1101 N Memphis Ave

Property Description

15.81 acres of land located in the heart of the rapidly developing North Loop & Quaker Avenue area of Lubbock, TX within a qualified opportunity zone. The immediate surroundings of the land are abundant with commercial and residential activity. Adjacent to the property to the east is a 220-unit independent living center and a 288-unit student housing complex. Additionally, this property is less than two miles from Covenant Health Systems hospital, University Medical Center, Texas Tech University's Campus with over 40,000 enrolled students, the Lubbock Heart Hospital - NorthStar Medical offices, Wayland Baptist University satellite campus, and a 744-bed student housing complex. Property is located within a Qualified Opportunity Zone (QOF). QOF investors have substantial tax benefits for a property like this. Property is not in the floodplain. Property is zoned HC (Heavy Commercial) formerly C4.