Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    5002 34Th St Lubbock, TX 79410

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $15 SF/Yr

    Modernized retail suites available in high-visibility Lubbock location.

    We can help!

    Listing Contact
    Shannon Powell
    Shannon Powell
    Source: Naiglobal

    Listing Agency: NAI Wheelhouse Listing Agent: Shannon Powell

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Remodeled Retail Center Near Freeway

    This recently remodeled retail center is anchored by Planet Fitness and Ollie’s. The property features modernized suites with slab, demising walls, plumbing, electrical, and ADA restrooms. Located just off Marsha Sharp Freeway and 34th Street, the property benefits from a high-visibility location along one of Lubbock’s busiest corridors. The second-generation building has undergone extensive renovations and upgrades. The center is conveniently located near the intersection of 34th & Slide, with excellent access and visibility from Marsha Sharp Freeway.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Watermill Express Big Box & Wholesale Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    Lifetouch National School Studios, IDLE-A-WHILE Vintage & Collectibles, Zimmer Biomet

    Location Insight

    • Map
    • Local Demand
    City
    Lubbock
    County
    Lubbock
    State
    Texas
    Longitude
    -101.9184158
    Latitude
    33.5640466

    Nearby Similar for Lease

    • $1,100 /Mo
      1,100 SF

      High-Traffic Retail Space Available

      Vacant retail space with high traffic in central Lubbock.
      2902 50Th St, Lubbock, TX 79413
      View Details
    • $12 SF/Yr
      5,200 SF

      Modern Lubbock Office/Warehouse Facility

      Versatile office and warehouse space in South Lubbock.
      3204 118Th St, Lubbock, TX 79423
      View Details
    • $1,350 /Mo
      3,464 SF

      South Lubbock Office Building For Lease

      Professional office building in prime South Lubbock location.
      10309 Indiana Ave, Lubbock, TX 79423
      View Details
    • $2,000 /Mo
      2,701 SF

      Lubbock Warehouse with Tall Ceilings

      Two-story warehouse suitable for automotive, warehouse, or construction businesses.
      4905 Memphis Ave, Lubbock, TX 79413
      View Details
    • $1,600 /Mo
      3,694 SF

      Lubbock Retail/Office Space Available

      Central Lubbock retail or office space with high visibility.
      4901 Memphis Ave, Lubbock, TX 79413
      View Details
    • $3,869 /Mo
      2,381 SF

      Move-in Ready Southwest Lubbock Office

      Modern office space with upgrades and convenient access in Lubbock.
      6403 107Th St, Lubbock, TX 79424
      View Details
    • $2,600 /Mo
      8,330 SF

      New Class A Office Space

      Premium office spaces in high-traffic Lubbock location, built in 2025.
      206 Slide Rd, Lubbock, TX 79416
      View Details
    • $22 SF/Yr
      2,620 SF

      Modern Garden Office in Lubbock

      Modern farmhouse-inspired office space available for lease in December 2025.
      11702 Frankford Ave Unit, Lubbock, TX 79424
      View Details
    • $1,600 /Mo
      2,941 SF

      Downtown Lubbock Shell Space Available

      Shell space in Downtown Lubbock, ready for improvements to fit needs.
      1412 Texas Ave, Lubbock, TX 79401
      View Details
    • $2,150 /Mo
      2,720 SF

      Downtown Lubbock Open Concept Space

      2,720 SF flexible space in the heart of downtown.
      1416 Texas Ave, Lubbock, TX 79401
      View Details
    • $19 SF/Yr
      2,259 SF

      Lubbock Office Space For Lease

      Prime office space with modern amenities and cost-saving features.
      3402 110Th St, Lubbock, TX 79423
      View Details
    • $800 /Mo
      8,025 SF

      Medical/Wellness Suite in Medical District

      Premier medical/wellness suites in the heart of the Medical District.
      3411 20Th St, Lubbock, TX 79410
      View Details

    FAQs

    What type of property is this?
    Shopping center - Modernized retail suites available in high-visibility Lubbock location.
    Where is this shopping center located?
    The property is located at 5002 34Th St Lubbock, TX.
    What is the lease rate?
    The lease rate is $15 SF/Yr.
    What are key features of this property?
    This property features: - High-visibility location off Marsha Sharp Freeway and 34th Street.; - Anchored by Planet Fitness and Ollie’s.; - Recently remodeled with modernized suites.
    (281) 788-1758
    Request Owner's contact information
    5002 34Th St Lubbock, TX 79410
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    5002 34Th St
    Lubbock, TX 79410
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    5002 34Th St Lubbock, TX 79410
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Shannon Powell
    Shannon Powell
    Real Estate License ID: #767517
    (281) 788-1758 (806) 722-1200
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!