Building Details

Year Built 1971

Listing Agency: Exit Realty of Lubbock

Listed By: Charles Camp · License #0505552 Show Phone

Source: Raftercrossrealty

Added: Sep 6 Changed: Oct 13 Last Checked: Oct 7 at 5:04PM

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Investment Insights

Based on property information with market context.

This automotive-oriented commercial property was built in 1971 and is identified for automotive service or retail use. The building is located at 3405 Interstate 27 in Lubbock, providing a clearly defined setting for an operator seeking an existing business location.

Key Highlights

• Automotive service or retail use supported
• Built in 1971
• Located at 3405 Interstate 27, Lubbock, TX 79404

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$41,968

Cap Rate

3.24%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$839,360 $839.4K

Cap Rate 7%

$599,543 $599.5K

Cap Rate 9%

$466,311 $466.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,725 SF

Gross rent

$64.8K $17.40/SF

− Vacancy

−$4.9K −$1.31/SF

EGI

$60.0K $16.10/SF

− OpEx

−$18.0K −$4.83/SF

NOI

$42.0K $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%

$839,360

Cap Rate 7%

$599,543

Cap Rate 9%

$466,311

Alternative Uses

Best Use

Industrial

$599.5K

$524.6K – $699.5K (±1% cap)

NOI $41,968 @ 7.0% cap · market cap 3.24%

Second Best

Retail

$514.1K

$449.8K – $599.7K (±1% cap)

NOI $35,984 @ 7.0% cap · market cap 2.78%

Theoretical Best

Office A

$939.1K

$821.7K – $1.10M (±1% cap)

NOI $65,736 @ 7.0% cap · market cap 5.08%

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

Property Analytics

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Current Use

Auto shops

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Hair Salon Spa & Massage Center Pharmacy

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

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

614

Businesses Nearby

53k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 64% Home Improvements & Furnishings 25% Apparel 8% Dining 3%

Harbor Freight Tools Home Improvements & Furnishings

13,053 visits/mo 0.2 miles

Stripes Shops & Services

11,859 visits/mo 0.1 miles

Phillips 66 Shops & Services

10,983 visits/mo 0.1 miles

Dollar General Shops & Services

5,865 visits/mo 0.2 miles

Goodwill Apparel

4,310 visits/mo 0.1 miles

Demographics for 79404, TX

9,956

Population

4,289

Households

2.3

Avg Household Size

38

Median Age

13%

College-Educated

73%

High-School Grad

28.5 sq mi

ZIP Area

349

Density / Sq Mi

$48,642

Median Household Income

$30,654

Median Earnings

$958

Median Rent

$86,300

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

• Martin's Auto Sales — 4412 Avenue Q, Lubbock, TX 79412
• Danny's Paint and Body — 4207 Avenue Q, Lubbock, TX 79412
• Crest Tires — 4303 Avenue Q, Lubbock, TX 79412
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Frequently Asked Questions

What type of property is this?

Auto shop - Existing commercial property suited to automotive service or retail operations.

Where is this auto shop located?

The property is located at 3405 Interstate 27 Lubbock, TX.

What is the asking price?

The asking price for this property is $1,295,000.

What are key features of this property?

This property features: Automotive service or retail use supported; Built in 1971; Located at 3405 Interstate 27, Lubbock, TX 79404