Fenced Mixed-Use Commercial
For Sale
$485,000
1501 19th Street, Lubbock, TX 79401
Kitchen infrastructure, refrigeration, and a fully enclosed lot accompany a building with several documented commercial uses.
Property Size1,248 SF
Price / SF$388.62
Days on Market298
Property Features for 1501 19th Street
General Information
Standard status
Active
Size
1,248 SF
Property subtype
Mixed Use
Site & Location
Road Access
Yes
Fenced Yard
Yes
Taxes and HOA fees
Annual Taxes
$1,022
Amenities
grease trap
walk-in freezer
kitchen with sinks
Central Air, Electric
3
Paved Driveway.
City Road.
Building Details
Year Built
1954
Listing Agency:
Brick & Loft Realty
(806) 999-5353
Listed By:
Collen Melton · License #0774198
(806) 999-5353
Source:
Xome
Added: Nov 7, 2025
Changed: Aug 30
Last Checked: Aug 31 at 2:23PM
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 Brick & Loft Realty
Investment Insights
Based on property information with market context.
This mixed-use commercial property includes a 1,248-square-foot building on a 0.??-acre? No acreage is provided. The building dates to 1954 and has central electric air conditioning. Interior improvements include a kitchen with sinks, a newer grease trap, and a walk-in freezer. The roof is 7 years old. Previous uses have included shaved ice service, beer and wine sales, and automobile dealership operations.
The property is located at 1501 19th Street in Lubbock, Texas. A paved driveway provides site access, and fencing encloses the entire lot. The combination of enclosed outdoor area and existing food-service-related equipment contributes to the property's mixed-use configuration.
The property is located at 1501 19th Street in Lubbock, Texas. A paved driveway provides site access, and fencing encloses the entire lot. The combination of enclosed outdoor area and existing food-service-related equipment contributes to the property's mixed-use configuration.
Key Highlights
- 1,248‑square‑foot mixed‑use commercial building
- Fully fenced lot with paved driveway access
- Kitchen with sinks, newer grease trap, and walk‑in freezer
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
$16,427
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
3.39%
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%
$328,540
$328.5K
Cap Rate 7%
$234,671
$234.7K
Cap Rate 9%
$182,522
$182.5K
Market Conditions
NOI Build-Up for 1,248 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
$29.2K $23.40/SF
− Vacancy
−$2.9K −$2.34/SF
EGI
$26.3K $21.06/SF
− OpEx
−$9.9K −$7.90/SF
NOI
$16.4K $13.16/SF
Area
Lubbock, TX
Vacancy
10.00%
Lease Rate
$23.40 /SF/Yr
Expense Ratio
37.50%
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%
$328,540
Cap Rate 7%
$234,671
Cap Rate 9%
$182,522
Alternative Uses
Best Use
Mixed Use
$234.7K
$205.3K – $273.8K
NOI $16,427 @ 7.0% cap · market cap 3.39%
Second Best
Industrial
$200.9K
$175.8K – $234.4K
NOI $14,061 @ 7.0% cap · market cap 2.90%
Theoretical Best
Office A
$314.6K
$275.3K – $367.1K
NOI $22,024 @ 7.0% cap · market cap 4.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
156
Businesses Nearby
12k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
SONIC Drive In
Dining
11,646 visits/mo
0.2 miles
Demographics for 79401, TX
8,775
Population
4,813
Households
1.8
Avg Household Size
26
Median Age
26%
College-Educated
85%
High-School Grad
2.5 sq mi
ZIP Area
3,510
Density / Sq Mi
$27,255
Median Household Income
$20,570
Median Earnings
$1,048
Median Rent
$101,500
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Kitchen infrastructure, refrigeration, and a fully enclosed lot accompany a building with several documented commercial uses.
Where is this mixed-use property located?
The property is located at 1501 19th Street Lubbock, TX.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: 1,248‑square‑foot mixed‑use commercial building; Fully fenced lot with paved driveway access; Kitchen with sinks, newer grease trap, and walk‑in freezer
