Development Land with
For Sale
$2,545,000
7421 & 7435 66th St., Lubbock, TX 79407
Over 25 acres zoned SF-2 with utilities to site, plus a 5,250 SF warehouse with living quarters.
Property Size1,110,344 SF
Lot Size25.49 Acres
Price / SF$484.76
Days on Market73
Property Features for 7421 & 7435 66th St.
General Information
Standard status
Active
Size
1,110,344 SF
Lot size
25.49 Acres
Property subtype
VacantLand
Zoning
SF-2
Site & Location
Road Access
Yes
Utilities to Site
Yes
Amenities
solar panels
Building Details
Building Size
1,110,344 SF
Listing Agency:
Westar Commercial Realty
Listed By:
Blake Truett · License #0569964
(806) 797-3231
Source:
Commercialcafe
Added: Jul 27
Changed: Sep 24
Last Checked: Oct 7 at 9:27AM
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 Westar Commercial Realty
Investment Insights
Based on property information with market context.
This for-sale tract offers more than 25 acres zoned SF-2, with utilities marked as “to site.” The property includes a 5,250-square-foot warehouse with living quarters, and the building is described as all-electric. The offering also includes 45 solar panels that convey with the purchase.
A portion of the land is located in a flood plain, and the property’s frontage and visibility are noted along 66th Street. Public remarks also indicate a 66th Street widening expected to start in 2027.
The property is described as being on well and septic. Overall, the site combines development acreage with an existing warehouse and residential-style living quarters under one ownership.
A portion of the land is located in a flood plain, and the property’s frontage and visibility are noted along 66th Street. Public remarks also indicate a 66th Street widening expected to start in 2027.
The property is described as being on well and septic. Overall, the site combines development acreage with an existing warehouse and residential-style living quarters under one ownership.
Key Highlights
- Over 25 acres development land in Frenship ISD, zoned SF‑2
- Includes a 5,250 SF warehouse with living quarters
- Utilities: to site; property served by well/septic and building is all electric
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$71,824
Cap Rate
2.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,436,480
$1.4M
Cap Rate 7%
$1,026,057
$1.0M
Cap Rate 9%
$798,044
$798.0K
Market Conditions
NOI Build-Up for 5,250 SF
Gross rent
$91.3K $17.40/SF
− Vacancy
−$6.9K −$1.31/SF
EGI
$84.5K $16.10/SF
− OpEx
−$12.7K −$2.41/SF
NOI
$71.8K $13.68/SF
Area
Lubbock, TX
Vacancy
7.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,436,480
Cap Rate 7%
$1,026,057
Cap Rate 9%
$798,044
Alternative Uses
Best Use
Warehouse
$1.03M
$897.8K – $1.20M
NOI $71,824 @ 7.0% cap · market cap 2.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.32M
$1.16M – $1.54M
NOI $92,648 @ 7.0% cap · market cap 3.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
129
Businesses Nearby
Explore this area
Business Placement
Demographics for 79407, TX
23,208
Population
11,817
Households
2
Avg Household Size
32
Median Age
41%
College-Educated
92%
High-School Grad
75.9 sq mi
ZIP Area
306
Density / Sq Mi
$64,778
Median Household Income
$38,212
Median Earnings
$1,131
Median Rent
$200,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Over 25 acres zoned SF-2 with utilities to site, plus a 5,250 SF warehouse with living quarters.
Where is this residential land & home lot located?
The property is located at 7421 & 7435 66th St. Lubbock, TX.
What is the asking price?
The asking price for this property is $2,545,000.
What are key features of this property?
This property features: Over 25 acres development land in Frenship ISD, zoned SF‑2; Includes a 5,250 SF warehouse with living quarters; Utilities: to site; property served by well/septic and building is all electric
