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    5217 50th Street

    Lubbock, TX 79414
    • $690,000
    • STATUS: Active
    • ON SITE: 150 days
    • MLS #: 202002058
    UPDATED: 47 min ago
    $690,000
    • 0
      BEDS
    • 0.56
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 7,240
      SQFT
    • $95
      $/SQFT
    Neighborhood:
    306
    Type:
    Commercial
    County:
    Area:
    3

    School Ratings & Info

    Description

    This property is currently occupied by Town South Floral and Panache Salon. Town South will execute a three-year lease at closing. Panache is occupied by multiple stylist that pay a weekly booth rent. Many of the stylists are long term tenants with some in place over 20 years. Gross income of $94,818 with flower shop lease back and cap rate of 8.7% Long Term Tenants in Place Oversize Parking Lot with Over 60 Spaces Numerous Recent Updates Including HVAC, Electrical, & Parking Lot Seal Coat Value Add Opportunity as Vacant Stylist Booths Are Rented 50th Street Frontage

    Monthly Payment Calculator

    © 2020 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: 2020-08-04T06:58:50.247.
    www.staceyrogersrealestategroup.com/homes/103904997
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    5217 50th Street Lubbock, TX 79414

    • Price: $690,000
    • Status: Active
    • Updated: 47 min ago
    • MLS #: 202002058
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.56
    Acres
    7,240
    SQFT
    $95
    $/SQFT
    Neighborhood:
    306
    County:
    Lubbock
    Area:
    3
    Property Description
    This property is currently occupied by Town South Floral and Panache Salon. Town South will execute a three-year lease at closing. Panache is occupied by multiple stylist that pay a weekly booth rent. Many of the stylists are long term tenants with some in place over 20 years. Gross income of $94,818 with flower shop lease back and cap rate of 8.7% Long Term Tenants in Place Oversize Parking Lot with Over 60 Spaces Numerous Recent Updates Including HVAC, Electrical, & Parking Lot Seal Coat Value Add Opportunity as Vacant Stylist Booths Are Rented 50th Street Frontage
    Exterior Features

    Construction Stucco/Eifs Crops No Foundation Slab Lot Improvements Curbs/Gutters Parking Spaces 0 Road Frontage City Streets Curb/GutterPaved Wells 0

    Interior Features

    Ceiling Height 0.0 Cooling Central Electric Overhead Doors 0

    Property Features

    Commercial Type Retail Est Annual Taxes 0.00 Lot Size Source (Tax Data) Minerals No Miscellaneous All Weather ParkingPaved Parking Occupied Yes Proposed Financing CashConventional Security Deposit 0.00 Specific Use No Sq Ft Source Tax Data Utilities Available City SewerElectricityavailableTelephone Will Divide No

    Listing provided courtesy of David Haymes of Westmark Companies. Listing information © 2020 Lubbock Association of REALTORS® MLS.
    © 2020 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: 2020-08-04T06:58:50.247.
     
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    Stacey Rogers Real Estate Group at Keller Williams Realty
    10210 Quaker Avenue
    Lubbock TX, 79424