Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    505 Broadway Plainview, TX 79072

    View on Map
    For Sale
    $99,000

    COMMERCIAL - Plainview, TX

    Property size:
    13,500 SF
    Lot size:
    0.16 Acres
    Added:
    Nov 19, 2025
    Days on Market:
    132
    Last Refresh:
    Mar 31 at 9:06 pm

    Property Features for 505 Broadway

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    14498
    Size
    13,500 SF
    Lot size
    0.16 Acres

    Taxes and HOA fees

    TaxDescription
    Ot Plv Blk 32 Lot 9-10
    TaxAnnualAmount
    1846

    We can help!

    Listing Contact
    Veronica McClanahan

    Listing agent Veronica McClanahan License #0637236

    Listing office Billington Real Estate 3109 Olton Rd, Ste 5005, Plainview, TX

    Listing date Nov 19, 2025

    MLS# 202563369

    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.

    Overview

    Plainview Commercial Building For Sale

    This commercial building is located in downtown Plainview, near the intersection of Broadway and 5th Street, which becomes Highway 70. The location offers traffic and visibility. The building has been prepped and is ready for customization and renovation to fit specific business needs. The property size is 13500 square feet and the lot size is 0.16 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Plainview
    County
    Hale
    State
    Texas
    Longitude
    -101.703411
    Latitude
    34.185075

    Nearby Similar for Sale

    • $539,500
      12,000 SF

      Plainview Commercial Building with Showroom

      Versatile commercial building with showroom, office, and storage space.
      509 Broadway Street, Plainview, TX 79072
      View Details
    • $350,000
      1,980 SF

      Plainview Commercial Building with Drive-Up

      Versatile commercial building with drive-up window in Plainview, Texas.
      2110 W 5th Street, Plainview, TX 79072
      View Details
    • $545,000
      6,565 SF

      Plainview Apartment Building: 10 Units

      Ten-unit apartment building with high occupancy in Plainview, Texas.
      1205-1207 Raleigh St, Plainview, TX 79072
      View Details
    • $89,500
      9,340 SF

      Plainview Commercial Building For Sale

      Versatile commercial building in Plainview, TX, suitable for various uses.
      2813 W 8th St, Plainview, TX 79072
      View Details
    • $280,000
      2,870 SF

      Plainview Office Building For Sale

      Corner lot office building with ample parking in Plainview.
      3810 W 24th Street, Plainview, TX 79072
      View Details
    • $219,900
      3,504 SF

      Plainview, Texas Quadplex For Sale

      Two-story quadplex with four units, great cash-flow opportunity.
      100 Pecos Place, Plainview, TX 79072
      View Details
    • $59,000
      3,504 SF

      Plainview, TX Four-Unit Multifamily

      Four-unit multifamily property in Plainview, Texas, ideal for investors.
      105 Pecos Place, Plainview, TX 79072
      View Details
    • $109,995
      3,000 SF

      Plainview Theater For Sale

      Commercial property operating as a theater in Plainview, Texas.
      1403 W 5th Street unit: B, Plainview, TX 79072
      View Details
    • $152,500
      1,583 SF

      Medical Office Near Covenant Hospital

      Versatile medical office space near Plainview Healthcare Center.
      2620 Yonkers, Plainview, TX 79072
      View Details
    • $165,500
      17,100 SF

      Plainview Commercial Property with Barns

      Commercial property featuring two large barns and an efficiency.
      710 E 6th, Plainview, TX 79072
      View Details
    • $199,999

      Industrial Property on 4.94 Acres

      Industrial property for sale near Plainview, TX, with grain storage.
      743 W US Hwy 70, Plainview, TX
      View Details
    • $350,000
      14 SF

      Plainview Agricultural Property with Warehouse

      14.01 acres with grain storage and office/warehouse space.
      300 A Nix Road, Plainview, TX 79072
      View Details

    FAQs

    What type of property is this?
    Storefront property - Commercial building in downtown Plainview ready for customization.
    Where is this storefront property located?
    The property is located at 505 Broadway Plainview, TX.
    What is the asking price?
    The asking price for this property is $99,000.
    What are key features of this property?
    This property features: Prime downtown location at the intersection of Broadway and 5th Street.; High traffic volume and excellent visibility due to Highway 70 conversion.; Ready for customization and renovation to suit any business needs.
    (806) 729-6769
    We can help!
    Listing Contact
    Veronica McClanahan
    Real Estate License ID: 0637236
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!