Mid-Century Modern Office Building For Sale

Office for Sale
Catylist Listing ID: 30336233
Property Subtypes: Office Building
Building Size (RSF): 7,200 SF
Gross Land Area: 16,250 SF
Sale Price: $400,000
Unit Price: $55.56 PSF
Ceiling: 10 ft.
In Opportunity Zone? Yes
Property Use Type: Vacant/Owner-User
Class of Space: Class B
Usable Size (USF): 6,864 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 8/11/2019

Overview / Comments

The property is a mid-century modern office building that was built in 1956. It currently houses multiple independently practicing attorneys. There are 12 to 14 private offices, three or four conference rooms depending on use of the building, men’s and women’s restrooms, break area and large mechanical closet. The building has 10 foot ceilings through out. Three of the conference rooms have floor to ceiling library shelving and currently house entire law libraries. There are multiple reception areas, storage areas and copier spaces. The building could be configured to house one user, a couple of users or left as it currently is with independent offices users. The building has off street parking that can be configured to park 30 cars with four covered spots.
There are four HVAC units that heat and cool the building. One of the units was replaced in 2017. The other three units do not appear to be very old. The roof was replaced on 2018.

Additional Details

Nearest MSA: Lubbock
County: Lubbock
Taxing Authority: Lubbock CAD
Tax ID/APN: R128870
Property Located Between: The property is located on Ave M three blocks north of 19th Street.
Property Visibility: Excellent
Highway Access: The building has access to Interstate 27 from 19th St.
Site Description: The building sits on just over 16,000 square feet of land with off street parking that can accomodate up to 30 cars.
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 7,200 SF
Year Built: 1956
Roof Type: Flat
Construction/Siding: Block, Brick, Steel Frame
Exterior Description: The exterior of the brick is brick veneer.
Parking Ratio: 4 (per 1000 SF)
Parking Type: Surface
Parking Description: the parking area could be configured to accommodate 30 cars.
Total Parking Spaces: 30
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Interior Description: The interior of the building has been well maintained for it's age and the over all mid-centuries look of the building has been kept intact. The exterior offices have an abundance of natural light due to large windows.
Lot Frontage: 130
Lot Depth: 125
Water Service: Municipal
Sewer Type: Municipal
Legal Description: Lots 16-20, Block 193, Original Town of Lubbock, Lubbock County, Texas

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 14,617 85,349 185,680
Median Age: 27.92 29.39 32.14
Households: 5,582 30,190 70,691
The information presented herein is provided as is, without warranty of any kind. Neither Lubbock Association of REALTORS® nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.