- Each tenant Viva Nails Salon & Costa Vida executed 10-year leases with options to extend, demonstrating their long-term commitment to the site
- Costa Vida (corporate guarantee) and Viva Nails Salon (personal guarantee)
- 10% rental increases throughout each initial term as well as rental increases beginning of each option, growing NOI and hedging against inflation
- Attractive assumable financing – 4.25% fixed for 20 years (see page 10 for more details)
Investment Offering
Lubbock, TX - Lubbock Shops
4410 114th Street | Lubbock, TX 79424
$3,357,000
Price5.75%
Cap Rate$193,021
NOI5,635
± SF Offering GLADescription
Location
- The subject property is located near the signalized, hard corner intersection of 114th Street and Quaker Avenue
- Work has begun on what will eventually become an outer loop around Lubbock, Texas, starting with transforming a two-lane rural road into a six-lane freeway called Lubbock Loop 88 (see pg. 13 for more details)
- Equipped with a drive-thru for Costa Vida, increasing sales and productivity for this tenant
- The asset benefits from significant street frontage and multiple points of access, providing ease and convenience for customers
Documents & Links
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 Offering Memorandum |  |  |