Gas Station with Heated
For Sale
$159,900
305 N 9th St, Slaton, TX 79364
SINGLE_FAMILY - Slaton, TX
Property Size1,500 SF
Lot Size0.24 Acres
Price / SF$106.60
Days on Market49
Property Features for 305 N 9th St
General Information
Property type
Residential
Property subtype
Office
Subdivision
Out of Area
Standard status
Active
Size
1,500 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Description
OTS BLK 35 L 12 & E/2
Tax Annual Amount
2544
Legal Description
OTS BLK 35 L 12 & E/2
Building Details
Year built
1995
Listing Agency:
Aycock Realty Group
(806) 778-5956
Listed By:
Brian Aycock · License #0502484
(806) 778-5956
Added: Jun 24
Changed: Jul 22
Last Checked: Aug 11 at 8:06PM
MLS# 50096206
Copyright © 2026 Permian Basin Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This former fuel station includes a heated and cooled office and a recently remodeled bathroom. The property also features a large shop with two overhead doors and a large canopy, providing practical covered work and service space.
Underground storage tanks are in place, with capacity listed at 18,000 gallons for gas and a 10,000 gallon diesel tank. The property is described as ready for a new owner to register and set up a point-of-sale system if desired.
The offering is for the commercial property at 305 N 9th St in Slaton, Texas (Lubbock County). Lot size is listed at 0.241 acres with total property size of 1,500 square feet.
Underground storage tanks are in place, with capacity listed at 18,000 gallons for gas and a 10,000 gallon diesel tank. The property is described as ready for a new owner to register and set up a point-of-sale system if desired.
The offering is for the commercial property at 305 N 9th St in Slaton, Texas (Lubbock County). Lot size is listed at 0.241 acres with total property size of 1,500 square feet.
Key Highlights
- Commercial property built in 1995 in Slaton
- Heated and cooled office space
- Recently remodeled bathroom
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
$14,490
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
9.06%
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%
$289,800
$289.8K
Cap Rate 7%
$207,000
$207.0K
Cap Rate 9%
$161,000
$161.0K
Market Conditions
NOI Build-Up for 1,500 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
$22.5K $15.00/SF
− Vacancy
−$1.8K −$1.20/SF
EGI
$20.7K $13.80/SF
− OpEx
−$6.2K −$4.14/SF
NOI
$14.5K $9.66/SF
Area
Lubbock County, TX
Vacancy
8.00%
Lease Rate
$15.00 /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%
$289,800
Cap Rate 7%
$207,000
Cap Rate 9%
$161,000
Alternative Uses
Best Use
Specialty Retail
$242.1K
$211.9K – $282.5K
NOI $16,949 @ 7.0% cap · market cap 10.60%
Second Best
Industrial
$241.4K
$211.3K – $281.7K
NOI $16,900 @ 7.0% cap · market cap 10.57%
Theoretical Best
Office A
$378.2K
$330.9K – $441.2K
NOI $26,471 @ 7.0% cap · market cap 16.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
Location Intelligence
Trade Area within ½ mile
185
Businesses Nearby
585
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Happy State Bank
Shops & Services
585 visits/mo
0.2 miles
Demographics for 79364, TX
7,985
Population
2,949
Households
2.7
Avg Household Size
40
Median Age
16%
College-Educated
85%
High-School Grad
210.5 sq mi
ZIP Area
38
Density / Sq Mi
$55,221
Median Household Income
$39,774
Median Earnings
$1,018
Median Rent
$89,200
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Gas station - Former fuel station with heated and cooled office, remodeled bathroom, large shop, and underground storage tanks for gas and diesel.
Where is this gas station located?
The property is located at 305 N 9th St Slaton, TX.
What is the asking price?
The asking price for this property is $159,900.
What are key features of this property?
This property features: Commercial property built in 1995 in Slaton; Heated and cooled office space; Recently remodeled bathroom
