 and then another $130,000 in the last year. It currently houses a boys foster care facility with 22 rooms, nice kitchen, dining room, recreation room, basement, several other rooms that are used for offices, break rooms, storage, etc. It spans the entire city block and also includes the old Hale Center Hospital. The current tenants have a triple net lease through July 2024 and would like to keep the lease in place. This property carries an 8% net cap rate! Put your money to work and don't miss this great opportunity!!
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0BEDS
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2.57ACRES
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0BATHS
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01/2 BATHS
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14,778SQFT
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$51$/SQFT
School Information
Description
Great investment property in Hale Center, Texas! The property has almost 15,000 square feet of space that had approximately $300,000 of improvements in 2016 and then another $130,000 in the last year. It currently houses a boys foster care facility with 22 rooms, nice kitchen, dining room, recreation room, basement, several other rooms that are used for offices, break rooms, storage, etc. It spans the entire city block and also includes the old Hale Center Hospital. The current tenants have a triple net lease through July 2024 and would like to keep the lease in place. This property carries an 8% net cap rate! Put your money to work and don't miss this great opportunity!!
© 2023 Lubbock Association of REALTORS® MLS. Listing information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated: 2023-06-06T23:59:24.907.