3721 50th Street

About this listing

Located in High Density Population Area in the Heart of Lubbock

Owner Will Subdivide Property for Multiple Uses

Suitable for Redevelopment for Multiple Office or Retail Uses

Located in the heart of Lubbock in a densely-populated area of the city on southeast corner of 50th Street and Memphis Avenue between Indiana Avenue and Quaker Avenue and on an outlot of Sutherland's Home Base home improvement store. 50th Street is a major east-west commercial thoroughfare across the City of Lubbock.

59,137 sq. ft. tract of land suitable for redevelopment or purchase with 10,355 sq. ft. building currently serving as a bank branch and suitable for multiple professional office and retail uses. The front building is configured with multiple private offices, open workspaces, vault, break room, rear office suite, and teller desk with drive through. There is a 1,075 sq. ft. storage building on the property as well.
The current owner will subdivide the tract of land on which the buildings sit for a partial sale of the north tract of land of approximately 34,059 sq. ft. with 10,355 sq. ft. building at a price of $1,242,600. In the event of partial sale, the current owner will retain ownership of the south tract of land and convert the storage building into teller stations and small lobby for continued banking operations.

If a buyer wishes to purchase the property and retain the current owner as a tenant for the south portion of the property for investment purposes, the bank is willing to enter into a long-term lease for their banking facility.