12602 Indiana ave - Service Station FOR SALE


Lubbock, TX 79423
$2,819,000 USD
510-289-1166
12602 Indiana ave, Lubbock, TX for Sale
$2,819,000 USD
Service Station - FOR SALE
1/2
null | 6% Cap Rate

12602 Indiana ave
Lubbock, TX 79423


HIGHLIGHTS

  • Brand New Corporate 15-Year Absolute NNN Lease to Oil Changers with Scheduled 10% Rental Escalations in Primary Term & Options
  • No Landlord Maintenance Responsibilities
  • New 2025 Construction with Double Drive-Thru
  • Nation's Leading Independent Oil Change Business with 200+ Locations Across 17 States
  • Valvoline Inc. (NYSE: VVV) Announced in February 2025 to Acquire Oil Changers for $625 Million - Acquisition Expected in Fiscal Q3 2025
  • Located in Fast-Growing Lubbock - Home of Texas Tech University (41,000+ Students)

OVERVIEW

The subject property is prominently located with frontage on South Indiana Avenue (23,736 AADT) less than a quarter of a mile from the new Loop 88 highway in rapidly growing south Lubbock. Loop 88 is a 12.5-mile $155 million expansion project to convert the previous two-lane road to a six-lane freeway equipped with frontage roads, bridges, and ramps. With Segment 3, the segment closest to the site, as the first to be funded, the project will improve mobility and reduce congestion resulting in enhanced commercial transportation within the region. The site benefits from a total daytime population of 294,880 within 10 miles, a 0.91% annual population growth rate within a 3-mile radius, and average household income of $144,461 within a 3-mile radius. The site benefits from a prominent retail location within the South Indiana Avenue corridor, which is experiencing major commercial and residential growth. It is a major north-south arterial with direct access to Texas Tech University (41,000 students and 5,800 staff), which is 7 miles from the site. There are many new retailers in close proximity along South Indiana including the adjacent Lonestar Suds car wash, as well as Sonic, McDonald’s, Alliance Credit Union, Circle K, Pizza Hut, Qdoba, Braum’s and Valero. There are also several recently completed and under construction retail and office buildings in the immediate vicinity. The prominent Texas grocery chain, United Supermarkets (part of Albertsons Companies), has its corporate headquarters located 4 miles from the site, as well as one of its newer stores located just down the road. H-E-B, located 2 miles from the site, boasts 3 million annual visits (per Placer.ai), placing it in the top 8% of H-E-Bs in Texas. 98th & Indiana is a prominent shopping center approximately 1.5 miles from the site with just under 1 million annual visits. Kingsgate Center, located 3.5 miles from the site, is the 2nd most visited shopping center in the Lubbock MSA with 2.6 million annual visits. Lubbock is the county seat of Lubbock County and the 10th most populous city in Texas, with a population of 266,878, reflecting a 3.8% population increase since 2020. Lubbock serves as an expanding economic, educational, and healthcare hub of the South Plains region. As the region’s economic hub, the GDP for Lubbock MSA is $18.1 billion as of 2022. The city’s diverse economic landscape spans across numerous industries, including retail, food and beverage, and financial services. This property is listed in conjunction with Texas-licensed real estate broker Delta Commercial.

FOR SALE DETAILS

PRICE

$2,819,000 USD

PRICE/SF

$2,163 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Oil Changers

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Service Station

ADD'L SUBTYPES

Auto Repair, Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2025

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

CROSS STREETS

126th Street

LAND ACRES

0.44 AC

LAND SF

19,166 SF

ZONING

-

APN/PARCEL ID

R343891

ASK ABOUT THIS PROPERTY

Putnam DailyFisher James CapitalMore Info
510-289-1166

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Putnam DailyFisher James CapitalMore Info
510-289-1166

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.