407 Lamesa HwyStanton, TX 79782

For Sale
$275,000

Grocery store & office space, high cap rate.

Overview

Added:
Dec 11, 2024
Days on market:
95
This exceptional Stanton, Texas investment property, located at 407 Lamesa Hwy N, presents a compelling opportunity. The 2,232 square foot building, constructed in 1983, sits on a 0.141-acre lot and boasts a strong 10% capitalization rate. Currently configured as a multi-tenant retail and office space, with three individual units, two are already leased, resulting in a 75% occupancy rate. The gross lease structure simplifies management. Each unit features its own electric meter, HVAC system, and restrooms. A vacant exterior storage unit is available for tenant use. The property benefits from recent renovations and is zoned for other uses (see remarks). The asking price is $275,000, translating to $123.21 per square foot and a land value of approximately $1,950,354.61 per acre. The remaining lease term on the occupied units is three years. Annual property taxes are $760.50. Parking details are available upon request. Ceiling height is less than 20 feet. This property offers significant potential for income growth and value appreciation. Buyers are responsible for verifying taxes, insurance, and zoning information. Directions: From I-20BL W, turn right onto N Lamesa Rd

Highlights

  • 2,232 SF multi-tenant retail/office building on a 0.141-acre lot in Stanton, TX.
  • 10% capitalization rate, 75% occupancy (two of three units leased, three-year lease term remaining).
  • Gross lease structure, individual unit meters, HVAC, and restrooms. Exterior storage unit available.
  • Recent renovations, zoned for multiple uses. Asking price: $275,000 ($123.21/SF). Annual property taxes: $760.50.
  • Ceiling height: under 20 feet. Parking: See remarks.

Property Details for 407 Lamesa Hwy

Property type
Other retail properties, Individual retail properties
Square Feet
2,232 SF
Year Built
1983
Stories
1
Lot Size (sq. ft)
6,142 SF
Units
3

Location Insight

City
Stanton
County
Midland
State
Texas
Latitude
32.1374902
Longitude
-101.8046844
407 Lamesa Hwy, Stanton, Texas

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407 Lamesa Hwy
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