NNN Property with Long-Term
New
For Sale
$924,000
7902 Slide Road, Lubbock, TX 79424
Single-tenant commercial asset with an established regional operator and scheduled lease increases.
Property Size4,311 SF
Days on Market2
Property Features for 7902 Slide Road
General Information
Standard status
Active
Size
4,311 SF
Property subtype
Retail
Zoning
F1 - Real Commercial
Building Details
Building Size
4,311 SF
Year Built
1983
Listing Agency:
SRS Real Estate Partners | Salt Lake City
Listed By:
Gary Chou
(714) 928-8016
Source:
Srsre
Added: Sep 19
Last Checked: Sep 20 at 5:05AM
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 SRS Real Estate Partners | Salt Lake City
Investment Insights
Based on property information with market context.
This NNN property at 7902 Slide Road in Lubbock, Texas, was built in 1983 and is zoned F1 - Real Commercial. The asset is occupied by Empire Pawnshop Inc., doing business as Pawn Texas, a regional operator with five locations across California and Texas.
The tenant executed a new 10-year lease in April 2026, along with one additional 5-year renewal option. The lease provides for 4% rental increases every 2 years during the base term and 2% annual increases throughout the option period. Tenant improvements exceeding $100,000 are scheduled for 2026, reflecting a substantial planned investment in the premises.
The tenant executed a new 10-year lease in April 2026, along with one additional 5-year renewal option. The lease provides for 4% rental increases every 2 years during the base term and 2% annual increases throughout the option period. Tenant improvements exceeding $100,000 are scheduled for 2026, reflecting a substantial planned investment in the premises.
Key Highlights
- New 10‑year lease executed in April 2026
- One additional 5‑year renewal option
- 4% rental increases every 2 years during the base term
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
$41,644
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
4.51%
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%
$832,880
$832.9K
Cap Rate 7%
$594,914
$594.9K
Cap Rate 9%
$462,711
$462.7K
Market Conditions
NOI Build-Up for 4,311 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
$64.7K $15.00/SF
− Vacancy
−$5.2K −$1.20/SF
EGI
$59.5K $13.80/SF
− OpEx
−$17.8K −$4.14/SF
NOI
$41.6K $9.66/SF
Area
Lubbock, TX
Vacancy
8.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$832,880
Cap Rate 7%
$594,914
Cap Rate 9%
$462,711
Alternative Uses
Best Use
Retail
$594.9K
$520.6K – $694.1K
NOI $41,644 @ 7.0% cap · market cap 4.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.09M
$951.0K – $1.27M
NOI $76,077 @ 7.0% cap · market cap 8.23%
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
740
Businesses Nearby
148k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 43%
Shops & Services 29%
Home Improvements & Furnishings 21%
Groceries 5%
Rosa's Cafe
Dining
27,562 visits/mo
0.4 miles
McDonald's
Dining
20,640 visits/mo
0.2 miles
Murphy USA
Shops & Services
20,227 visits/mo
0.3 miles
Harbor Freight Tools
Home Improvements & Furnishings
17,443 visits/mo
0.3 miles
Lowe's
Home Improvements & Furnishings
13,280 visits/mo
0.4 miles
Demographics for 79424, TX
53,479
Population
22,800
Households
2.3
Avg Household Size
38
Median Age
47%
College-Educated
95%
High-School Grad
41.6 sq mi
ZIP Area
1,286
Density / Sq Mi
$94,703
Median Household Income
$52,417
Median Earnings
$1,151
Median Rent
$279,600
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
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Frequently Asked Questions
What type of property is this?
NNN property - Single-tenant commercial asset with an established regional operator and scheduled lease increases.
Where is this nnn property located?
The property is located at 7902 Slide Road Lubbock, TX.
What is the asking price?
The asking price for this property is $924,000.
What are key features of this property?
This property features: New 10‑year lease executed in April 2026; One additional 5‑year renewal option; 4% rental increases every 2 years during the base term
