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Big Lots Retail NNN Investment Big Box Lubbock Texas

Big Lots | Lubbock, TX
Make an Offer
Investment Offering

Tenant: Big Lots | Lubbock, TX
Premises: 30,000 SF
Renewal Options: 4 x 5 Years

Lease Expiration: 1/31/2029
Lease Type: NNN
Rental Increases: 10% at Options


Sands Investment Group is Pleased to Exclusively Offer For Sale the 30,000 SF Retail NNN Investment Property Located at 3303 98th Street in Lubbock, Texas.

SECURE INVESTMENT WITH VALUE-ADD OPPORTUNITY

  • 8 Years Remaining on the Lease Term With a Nearly 8 Year Operating History at This Location
  • Confidence in Location – Tenant Recently Agreed to Exercise Their Next Option to Extend Early Demonstrating Strong Confidence in This Location For the Long-Term Investment Outlook
  • Attractive Rental Increases of 10% at Each Option Period Provides Hedge Against Inflation
  • Triple Net (NNN) Lease With Minimal Landlord Responsibilities
  • Below Market Lease Rate of $8.75 Per SF Annually Provides Potential Value-Add Opportunity in the Future
  • Low Cost Per Square Foot Compared With Alternative Investment Opportunities- Under $130 Per SF

LOCATED IN AN INCOME TAX FREE STATE

  • Pro Business State With Income Tax Free Status Provides Potential Security Into the Future

INTERNET & PANDEMIC RESISTANT TENANT

  • Big Lots (NYSE: BIG) Operates Over 1,416 Locations in 47 States
  • S&P Credit Rating BB+
  • Tenant Has Continued to Operate & Thrive Throughout the Pandemic With Zero Rent Concessions or Deferrals
  • Recession and Internet Resistant Tenant – Big Lots Stores Provide “Daily Needs” For Consumers Providing Security For Investors

SITUATED ON A STRONG RETAIL CORRIDOR

  • Cross Shopping Synergy and Customer Draw From Adjacent Kohl’s
  • Densely Populated Area With Over 167,000 People Within a 5-Mile Radius
  • Affluent Trade Area With an Average Household Income of Over $103,000 Within a 2-Mile Radius
  • High Traffic Count on the Cross Streets of Indiana Avenue and 98th Street Sees Over 21,700 VPD
  • Nearby Tenants Include: Kohl’s, Dollar General, Pizza Hut, Walmart Neighborhood Market, Target, Wendy’s, CVS Pharmacy, AutoZone, Starbucks, Taco Bell, Chick-fil-A, Dunkin’, T.J. Maxx and More

In Cooperation With Sands Investment Group Austin, LLC – Lic. # 9004706

View Similar Investment Opportunities

Read additional thought leadership content from SIG, specializing in absolute triple net lease opportunities

Tenant Overview
Big Lots!, Inc. is an American retail company headquartered in Columbus, Ohio with over 1,416 stores in 47 states. The Big Lots chain traces its history back to 1967 when Consolidated Stores Corporation was formed in Ohio by Sol Shenk. In 1970 the company began operating as Consolidated International. Over the years the chain grew to include stores doing business as Big Lots, Odd Lots, Mac Frugal’s Bargains* Closeouts, and Pic ‘N’ Save. In 2001 the array of store names and company identity were converted to a single national brand: Big Lots. From the closeout store roots to the entrance into discount retailing, Big Lots core purpose of helping people save money on all kinds of products has stayed the same. But the needs of customers have expanded dramatically. Today, the company offers an extensive assortment of brand-name items and quality products, including food, furniture, seasonal items, electronics and accessories, home décor, toys, and gifts. The company is dedicated to friendly service, trustworthy value, and affordable solutions in every season and category – furniture, food, décor, and more.
Area Overview

Big Lots | Lubbock, TX

3303 98th Street - Lubbock, TX 79423

$3,890,000

Cap Rate: 6.75%
Status: Available

Big Lots | Lubbock, TX

Daniel Hoogesteger

310.853.1419
dan@SIGnnn.com

Andy Chana

310.853.1316
andy@SIGnnn.com

Danny Held

310.853.1358
danny@SIGnnn.com

Make an Offer
$5.1 BILLION IN SALES

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Our Intentions

We believe in giving back. There’s a big world outside of the real estate bubble and we know that with success comes responsibility.

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