RV Park with Store
For Sale
$575,000
6420 E Hwy 84, Slaton, TX 79364
Commercial Sale, Slaton, TX
Property Size4,600 SF
Lot Size22.00 Acres
Price / SF$125
Days on Market326
Property Features for 6420 E Hwy 84
General Information
Property type
Commercial Sale
Property subtype
Other
Middle school
Slaton
High school
Slaton
Elementary school district
Slaton ISD
Middle school district
Slaton ISD
High school district
Slaton ISD
Subdivision
6
Standard status
Active
Size
4,600 SF
Lot size
22.00 Acres
Taxes and HOA fees
Tax Description
See Listing Agent
Legal Description
See Listing Agent
Utilities
Sewer type
Septic Tank
Water source
Well
Listing Agency:
Pat Garrett, REALTORS
(806) 795-0611
Listed By:
Jack Boyd · License #0627571
(806) 632-8681
Added: Oct 30, 2025
Changed: Sep 3
Last Checked: Sep 20 at 5:06PM
MLS# 202562456
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 22-acre property combines an existing 4,600-square-foot commercial building with 17 RV spaces positioned behind it. The building was formerly used as Wayne's Liquor Store, while each RV space is equipped with electricity, water, and sewer connections. The property is being offered in its current condition.
The site is located along Hwy 84, also identified as Slaton Hwy, with proximity to Slaton, Lubbock, and Buffalo Springs Lake stated in the property information. Water is supplied by a well, and wastewater service is provided through a septic tank. The RV component and existing building create a combined commercial and recreational property configuration.
The site is located along Hwy 84, also identified as Slaton Hwy, with proximity to Slaton, Lubbock, and Buffalo Springs Lake stated in the property information. Water is supplied by a well, and wastewater service is provided through a septic tank. The RV component and existing building create a combined commercial and recreational property configuration.
Key Highlights
- 22 acres along Hwy 84 / Slaton Hwy
- 4,600‑square‑foot commercial building
- 17 RV spots behind the store building
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
$44,436
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
7.73%
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%
$888,720
$888.7K
Cap Rate 7%
$634,800
$634.8K
Cap Rate 9%
$493,733
$493.7K
Market Conditions
NOI Build-Up for 4,600 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
$69.0K $15.00/SF
− Vacancy
−$5.5K −$1.20/SF
EGI
$63.5K $13.80/SF
− OpEx
−$19.0K −$4.14/SF
NOI
$44.4K $9.66/SF
Area
Lubbock County, TX
Vacancy
8.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$888,720
Cap Rate 7%
$634,800
Cap Rate 9%
$493,733
Alternative Uses
Best Use
Retail
$634.8K
$555.5K – $740.6K
NOI $44,436 @ 7.0% cap · market cap 7.73%
Second Best
Apartment 5plus
$532.9K
$466.3K – $621.8K
NOI $37,306 @ 7.0% cap · market cap 6.49%
Theoretical Best
Office A
$1.16M
$1.01M – $1.35M
NOI $81,177 @ 7.0% cap · market cap 14.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
20
Businesses Nearby
Explore this area
Business Placement
Demographics for 79364, TX
7,985
Population
2,949
Households
2.7
Avg Household Size
40
Median Age
16%
College-Educated
85%
High-School Grad
210.5 sq mi
ZIP Area
38
Density / Sq Mi
$55,221
Median Household Income
$39,774
Median Earnings
$1,018
Median Rent
$89,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mobile home & RV park - Highway-accessible property with utility-served RV spaces and an existing commercial building.
Where is this mobile home & rv park located?
The property is located at 6420 E Hwy 84 Slaton, TX.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 22 acres along Hwy 84 / Slaton Hwy; 4,600‑square‑foot commercial building; 17 RV spots behind the store building
