7905 Milwaukee Ave - Medical FOR SALE


Lubbock, TX 79424
$7,250,000 USD
214-838-6763
7905 Milwaukee Ave, Lubbock, TX for Sale
$7,250,000 USD
Medical - FOR SALE
1/14
null | 6.96% Cap Rate

7905 Milwaukee Ave
Lubbock, TX 79424


HIGHLIGHTS

  • The Tenant is Covenant Health System (Corporate Entity.)
  • Covenant Health System is the largest healthcare institution in West Texas and Eastern New Mexico.
  • Covenant Health is a part of the larger Providence St. Joseph Health System network, which has a AA- credit rating.
  • In the annual Best Hospital Rankings, U.S. News and World Report ranked Covenant Health as the “Best Hospital” in Northwest Texas.
  • Covenant Health System has over 5,000 employees and 600 top-level providers in their network.
  • Covenant Health System has over 62,000 annual adult emergency room visits and 25,500 annual pediatric emergency room visits.

OVERVIEW

Investment Grade Healthcare Property This West Texas opportunity is a Freestanding Emergency Center (FSEC) tenanted by the largest healthcare institution in West Texas and eastern New Mexico. This property is located in the high-income demographic area of Lubbock, TX, which serves as the largest medical hub in West Texas. This premier emergency center sits right in the path of strong growth and development that is rapidly expanding into this Lubbock region. While labeled as a Freestanding Emergency Center (FSEC,) with Covenant Health System as the Tenant, this facility is classified, treated, and billed as a Hospital Outpatient Department (HOPD,) as if it was an was an on-campus facility. This enables the highest level of reimbursements for this type of asset class.

FOR SALE DETAILS

PRICE

$7,250,000 USD

PRICE/SF

$1,115 USD /SF

CAP RATE

6.96%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

West Texas Emergency Center

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2014

SPRINKLERS

-

PARKING SPACES

37

LAND DETAILS

LAND ACRES

1.16 AC

LAND SF

50,530 SF

ZONING

-

APN/PARCEL ID

R323262

ASK ABOUT THIS PROPERTY

Beau WilliamsEgenbacher Healthcare Properties, LLCMore Info
214-838-6763

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Beau WilliamsEgenbacher Healthcare Properties, LLCMore Info
214-838-6763

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