SWC Loop 289 & Memphis

Market Price

SWC Loop 289 & Memphis, Lubbock, TX 79415

For Sale

Land Other

Active

Last Updated: 04/25/2023

Details:

Lot Area: 15 acres

Offered by

Beau Tucker

CCIM

Commercial Capital Advisors

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Description:

LOCATION:
Property is located along the frontage road of N Loop 289 just east of Quaker Avenue.
DESCRIPTION:
15.81 acres of land located in the heart of the rapidly developing North Loop area of Lubbock, TX. The immediate surroundings of the land are teeming with commercial and residential activity. Adjacent to the property to the east is a newly constructed 220-unit independent living center and a 288-unit student housing complex. Additionally, this property is less than one mile from University Medical Center (Texas Tech’s teaching hospital), Texas Tech’s Campus (over 30,000 enrolled students), the Lubbock Heart Hospital, Wayland Baptist University (satellite campus), and a 744-bed student housing complex. This tract may be purchased as a whole or subdivided and is suitable for retail development, multifamily, student housing, office development, or restaurant use. Property is located within a Qualified Opportunity Zone (QOF). QOF investors can permanently exclude from taxation any capital gains that accrue after their investment in a QOF, if the investment is held for at least 10 years. Opportunity zones increase the basis of any investment held in a QOF for 10 years to 100 percent of its fair market value on the date it is sold or exchanged. Property is not in the floodplain.