Vacant Commercial Property on
3017 34th Street Lubbock, TX 79410
3017 34th Street, Lubbock, TX, 79410
$349,000
For Sale
$349,000
Investment opportunity for cafe or restaurant on 34th Street.
Property Size1,195 SF
Price / SF$292.05
Days on Market807
Property Features for 3017 34th Street
General Information
- Standard status
- Active
- Size
- 1,195 SF
- Property subtype
- SCR, SCR-REST, MU
Building Details
- Year Built
- 1957
Listing Agency
The Powell Group
(806) 239-0804
Listed by
David Powell · License #257988
(806) 239-0804
Source
Realnex
Added: May 3, 2024 Checked: Jul 6 at 12:11 pm
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 The Powell Group
Investment Insights
Based on property information with market context.
Located on 34th Street, this 1,195-square-foot commercial property presents an investment opportunity. The property will become vacant on April 20, 2024, offering a chance for investors or small business owners, particularly those in the café or restaurant industry. The space is suitable for a cozy coffee shop or café, providing visibility and accessibility. This location offers the potential to capitalize on a promising area and generate rental income.
Key Highlights
- Investment opportunity on 34th Street.
- Vacant starting April 20, 2024.
- Ideal for café or restaurant industry.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $19.4k | $16.20 |
| − Vacancy | −$1.4k | −$1.13 |
| EGI | $18.0k | $15.07 |
| − OpEx | −$4.5k | −$3.77 |
| NOI | $13.5k | $11.30 |
1,195 SF · lease $16.20/SF/yr · vacancy 7.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$192.9K
$168.8K – $225.1K
NOI $13,503 @ 7.0% cap · market cap 3.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$301.3K
$263.6K – $351.5K
NOI $21,088 @ 7.0% cap · market cap 6.04%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
hill barbecue
Restaurant
Yellow House By ...
Cafe & Coffee Shop
Similar For Sale Nearby
Similar Off Market Nearby
- J&B Coffee — 2701 26th St, Lubbock, TX 79410
- Yellow House By Hill Barbecue — 3017 34th St, Lubbock, TX 79410
- Deo Valente Cafe — 3016 35th St, Lubbock, TX 79413
FAQs
What type of property is this?
Coffee shop - Investment opportunity for cafe or restaurant on 34th Street.
Where is this coffee shop located?
The property is located at 3017 34th Street Lubbock, TX.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Investment opportunity on 34th Street.; Vacant starting April 20, 2024.; Ideal for café or restaurant industry.
