4701 S Loop 289, 4703, Lubbock, TX 79424
$2,300,000
Property Type:
Commercial Sale
Square Footage:
19,025
Lot Size (sq. ft.):
48,743
Status:
Closed
Current Price:
$2,300,000
List Date:
1/26/2023
Last Modified:
1/31/2025
Description
This well-maintained 19,025 sf building on Lubbock's South Loop is for sale below the appraised "as-is" value of $2,330,000. Renovated in 2018, this property would make an excellent owner-occupied office or investment property once backfilled at market rental rates. The property has excellent visibility and access from the loop, which sees over 60,000 vehicles per day. The property is zoned "C-2" and can accommodate a variety of office or retail uses. It is located outside of the FEMA flood zone. The owner currently occupies 15,000 sf of the property and will require a leaseback of 6 to 12 months after closing. The 4,000 sf unit is leased through July 2024. Financial information is available upon request. The 15,000 sf unit is also available for lease at $15.00/sf/yr + NNN.
Supplements: ********
More Information MLS# 202301170
Contract Information
Current Price: $2,300,000
Original List Price: 2300000
List Price: $2,300,000
Status: Closed
Listing Contract Date: 2023-01-26
Property Sub Type: Office
Listing Agreement: Exclusive Right To Sell
Owner Name: Lmax, LP
Occupant Type: Tenant
Location Tax and Legal
Street Number: 4701
Street Direction Prefix: S
Street Name: Loop 289
County: Lubbock
State: TX
Postal Code: 79424
Zone: 7
General Property Information
Above Grade Finished Area: 19025
Above Grade Finished Area Source: Appraiser
Building Area Total: 19025
Lot Size Acres: 1.119
Lot Size Square Feet: 48743
Lot Size Source: Appraiser
Basement YN: No
List Price/Acre: 2055406.61
List Price/SqFt: 120.89
Sold Price/Acre: 1787310.1
Sold Price/SqFt: 105.12
Remarks and Miscellaneous
Public Historical Remarks: Specific Use: No, # Wells: 0
Public Remarks: This well-maintained 19,025 sf building on Lubbock's South Loop is for sale below the appraised "as-is" value of $2,330,000. Renovated in 2018, this property would make an excellent owner-occupied office or investment property once backfilled at market rental rates. The property has excellent visibility and access from the loop, which sees over 60,000 vehicles per day. The property is zoned "C-2" and can accommodate a variety of office or retail uses. It is located outside of the FEMA flood zone. The owner currently occupies 15,000 sf of the property and will require a leaseback of 6 to 12 months after closing. The 4,000 sf unit is leased through July 2024. Financial information is available upon request. The 15,000 sf unit is also available for lease at $15.00/sf/yr + NNN.
Status Change Information
Major Change Timestamp: 2023-09-25T21:22:24Z
Major Change Type: Status Change
Status Change Timestamp: 2023-09-25
Purchase Contract Date: 2023-06-27
Close Date: 2023-09-25
Buyer Financing: Conventional
Buyer's Lender Closing Costs: No
Buyer's Lender Closing Costs Comments: Contact ListingAgent
Land Details
Minerals Available: No
Crops Included YN: No
Showing Information
Showing Instructions: Contact ListingAgent
Property Features
Business Type: Distribution; Industrial; Medical; Mixed; Professional/Office; Residential; Restaurant; Retail; Storage; Transportation; Other
Foundation Details: Slab
Listing Terms: Cash; Conventional
Showing Considerations: Occupied
Showing Requirements: Call Listing Office
Listing Office: RE/MAX Lubbock
Listing Agent: Scott Toman
Last Updated: January - 31 - 2025
Information deemed reliable but not guaranteed.