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    Overton Park Redevelopment Opportunity Title is generated by Realmo AI

    Marsha Sharp Fwy 2211, Lubbock, TX

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    Versatile property with nightclub setup, warehouse potential, and redevelopment options.

    Type:RETAIL
    Property size:
    8,181 SF
    Lot size:
    0.99 Acres
    Added:
    Nov 24, 2025
    Days on Market:
    178
    Last Refresh:
    May 20 at 8:53 pm

    Property Features for Marsha Sharp Fwy 2211

    General Information

    Standard status
    Active
    Size
    8,181 SF
    Lot size
    0.99 Acres
    Property subtype
    RETAIL

    We can help!

    Listing Contact
    Jeremy Steen

    Listing agent Jeremy Steen License #685530

    Listing office Keller Williams Commercial Lubbock

    Listing date Nov 24, 2025

    Source Moodyscre

    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 Keller Williams Commercial Lubbock

    HighLights

    • Prime redevelopment opportunity on US 62/82 in Overton Park.
    • Almost an acre of land with nearly 350 feet of highway frontage.
    • Currently operating as a nightclub with an iconic lighted dance floor, elevated DJ booth, and VIP lounge.
    • Suitable for warehouse/distribution use with two overhead doors and ample paved land.
    • Zoned Interstate Highway commercial, allowing for retail, multi‑family, or student housing development.
    • Includes three 10‑ton HVAC units and an owned POS system.

    Overview

    This property, situated in Overton Park on US 62/82 (Marsha Sharp Freeway), presents a redevelopment opportunity. The property sits on almost an acre with approximately 350 feet of frontage on US 62/82, making it suitable for various uses. Currently operating as a nightclub, the property previously functioned as a warehouse, offering limitless potential. Equipped for nightclub or bar use, it features a lighted dance floor, a large elevated DJ booth, three bars, six bar stations, and a separate VIP lounge downstairs with a separate entrance. Additional features include a lighted staircase, a green room/dressing room, raised platforms with poles, and ample storage. The property also includes three 10-ton HVAC units and an owned POS system. With almost an acre of paved land, two overhead doors underneath the building facade, and the building positioned to the far west, the property is also suited for warehouse or distribution purposes. Other potential commercial expansion or redevelopment uses include retail, multi-family housing, or student housing. Zoned Interstate Highway commercial, the 8181-square-foot property offers numerous potential uses.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Save More Auto ... Car Dealership Texas Motors Car Dealership Club Luxor Bar & Pub Ohm Nightclub and Bar Bar & Pub

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Mesquites Bar & Grill — 2419 Broadway St, Lubbock, TX 79401
    • Flippers Tavern — 1406 Avenue Q, Lubbock, TX 79401
    • Chimy's — 2417 Broadway St, Lubbock, TX 79401
    • BierHaus Lubbock — 2009 Broadway St, Lubbock, TX 79401
    • Raider Bar & Grill — 2419 Broadway St, Lubbock, TX 79401

    Location Insight

    • Map
    • Local Demand
    City
    Lubbock
    County
    Lubbock
    State
    Texas
    Longitude
    -101.8651718
    Latitude
    33.5922291

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    FAQs

    What type of property is this?
    Bar & Pub - Versatile property with nightclub setup, warehouse potential, and redevelopment options.
    Where is this bar & pub located?
    The property is located at Marsha Sharp Fwy 2211 Lubbock, TX.
    What are key features of this property?
    This property features: Prime redevelopment opportunity on US 62/82 in Overton Park.; Almost an acre of land with nearly 350 feet of highway frontage.; Currently operating as a nightclub with an **iconic lighted dance floor, elevated DJ booth, and VIP lounge**.
    (806) 392-0578 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Jeremy Steen
    Real Estate License ID: 685530
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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