Retail Center on High-Traffic
For Sale
Contact for pricing
207 College Ave, Levelland, TX 79336
Two-tenant retail center on Levelland's major retail corridor.
Property Size4,200 SF
Price / SF$170.71
Days on Market194
Property Features for 207 College Ave
General Information
Standard status
Active
Size
4,200 SF
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Building Details
Tenancy
Multi
Listing Agency:
Coldwell Banker Commercial Capital Advisors
(806) 784-3292
Listed By:
Jesse Rincones · License #710224
Source:
Crexi
Added: Jan 30
Changed: Aug 11
Last Checked: Aug 11 at 5:45PM
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 Coldwell Banker Commercial Capital Advisors
Investment Insights
Based on property information with market context.
This retail property is located at the intersection of College Avenue and Cypress Street, offering visibility in one of Levelland’s commercial corridors. The property is situated three blocks south of Highway 114. The location is surrounded by national and regional retailers, including Sonic, HTeaO, Dickey’s BBQ, Starbucks, KFC, Slim Chickens, and Wendy’s. The two-tenant retail center is located along College Ave in Levelland, TX. The center features a national brand in Total Wireless and Cosmic Smoke, a regional operator with over 10 locations in the area. The property size is 4,200 square feet and is located on a hard corner with over 12,000 vehicles per day on College Ave. The end cap has a drive-thru.
Key Highlights
- High‑traffic location at the intersection of College Avenue and Cypress Street with exceptional visibility.
- Strong co‑tenancy with surrounding national and regional retailers (Sonic, Starbucks, etc.).
- 7% Cap Rate with staggered leases.
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
$56,890
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
7.93%
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%
$1,137,800
$1.1M
Cap Rate 7%
$812,714
$812.7K
Cap Rate 9%
$632,111
$632.1K
Market Conditions
NOI Build-Up for 4,200 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
$86.2K $20.52/SF
− Vacancy
−$4.9K −$1.17/SF
EGI
$81.3K $19.35/SF
− OpEx
−$24.4K −$5.81/SF
NOI
$56.9K $13.55/SF
Area
Hockley County, TX
Vacancy
5.70%
Lease Rate
$20.52 /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%
$1,137,800
Cap Rate 7%
$812,714
Cap Rate 9%
$632,111
Alternative Uses
Best Use
Retail
$812.7K
$711.1K – $948.2K
NOI $56,890 @ 7.0% cap · market cap 7.93%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$47.09M
$41.20M – $54.94M
NOI $3,296,175 @ 7.0% cap · market cap 459.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
596
Businesses Nearby
151k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 44%
Dining 42%
Groceries 13%
Hotels & Casinos 1%
United Supermarkets
Groceries
20,265 visits/mo
0.2 miles
McDonald's
Dining
18,787 visits/mo
0.3 miles
Murphy USA
Shops & Services
18,260 visits/mo
0.5 miles
Starbucks
Dining
8,789 visits/mo
0.4 miles
Taqueria Guadalajara
Dining
8,682 visits/mo
0.2 miles
Demographics for 79336, TX
15,953
Population
6,584
Households
2.4
Avg Household Size
36
Median Age
17%
College-Educated
79%
High-School Grad
482.8 sq mi
ZIP Area
33
Density / Sq Mi
$52,724
Median Household Income
$34,213
Median Earnings
$803
Median Rent
$124,900
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Two-tenant retail center on Levelland's major retail corridor.
Where is this retail space located?
The property is located at 207 College Ave Levelland, TX.
What is the asking price?
The asking price for this property is $717,000.
What are key features of this property?
This property features: High‑traffic location at the intersection of College Avenue and Cypress Street with exceptional visibility.; Strong co‑tenancy with surrounding national and regional retailers (Sonic, Starbucks, etc.).; 7% Cap Rate with staggered leases.
