Freestanding Restaurant on Nearly One
For Sale
$400,000
Pending
117 University Avenue, Lubbock, TX 79415
Commercial Sale, Lubbock, TX
Property Size2,130 SF
Lot Size0.97 Acres
Days on Market365
Property Features for 117 University Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Basement
Parking features
Parking Lot
Security features
Security System
Lot features
City Lot, Paved
Elementary school district
Lubbock ISD
Middle school district
Lubbock ISD
High school district
Lubbock ISD
Directions
GPS Will get you there
Subdivision
1
Standard status
Pending
APN
R25052
Size
2,130 SF
Lot size
0.97 Acres
Taxes and HOA fees
Tax Description
EDWARDS J L BLK 1 L 8 THRU 14
Legal Description
EDWARDS J L BLK 1 L 8 THRU 14
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1966
Floors in Building
2
Listing Agency:
Exit Realty of Lubbock
(806) 771-3900
Listed By:
Shelley Woodbridge · License #0696579
(806) 200-3205
Added: Oct 8, 2025
Changed: Sep 8
Last Checked: Oct 7 at 10:06PM
MLS# 202561578
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 conventional restaurant property includes a 2,130-square-foot building on a 0.97-acre parcel. Built in 1966, the property offers central heating and central air, along with a basement and a dedicated parking lot.
The site is located at 117 University Avenue in Lubbock, Texas 79415, near Texas Tech and Jones AT&T Stadium. Public water and public sewer serve the property.
The site is located at 117 University Avenue in Lubbock, Texas 79415, near Texas Tech and Jones AT&T Stadium. Public water and public sewer serve the property.
Key Highlights
- 2,130‑square‑foot restaurant building on 0.97 acres
- Built in 1966 with basement space
- Central heating and central air
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,068
Cap Rate
6.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$481,360
$481.4K
Cap Rate 7%
$343,829
$343.8K
Cap Rate 9%
$267,422
$267.4K
Market Conditions
NOI Build-Up for 2,130 SF
Gross rent
$34.5K $16.20/SF
− Vacancy
−$2.4K −$1.13/SF
EGI
$32.1K $15.07/SF
− OpEx
−$8.0K −$3.77/SF
NOI
$24.1K $11.30/SF
Area
Lubbock, TX
Vacancy
7.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$481,360
Cap Rate 7%
$343,829
Cap Rate 9%
$267,422
Alternative Uses
Best Use
Specialty Retail
$343.8K
$300.9K – $401.1K
NOI $24,068 @ 7.0% cap · market cap 6.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$537.0K
$469.9K – $626.5K
NOI $37,589 @ 7.0% cap · market cap 9.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
445
Businesses Nearby
245k
Monthly Visits Nearby
Under-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Established restaurant property with central HVAC, public utilities, and an on-site parking lot.
Where is this conventional restaurant located?
The property is located at 117 University Avenue Lubbock, TX.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 2,130‑square‑foot restaurant building on 0.97 acres; Built in 1966 with basement space; Central heating and central air
