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    Restaurant Building with Drive-Through Title is generated by Realmo AI

    6313 19th Street, Lubbock, TX 79407

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    Claim this Listing
    Pending
    $250,000

    COMMERCIAL - Lubbock, TX

    Property size:
    1,850 SF
    Lot size:
    0.21 Acres
    Added:
    Mar 10, 2025
    Days on Market:
    454
    Last Refresh:
    Jun 6 at 7:06 pm

    Property Features for 6313 19th Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    Parking Lot
    Standard status
    Pending
    APN
    R38021
    Size
    1,850 SF
    Lot size
    0.21 Acres

    Taxes and HOA fees

    Tax Description
    West End Pl Anx Blk 2 W55'of 4
    Tax Annual Amount
    2363

    Utilities

    Heating system
    Central
    Cooling system
    Electric, Ceiling Fan(s), Central Air
    Water source
    Public

    Building Details

    Year built
    1954

    We can help!

    Listing Contact
    Jim Archer

    Listing agent Jim Archer License #0693553

    Listing office Steadfast Realty, LLC 2809 74th St., Unit B, Lubbock, TX

    Listing date Mar 10, 2025

    MLS# 202551493

    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.

    HighLights

    • High‑traffic location with 20,000+ cars passing daily.
    • Turn‑key restaurant business opportunity with double drive‑through and dining room.
    • Established business location with existing reputation ('Lillie's Place').
    • Equipped with necessary restaurant equipment for immediate operation.
    • Recent roof and AC replacement (2017) and water heater replacement (2020).
    • Located in a fast‑growing area of Lubbock County.

    Overview

    This commercial property in Lubbock, Texas, presents an opportunity for restauranteurs or entrepreneurs. The building, formerly Lillie's Place, is equipped for immediate use and features a double drive-through and a dining room. The property is located in a rapidly growing area of Lubbock County, with high daily traffic of over 20,000 vehicles. The building has a total area of 1850 square feet and is situated on a 0.21-acre lot. The roof and AC were replaced in 2017, and the water heater was replaced in 2020.

    Local Financial Insights For Specialty Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $30.0k $16.20
    − Vacancy −$2.1k −$1.13
    EGI $27.9k $15.07
    − OpEx −$7.0k −$3.77
    NOI $20.9k $11.30
    1,850 SF · lease $16.20/SF/yr · vacancy 7.00% · expense 25.00%

    Alternative Uses

    Best Use
    Specialty Retail
    $298.6K
    $261.3K – $348.4K (±1% cap)
    NOI $20,904 @ 7.0% cap · market cap 8.36%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $466.4K
    $408.1K – $544.1K (±1% cap)
    NOI $32,647 @ 7.0% cap · market cap 13.06%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Lillie's Place Restaurant

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Lubbock
    County
    Lubbock
    State
    Texas
    Longitude
    -101.953768
    Latitude
    33.577484

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    FAQs

    What type of property is this?
    Drive through restaurant - Turn-key restaurant opportunity in a high-traffic Lubbock location.
    Where is this drive through restaurant located?
    The property is located at 6313 19th Street 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: High‑traffic location with 20,000+ cars passing daily.; Turn‑key restaurant business opportunity with **double drive‑through and dining room.**; Established business location with existing reputation ('Lillie's Place').
    (806) 786-4407
    We can help!
    Listing Contact
    Jim Archer
    Real Estate License ID: 0693553
    Request Owner's contact information
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    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
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