Highway Frontage Storefront
For Sale
$575,000
6202 E Highway 84, Slaton, TX 79364
Commercial building with serviced RV spaces and direct exposure along Slaton Highway.
Property Size4,600 SF
Lot Size22.00 Acres
Price / SF$125
Days on Market306
Property Features for 6202 E Highway 84
General Information
Standard status
Active
Size
4,600 SF
Lot size
22.00 Acres
Additional Details
Utilities to Site
Yes
Amenities
electricity hook-up
water hook-up
sewer hook-up
Listing Agency:
Pat Garrett, REALTORS
(806) 632-8681
Listed By:
Jack Boyd · License #0627571
(806) 632-8681
Source:
Exprealty
Added: Oct 30, 2025
Changed: Aug 31
Last Checked: Aug 31 at 3:24AM
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 Pat Garrett, REALTORS
Investment Insights
Based on property information with market context.
This 4,600-square-foot storefront property includes a commercial building and 17 RV spaces positioned behind it. Each space has electricity, water, and sewer connections. The property is offered in its existing condition and includes the improvements currently in place.
The 22-acre tract sits on Highway 84/Slaton Highway at 6202 E Highway 84 in Slaton, Texas, with visibility along the highway. Its setting serves the Buffalo Springs Lake, Lubbock, and Slaton areas. The property was formerly operated as Wayne's Liquor Store.
The 22-acre tract sits on Highway 84/Slaton Highway at 6202 E Highway 84 in Slaton, Texas, with visibility along the highway. Its setting serves the Buffalo Springs Lake, Lubbock, and Slaton areas. The property was formerly operated as Wayne's Liquor Store.
Key Highlights
- 22‑acre property on Highway 84/Slaton Highway
- 4,600‑square‑foot storefront building
- 17 RV spaces behind the building
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
$44,436
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
7.73%
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%
$888,720
$888.7K
Cap Rate 7%
$634,800
$634.8K
Cap Rate 9%
$493,733
$493.7K
Market Conditions
NOI Build-Up for 4,600 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
$69.0K $15.00/SF
− Vacancy
−$5.5K −$1.20/SF
EGI
$63.5K $13.80/SF
− OpEx
−$19.0K −$4.14/SF
NOI
$44.4K $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%
$888,720
Cap Rate 7%
$634,800
Cap Rate 9%
$493,733
Alternative Uses
Best Use
Retail
$634.8K
$555.5K – $740.6K
NOI $44,436 @ 7.0% cap · market cap 7.73%
Second Best
Apartment 5plus
$532.9K
$466.3K – $621.8K
NOI $37,306 @ 7.0% cap · market cap 6.49%
Theoretical Best
Office A
$1.16M
$1.01M – $1.35M
NOI $81,177 @ 7.0% cap · market cap 14.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
22
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
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 Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Commercial building with serviced RV spaces and direct exposure along Slaton Highway.
Where is this storefront property located?
The property is located at 6202 E Highway 84 Slaton, TX.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 22‑acre property on Highway 84/Slaton Highway; 4,600‑square‑foot storefront building; 17 RV spaces behind the building
