Drive-Through Restaurant
New
For Sale
$600,000
5719 66th St, Lubbock, TX 79424
An established restaurant tenant has occupied the site since 2006.
Property Size3,000 SF
Price / SF$200
Days on Market6
Property Features for 5719 66th St
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Retail
Zoning
HC
Net Operating Income
$48,000
Site & Location
Drive-Thru
Yes
Road Access
Yes
Building Details
Building Size
3,000 SF
Year Built
1980
Buildings
1
Listing Agency:
Coldwell Banker Commercial Capital Advisors
Listed By:
Lexi Beam · License #818956
(806) 549-4403
Source:
Cbcworldwide
Added: Sep 28
Last Checked: Oct 2 at 5:06PM
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 Coldwell Banker Commercial Capital Advisors
Investment Insights
Based on property information with market context.
The 3,000-square-foot restaurant building includes a drive-through and dates to 1980. HC zoning is identified for the property.
At the corner of 66th Street and Frankford Avenue in South Lubbock, the site is described as part of a high-traffic corridor. A locally owned restaurant chain has operated there since 2006.
At the corner of 66th Street and Frankford Avenue in South Lubbock, the site is described as part of a high-traffic corridor. A locally owned restaurant chain has operated there since 2006.
Key Highlights
- 3,000 SF restaurant building with drive‑through
- HC zoning
- Built in 1980
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
$33,899
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
5.65%
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%
$677,980
$678.0K
Cap Rate 7%
$484,271
$484.3K
Cap Rate 9%
$376,656
$376.7K
Market Conditions
NOI Build-Up for 3,000 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
$48.6K $16.20/SF
− Vacancy
−$3.4K −$1.13/SF
EGI
$45.2K $15.07/SF
− OpEx
−$11.3K −$3.77/SF
NOI
$33.9K $11.30/SF
Area
Lubbock, TX
Vacancy
7.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
25.00%
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%
$677,980
Cap Rate 7%
$484,271
Cap Rate 9%
$376,656
Alternative Uses
Best Use
Specialty Retail
$484.3K
$423.7K – $565.0K
NOI $33,899 @ 7.0% cap · market cap 5.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$756.3K
$661.8K – $882.4K
NOI $52,942 @ 7.0% cap · market cap 8.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
430
Businesses Nearby
59k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 35%
Leisure 23%
Shops & Services 22%
Apparel 18%
SONIC Drive In
Dining
17,425 visits/mo
0.1 miles
Cinemark Southwest Lubbock Movies 16 and XD
Leisure
13,625 visits/mo
0.4 miles
Dollar General
Shops & Services
10,506 visits/mo
0.0 miles
Goodwill
Apparel
10,018 visits/mo
0.3 miles
SUBWAY
Dining
3,150 visits/mo
0.1 miles
Demographics for 79424, TX
53,479
Population
22,800
Households
2.3
Avg Household Size
38
Median Age
47%
College-Educated
95%
High-School Grad
41.6 sq mi
ZIP Area
1,286
Density / Sq Mi
$94,703
Median Household Income
$52,417
Median Earnings
$1,151
Median Rent
$279,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - An established restaurant tenant has occupied the site since 2006.
Where is this drive through restaurant located?
The property is located at 5719 66th St Lubbock, TX.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 3,000 SF restaurant building with drive‑through; HC zoning; Built in 1980
