Retail Property with Ample
For Sale
Contact for pricing
117 University Ave, Lubbock, TX 79415
For sale retail property with ample parking and proximity to Texas Tech and Jones AT&T Stadium.
Property Size2,130 SF
Price / SF$223
Days on Market154
Property Features for 117 University Ave
General Information
Standard status
Active
Size
2,130 SF
Property subtype
RETAIL
Listing Agency:
Exit Realty of Lubbock
(806) 771-3900
Listed By:
Tracy Thomason
(806) 535-3827
Source:
Moodyscre
Added: Apr 8
Changed: Aug 8
Last Checked: Jul 21 at 3:06PM
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 Exit Realty of Lubbock
Investment Insights
Based on property information with market context.
This retail property is offered for sale and totals 2,130 square feet. The site is described as just under 1 acre and includes ample parking to support convenient customer access.
The property is located at 117 University Ave in Lubbock, Texas, with public remarks noting excellent proximity to Texas Tech and the Jones AT&T Stadium. Buyers can view the existing setup in person to assess the layout and retail fit for their intended concept.
The property is located at 117 University Ave in Lubbock, Texas, with public remarks noting excellent proximity to Texas Tech and the Jones AT&T Stadium. Buyers can view the existing setup in person to assess the layout and retail fit for their intended concept.
Key Highlights
- Retail property for sale in Lubbock
- Located just under 1 acre
- Ample parking on site
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
$20,576
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
4.33%
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%
$411,520
$411.5K
Cap Rate 7%
$293,943
$293.9K
Cap Rate 9%
$228,622
$228.6K
Market Conditions
NOI Build-Up for 2,130 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
$32.0K $15.00/SF
− Vacancy
−$2.6K −$1.20/SF
EGI
$29.4K $13.80/SF
− OpEx
−$8.8K −$4.14/SF
NOI
$20.6K $9.66/SF
Area
Lubbock, 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%
$411,520
Cap Rate 7%
$293,943
Cap Rate 9%
$228,622
Alternative Uses
Best Use
Retail
$293.9K
$257.2K – $342.9K
NOI $20,576 @ 7.0% cap · market cap 4.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$537.0K
$469.9K – $626.5K
NOI $37,589 @ 7.0% cap · market cap 7.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
445
Businesses Nearby
245k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 61%
Shops & Services 20%
Groceries 16%
Hotels & Casinos 3%
Chick-fil-A
Dining
50,980 visits/mo
0.3 miles
Amigos
Groceries
38,826 visits/mo
0.2 miles
McDonald's
Dining
31,146 visits/mo
0.1 miles
United Express Fuel
Shops & Services
19,514 visits/mo
0.1 miles
SONIC Drive In
Dining
19,363 visits/mo
0.0 miles
Demographics for 79415, TX
17,499
Population
7,225
Households
2.4
Avg Household Size
30
Median Age
26%
College-Educated
77%
High-School Grad
67.8 sq mi
ZIP Area
258
Density / Sq Mi
$37,101
Median Household Income
$25,506
Median Earnings
$956
Median Rent
$94,000
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - For sale retail property with ample parking and proximity to Texas Tech and Jones AT&T Stadium.
Where is this retail space located?
The property is located at 117 University Ave Lubbock, TX.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Retail property for sale in Lubbock; Located just under 1 acre; Ample parking on site
