PROPERTY OVERVIEW SALE PRICE: $975,000 LEASE RATE: LOT SIZE: $6.50 SF/YR + (NNN $1.50/SF YRLY) 1.95 Acres Investment or owner-user with lease income. Three suites leased. Proforma cap rate at 9%. This quality built retail center offers views of both Ransom Canyon and Buffalo Spring Lakes. Fully equipped 3,000 SF restaurant with drive-thru and gas-powered brick oven. Eight 1,200SF suites both completely finished-out and empty shell. Spacious parking. Don't miss out on this great opportunity! Located on FM 3523 and Ransom Road at the entrance to the Ransom Canyon Lake community. Approximately 5 miles east of Lubbock and less than 10 minutes from Buffalo Springs Lake. BUILDING SIZE: 12,600 SF PROPERTY FEATURES Grade level doors in back of building YEAR BUILT: Two outdoor patio areas with seating 2003
TENANT NAME UNIT NUMBER UNIT SIZE (SF) MARKET RENT ANNUAL RENT MONTHLY RENT % OF GLA PRICE PER SF/YR Farm to Fork 100-110 3,000 $31,800 $2,650 23.81 $10.60 VACANT 120 1,200 $9,600 $800 9.52 $8.00 VACANT 130 1,200 $9,600 $800 9.52 $8.00 Berkshire Hathaway Real Estate 140 1,200 $10,200 $850 9.52 $8.50 VACANT 150 1,200 $9,600 $800 9.52 $8.00 VACANT 160 1,200 $9,600 $800 9.52 $8.00 VACANT 170 1,200 $9,600 $800 9.52 $8.00 Fitness Club 180-190 2,400 $16,200 $1,350 19.05 $6.75 TOTALS/AVERAGES 12,600 $0 $106,200 $8,850 $8.43
Pro-forma $6.5-$10/SF Suite # SF Monthly Rate (6.5/SF) Annualized Income 100 & 110 3,000.00 $ 2,500.00 $ 30,000.00 120 1,200.00 $ 650.00 $ 7,800.00 130 1,200.00 $ 650.00 $ 7,800.00 140 1,200.00 $ 850.00 $ 10,200.00 150 1,200.00 $ 650.00 $ 7,800.00 160 1,200.00 $ 650.00 $ 7,800.00 170 1,200.00 $ 650.00 $ 7,800.00 180 & 190 2,400.00 $ 1,350.00 $ 16,200.00 NNN income $ 18,900.00 Total Income: $ 7,950.00 $ 114,300.00 Expenses Taxes Insurance Water Total Expenses $ (18,900.00) Vacancy Rate 5% $ (5,715.00) NOI $ 89,685.00 Cap Rate 9%
POPULATION 1 MILE 10 MILES 30 MILES TOTAL POPULATION 54 26,715 336,274 MEDIAN AGE 39.2 33.7 32.3 MEDIAN AGE (MALE) 38.2 31.5 31.5 MEDIAN AGE (FEMALE) 40.8 36.1 33.3 HOUSEHOLDS & INCOME 1 MILE 10 MILES 30 MILES TOTAL HOUSEHOLDS 20 9,255 126,336 # OF PERSONS PER HH 2.7 2.9 2.7 AVERAGE HH INCOME $76,608 $46,915 $58,829 AVERAGE HOUSE VALUE $88,465 $136,105 RACE 1 MILE 10 MILES 30 MILES % WHITE 94.4% 57.4% 79.7% % BLACK 0.0% 26.3% 6.9% % ASIAN 0.0% 0.2% 1.7% % HAWAIIAN 0.0% 0.2% 0.1% % INDIAN 0.0% 0.4% 0.7% % OTHER 1.9% 11.5% 8.4% ETHNICITY 1 MILE 10 MILES 30 MILES % HISPANIC 16.7% 38.8% 32.8% * Demographic data derived from 2010 US Census
Information About Brokerage Services Texas law requires all real estate license holders to give the following informaɵon about brokerage services to prospecɵve buyers, tenants, sellers and landlords. 11-2-2015 TYPES OF REAL ESTATE LICENSE HOLDERS:. A BROKER is responsible for all brokerage acɵviɵes, including acts performed by sales agents sponsored by the broker. A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker. A BROKER S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents): Put the interests of the client above all others, including the broker s own interests; Inform the client of any material informaɵon about the property or transacɵon received by the broker; Answer the client s quesɵons and present any offer to or counter-offer from the client; and Treat all parɵes to a real estate transacɵon honestly and fairly. A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION: AS AGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner's agent through an agreement with the owner, usually in a wriʃen lisɵng to sell or property management agreement. An owner's agent must perform the broker s minimum duɵes above and must inform the owner of any material informaɵon about the property or transacɵon known by the agent, including informaɵon disclosed to the agent or subagent by the buyer or buyer s agent. AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant's agent by agreeing to represent the buyer, usually through a wriʃen representaɵon agreement. A buyer's agent must perform the broker s minimum duɵes above and must inform the buyer of any material informaɵon about the property or transacɵon known by the agent, including informaɵon disclosed to the agent by the seller or seller s agent. AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the parɵes the broker must first obtain the wriʃen agreement of each party to the transacɵon. The wriʃen agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker's obligaɵons as an intermediary. A broker who acts as an intermediary: Must treat all parɵes to the transacɵon imparɵally and fairly; May, with the parɵes' wriʃen consent, appoint a different license holder associated with the broker to each party (owner and buyer) to communicate with, provide opinions and advice to, and carry out the instrucɵons of each party to the transacɵon. Must not, unless specifically authorized in wriɵng to do so by the party, disclose: ᴑ that the owner will accept a price less than the wriʃen asking price; ᴑ ᴑ that the buyer/tenant will pay a price greater than the price submiʃed in a wriʃen offer; and any confidenɵal informaɵon or any other informaɵon that a party specifically instructs the broker in wriɵng not to disclose, unless required to do so by law. AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transacɵon without an agreement to represent the buyer. A subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first. TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH: The broker s duɵes and responsibiliɵes to you, and your obligaɵons under the representaɵon agreement. Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated. LICENSE HOLDER CONTACT INFORMATION: This noɵce is being provided for informaɵon purposes. It does not create an obligaɵon for you to use the broker s services. Please acknowledge receipt of this noɵce below and retain a copy for your records. Keller Williams Realty 0494693 klrw238@kw.com 806-771-7710 Licensed Broker /Broker Firm Name or Primary Assumed Business Name License No. Email Phone Pamela Titzell 0465722 pamtitzell@kw.com 806-771-7710 Designated Broker of Firm License No. Email Phone Pamela Titzell 0465722 pamtitzell@kw.com 806-771-7710 Licensed Supervisor of Sales Agent/ Associate License No. Email Phone David Powell 0257988 806-239-0804 Sales Agent/Associate s Name License No. Email Phone - - - Buyer/Tenant/Seller/Landlord Initials Date Regulated by the Texas Real Estate Commission InformaƟon available at www.trec.texas.gov IABS 1-0 TAR 2501