220 BUDDY HOLLY AVE, Lubbock, TX 79401

Listing Agency: Fairway Commercial Advisors

Listed By: Smith McLelland · License TX #721545 Show Phone

Source: Crexi

Added: Oct 20 Changed: Nov 8 Last Checked: Nov 8 at 5:11PM

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Investment Insights

Based on property information with market context.

This 3,252-square-foot automotive shop has been renovated with new lifts and overhead garage doors. Interior work includes updated flooring and cabinetry, along with plumbing, paint, and improvements to the kitchen and bathroom. The property is offered with a sale-leaseback arrangement.

Key Highlights

• 3,252 SF automotive shop
• Sale‑leaseback arrangement
• New automotive lifts and overhead garage doors

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$36,639

Cap Rate

9.05%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$732,780 $732.8K

Cap Rate 7%

$523,414 $523.4K

Cap Rate 9%

$407,100 $407.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,252 SF

Gross rent

$56.6K $17.40/SF

− Vacancy

−$4.2K −$1.31/SF

EGI

$52.3K $16.10/SF

− OpEx

−$15.7K −$4.83/SF

NOI

$36.6K $11.27/SF

Area

Lubbock, TX

Vacancy

7.50%

Lease Rate

$17.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$732,780

Cap Rate 7%

$523,414

Cap Rate 9%

$407,100

Alternative Uses

Best Use

Industrial

$523.4K

$458.0K – $610.7K (±1% cap)

NOI $36,639 @ 7.0% cap · market cap 9.05%

Second Best

Retail

$448.8K

$392.7K – $523.6K (±1% cap)

NOI $31,414 @ 7.0% cap · market cap 7.76%

Theoretical Best

Office A

$819.8K

$717.4K – $956.5K (±1% cap)

NOI $57,389 @ 7.0% cap · market cap 14.17%

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

Auto shops

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Locksmith Kitchen & Bath Showroom Grocery & Convenience Store Florist Acupuncture

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

Location Intelligence

Trade Area within ½ mile

393

Businesses Nearby

222

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Groceries 100%

Sysco Groceries

222 visits/mo 0.1 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

Properties on Market for Auto shops in Lubbock

Jul

Aug

Sep

Oct

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

• McWhorter's Tire and Service — 1008 Texas Ave, Lubbock, TX 79401
• Take 5 Oil Change — 812 Avenue Q, Lubbock, TX 79401
• Sammy's Automotive — 802 Texas Ave, Lubbock, TX 79401
• Pro Wheel Repair — 801 Buddy Holly Ave, Lubbock, TX 79401
• Walmart Auto Care Centers — 1911 Marsha Sharp Fwy W, Lubbock, TX 79415

Frequently Asked Questions

What type of property is this?

Auto shop - The renovated facility includes upgraded work areas, a kitchen and a bathroom under a sale-leaseback arrangement.

Where is this auto shop located?

The property is located at 220 BUDDY HOLLY AVE Lubbock, TX.

What is the asking price?

The asking price for this property is $405,000.

What are key features of this property?

This property features: 3,252 SF automotive shop; Sale‑leaseback arrangement; New automotive lifts and overhead garage doors