RV Park With Store
New
For Sale
$575,000
6202 E Hwy 84, Slaton, TX 79364
Highway-oriented property combines RV accommodations with an existing commercial building.
Property Size4,600 SF
Lot Size22.00 Acres
Price / SF$125
Days on Market3
Property Features for 6202 E Hwy 84
General Information
Standard status
Active
Size
4,600 SF
Total Parking Spaces
17
Lot size
22.00 Acres
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Amenities
RV spaces with electricity, water, and sewer hook-up
Building Details
Buildings
1
Listing Agency:
Pat Garrett, REALTORS
(806) 632-8681
Listed By:
Jack Boyd · License #0627571
Source:
Raftercrossrealty
Added: Aug 4
Changed: Aug 5
Last Checked: Aug 6 at 8:56AM
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 Pat Garrett, REALTORS
Investment Insights
Based on property information with market context.
This 22-acre property includes a 4,600-square-foot commercial building and 17 RV spaces positioned behind it. Each RV space is equipped with electricity, water, and sewer connections. The site is being offered in its existing condition and includes the former Wayne’s Liquor Store building.
Located along Hwy 84, also identified as Slaton Hwy, the property serves the corridor connecting Buffalo Springs Lake, Lubbock, and Slaton. Its combination of an established building, RV accommodations, and utility connections supports multiple commercial components within one tract. The property is offered as-is.
Located along Hwy 84, also identified as Slaton Hwy, the property serves the corridor connecting Buffalo Springs Lake, Lubbock, and Slaton. Its combination of an established building, RV accommodations, and utility connections supports multiple commercial components within one tract. The property is offered as-is.
Key Highlights
- 22‑acre property along Hwy 84, also identified as Slaton Hwy
- 4,600‑square‑foot commercial building included
- 17 RV spaces located behind the building
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
$51,978
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
9.04%
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%
$1,039,560
$1.0M
Cap Rate 7%
$742,543
$742.5K
Cap Rate 9%
$577,533
$577.5K
Market Conditions
NOI Build-Up for 4,600 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
$74.5K $16.20/SF
− Vacancy
−$5.2K −$1.13/SF
EGI
$69.3K $15.07/SF
− OpEx
−$17.3K −$3.77/SF
NOI
$52.0K $11.30/SF
Area
Lubbock County, 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 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%
$1,039,560
Cap Rate 7%
$742,543
Cap Rate 9%
$577,533
Alternative Uses
Best Use
Specialty Retail
$742.5K
$649.7K – $866.3K
NOI $51,978 @ 7.0% cap · market cap 9.04%
Second Best
Retail
$634.8K
$555.5K – $740.6K
NOI $44,436 @ 7.0% cap · market cap 7.73%
Theoretical Best
Office A
$1.16M
$1.01M – $1.35M
NOI $81,177 @ 7.0% cap · market cap 14.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
22
Businesses Nearby
Explore this area
Business Placement
Demographics for 79364, TX
7,985
Population
2,949
Households
2.7
Avg Household Size
40
Median Age
16%
College-Educated
85%
High-School Grad
210.5 sq mi
ZIP Area
38
Density / Sq Mi
$55,221
Median Household Income
$39,774
Median Earnings
$1,018
Median Rent
$89,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mobile home & RV park - Highway-oriented property combines RV accommodations with an existing commercial building.
Where is this mobile home & rv park located?
The property is located at 6202 E Hwy 84 Slaton, TX.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 22‑acre property along Hwy 84, also identified as Slaton Hwy; 4,600‑square‑foot commercial building included; 17 RV spaces located behind the building
