Building Details

Tenancy Multi

Listing Agency: Coldwell Banker Commercial Capital Advisors Show Phone

Listed By: Jesse Rincones · License #710224 Show Phone

Source: Moodyscre

Added: Mar 1, 2025 Changed: Nov 4 Last Checked: Nov 4 at 2:27PM

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Investment Insights

Based on property information with market context.

The retail center contains 4,200 square feet configured for two tenants. Current occupants are Total Wireless and Cosmic Smoke, a regional operator with more than 10 locations in the area.

The property is on College Ave in Levelland, Texas, along the city’s major retail corridor.

Key Highlights

• 4,200‑square‑foot retail center
• Two‑tenant configuration
• Total Wireless occupies one storefront

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$56,890

Cap Rate

8.19%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,137,800 $1.1M

Cap Rate 7%

$812,714 $812.7K

Cap Rate 9%

$632,111 $632.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,200 SF

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 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 (±1% cap)

NOI $56,890 @ 7.0% cap · market cap 8.19%

Second Best

—

—

no second resolved use

Theoretical Best

Multifamily LT 5

$47.09M

$41.20M – $54.94M (±1% cap)

NOI $3,296,175 @ 7.0% cap · market cap 474.27%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Shopping centers

Suggested Use

Top Pick Real Estate Agency Skin Care Clinic HVAC Service Law Firm (Bike/Boat/Book/etc) Store Computer & Electronic Repair

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

596

Businesses Nearby

151k

Monthly Visits Nearby

Under-served

Demand for This Use

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

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

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Similar Off Market Nearby

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Frequently Asked Questions

What type of property is this?

Shopping center - Two occupied storefronts include Total Wireless and Cosmic Smoke, a regional operator with more than 10 area locations.

Where is this shopping center located?

The property is located at 209 College Ave Levelland, TX.

What is the asking price?

The asking price for this property is $695,000.

What are key features of this property?

This property features: 4,200‑square‑foot retail center; Two‑tenant configuration; Total Wireless occupies one storefront