Storefront Property with Drive-Up
For Sale
$250,000
3303 Idalou Road, Lubbock, TX 79403
Commercial Sale, Lubbock, TX
Property Size1,800 SF
Lot Size1.40 Acres
Price / SF$138.89
Days on Market478
Property Features for 3303 Idalou Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
NC
Parking features
Carport, Driveway
Lot features
Corner Lot, Corners Marked, Paved, Pie Shaped Lot, Level
Elementary school district
Lubbock ISD
Middle school district
Lubbock ISD
High school district
Lubbock ISD
Directions
GPS
Subdivision
1
Standard status
Active
APN
R133442
Size
1,800 SF
Lot size
1.40 Acres
Taxes and HOA fees
Tax Description
Lockartt Blk 1
Tax Annual Amount
833
Legal Description
Lockartt Blk 1
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1956
Floors in Building
1
Flooring type
Concrete, Tile
Building materials
Block
Roof type
Metal
Listing Agency:
Exit Realty of Lubbock
(806) 771-3900
Listed By:
Melinda Whitfill · License #0721552
(806) 928-2611
Added: May 28, 2025
Changed: Sep 17
Last Checked: Sep 17 at 10:06AM
MLS# 202555371
Copyright © 2026 Lubbock Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This NC-zoned storefront property provides 1,800 square feet of commercial space on a 1.4-acre site. The building was constructed in 1956 with block construction, a metal roof, and a combination of tile and concrete flooring. Drive-up windows support customer-facing operations, while the interior offers room for a customized layout.
The property includes driveway and carport parking. Public water and public sewer are available, providing established utility connections for the site.
The property includes driveway and carport parking. Public water and public sewer are available, providing established utility connections for the site.
Key Highlights
- 1,800‑square‑foot commercial building on 1.4 acres
- NC zoning supports the property’s commercial classification
- Drive‑up windows for customer‑facing operations
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$20,339
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.14%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$406,780
$406.8K
Cap Rate 7%
$290,557
$290.6K
Cap Rate 9%
$225,989
$226.0K
Market Conditions
NOI Build-Up for 1,800 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$29.2K $16.20/SF
− Vacancy
−$2.0K −$1.13/SF
EGI
$27.1K $15.07/SF
− OpEx
−$6.8K −$3.77/SF
NOI
$20.3K $11.30/SF
Area
Lubbock, TX
Vacancy
7.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$406,780
Cap Rate 7%
$290,557
Cap Rate 9%
$225,989
Alternative Uses
Best Use
Specialty Retail
$290.6K
$254.2K – $339.0K
NOI $20,339 @ 7.0% cap · market cap 8.14%
Second Best
Retail
$248.4K
$217.4K – $289.8K
NOI $17,388 @ 7.0% cap · market cap 6.96%
Theoretical Best
Office A
$453.8K
$397.1K – $529.4K
NOI $31,765 @ 7.0% cap · market cap 12.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
103
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 79403, TX
15,604
Population
6,530
Households
2.4
Avg Household Size
38
Median Age
11%
College-Educated
76%
High-School Grad
131.3 sq mi
ZIP Area
119
Density / Sq Mi
$45,343
Median Household Income
$27,431
Median Earnings
$946
Median Rent
$83,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - NC-zoned commercial building with flexible interior space, on-site parking, and public water and sewer service.
Where is this storefront property located?
The property is located at 3303 Idalou Road Lubbock, TX.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 1,800‑square‑foot commercial building on 1.4 acres; NC zoning supports the property’s commercial classification; Drive‑up windows for customer‑facing operations
