Open-Plan Mixed-Use
1809 North Ash Avenue, Lubbock, TX 79403
For Sale
Contact for pricing
An open interior layout currently accommodates event-center operations.
Property Size2,898 SF
Price / SF$170.81
Days on Market45
Property Features for 1809 North Ash Avenue
General Information
Standard status
Size
Property subtype
Additional Details
Currently Operating
Building Details
Buildings
Listing Agency:
Milestone Realty Group
Listed By:
Austin Williams · License TX #725917
Source:
Crexi
Added: Sep 30
Changed: Nov 8
Last Checked: Nov 12 at 6:49AM
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 Milestone Realty Group
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Investment Insights
Based on property information with market context.
This 2,898-square-foot mixed-use property is operating as an event center and has an open floor plan. The existing layout offers flexibility for continued event use or other owner-user needs. The building is located at 1809 North Ash Avenue in Lubbock, Texas, and showings are arranged by appointment.
Key Highlights
- 2,898‑square‑foot building
- Currently operating as an event center
- Open floor plan
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,145
Cap Rate
7.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$762,900
$762.9K
Cap Rate 7%
$544,929
$544.9K
Cap Rate 9%
$423,833
$423.8K
Market Conditions
NOI Build-Up for 2,898 SF
Gross rent
$67.8K $23.40/SF
− Vacancy
−$6.8K −$2.34/SF
EGI
$61.0K $21.06/SF
− OpEx
−$22.9K −$7.90/SF
NOI
$38.1K $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 Rate 5%
$762,900
Cap Rate 7%
$544,929
Cap Rate 9%
$423,833
Alternative Uses
Best Use
Mixed Use
$544.9K
$476.8K – $635.8K
NOI $38,145 @ 7.0% cap · market cap 7.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$730.6K
$639.3K – $852.4K
NOI $51,142 @ 7.0% cap · market cap 10.33%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
64
Businesses Nearby
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Business Placement
Demographics for 79403, TX
15,604
Population
6,530
Households
2.4
Avg Household Size
38
Median Age
11%
College-Educated
76%
High-School Grad
131.3 sq mi
ZIP Area
119
Density / Sq Mi
$45,343
Median Household Income
$27,431
Median Earnings
$946
Median Rent
$83,100
Median Home Value
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Market
Properties on Market for Mixed-use properties in Lubbock County
Frequently Asked Questions
What type of property is this?
Mixed-use property - An open interior layout currently accommodates event-center operations.
Where is this mixed-use property located?
The property is located at 1809 North Ash Avenue Lubbock, TX.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 2,898‑square‑foot building; Currently operating as an event center; Open floor plan
