NNN Auto Service
For Sale
Contact for pricing
Pending
10405 Slide Rd, Lubbock, TX 79424
Brand-new NNN auto service property with a 15-year ABS lease and listed size of 6,780 SF.
Property Size6,780 SF
Days on Market129
Property Features for 10405 Slide Rd
General Information
Standard status
Pending
Size
6,780 SF
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Additional Details
Cap Rate
6.25%
Building Details
Year Built
2017
Units
1
Tenancy
Single
Listing Agency:
Marcus & Millichap - Denver
Listed By:
Drew Isaac · License #CO FA.100023779
Source:
Crexi
Added: Apr 30
Changed: Aug 20
Last Checked: Aug 19 at 10:49PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap - Denver
Investment Insights
Based on property information with market context.
This brand-new NNN auto service property is offered for sale with a 15-year ABS NNN lease in place. The listing also references a 6.25% cap rate and notes nationwide comparison performance.
The property is located at 10405 Slide Rd in Lubbock, Texas 79424.
The asset is listed at 6,780 SF. The offering is positioned as an ABS NNN lease investment with long-term contractual duration.
The property is located at 10405 Slide Rd in Lubbock, Texas 79424.
The asset is listed at 6,780 SF. The offering is positioned as an ABS NNN lease investment with long-term contractual duration.
Key Highlights
- 2017‑built auto service property with a listed size of 6,780 SF
- 15‑year ABS NNN lease in place
- 6.25% cap rate referenced in the listing remarks
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
$76,387
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
3.18%
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%
$1,527,740
$1.5M
Cap Rate 7%
$1,091,243
$1.1M
Cap Rate 9%
$848,744
$848.7K
Market Conditions
NOI Build-Up for 6,780 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
$118.0K $17.40/SF
− Vacancy
−$8.8K −$1.31/SF
EGI
$109.1K $16.10/SF
− OpEx
−$32.7K −$4.83/SF
NOI
$76.4K $11.27/SF
Area
Lubbock, TX
Vacancy
7.50%
Lease Rate
$17.40 /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%
$1,527,740
Cap Rate 7%
$1,091,243
Cap Rate 9%
$848,744
Alternative Uses
Best Use
Industrial
$1.09M
$954.8K – $1.27M
NOI $76,387 @ 7.0% cap · market cap 3.18%
Second Best
Retail
$935.6K
$818.7K – $1.09M
NOI $65,495 @ 7.0% cap · market cap 2.73%
Theoretical Best
Office A
$1.71M
$1.50M – $1.99M
NOI $119,648 @ 7.0% cap · market cap 4.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
374
Businesses Nearby
118k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 88%
Shops & Services 8%
Home Improvements & Furnishings 1%
Electronics 1%
SONIC Drive In
Dining
19,170 visits/mo
0.2 miles
Taco Villa
Dining
15,691 visits/mo
0.3 miles
Starbucks
Dining
13,045 visits/mo
0.5 miles
Summer Moon Coffee
Dining
9,149 visits/mo
0.4 miles
Wendy's
Dining
8,690 visits/mo
0.4 miles
Demographics for 79424, TX
53,479
Population
22,800
Households
2.3
Avg Household Size
38
Median Age
47%
College-Educated
95%
High-School Grad
41.6 sq mi
ZIP Area
1,286
Density / Sq Mi
$94,703
Median Household Income
$52,417
Median Earnings
$1,151
Median Rent
$279,600
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Grease Monkey — 10405 Slide Rd, Lubbock, TX 79424
- Dalton's Automotive Center — 9811 Slide Rd, Lubbock, TX 79424
Frequently Asked Questions
What type of property is this?
Auto shop - Brand-new NNN auto service property with a 15-year ABS lease and listed size of 6,780 SF.
Where is this auto shop located?
The property is located at 10405 Slide Rd Lubbock, TX.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: 2017‑built auto service property with a listed size of 6,780 SF; 15‑year ABS NNN lease in place; 6.25% cap rate referenced in the listing remarks
