7603 Alcove Avenue, Lubbock, TX 79407
MULTI_FAMILY - Lubbock, TX
- Added:
- Oct 3, 2025
- Days on Market:
- 251
- Last Refresh:
- Jun 10 at 2:06 am
Property Features for 7603 Alcove Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 21
- Bathrooms
- 12
- Rooms
- Bathroom 6, Bathroom 3, Bedroom 6, Bathroom 1, Bedroom 2, Bedroom 4, Bedroom 14, Bedroom 21, Bedroom 3, Bathroom 2, Bedroom 20, Bedroom 13, Bathroom 5, Bedroom 5, Bathroom 11, Bathroom 10, Bathroom 7, Bedroom 11, Bedroom 15, Bathroom 4, Bathroom 12, Bedroom 10, Bedroom 1, Bedroom 19, Bedroom 16, Bedroom 7, Bedroom 9, Bedroom 12, Bathroom 9, Bathroom 8, Bedroom 8, Bedroom 18, Bedroom 17
- Standard status
- Active
- APN
- R130706
- Size
- 9,752 SF
- Lot size
- 4.00 Acres
Taxes and HOA fees
- Tax Description
- BLK AK SEC 31 AB 243 TR C4A LESS W10' ACS: .2565 - Please reach out to listing agent for all legal descriptions
- Tax Annual Amount
- 21000
Utilities
- Heating system
- Central
- Cooling system
- Central Air
Building Details
- Year built
- 1956
- Roof type
- Composition
Listing agent Jaden Timmons License #0686226 (806) 559-9191
Listing office Progressive Properties 6301 Indiana Ave, Lubbock, TX (806) 794-7777
Listing date Oct 3, 2025
Copyright © 2026 Lubbock Association 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.
HighLights
- Prime 4+\/- acre commercial land with immediate access to US‑82/62 (Marsha Sharp Fwy) in a fast‑growing area.
- Existing rental houses generate approximately $8,450 per month in income.
- United Supermarkets planned across the street, increasing property value.
- Alcove Ave scheduled for widening, improving visibility and access.
- Suitable for retail pads, neighborhood center, restaurants, or service‑oriented commercial uses.
- Surrounded by established retail and dining.
Overview
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $146.3k | $15.00 |
| − Vacancy | −$11.7k | −$1.20 |
| EGI | $134.6k | $13.80 |
| − OpEx | −$40.4k | −$4.14 |
| NOI | $94.2k | $9.66 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Lubbock
- County
- Lubbock
- State
- Texas
- Longitude
- -101.99151
- Latitude
- 33.524979
