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    1415 34Th St Lubbock, TX 79411

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    For Lease
    Contact for pricing

    High-visibility strip center with vacancies.

    Lot size:
    21,120 SF

    Property Features for 1415 34Th St

    General Information

    Property type
    Neighborhood centers
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    21,120 SF
    Total Rate
    9979.2

    Building Details

    Year Built
    1974

    Spaces For Lease

    at 1415 34Th St, Lubbock, TX 79411 Contact us
    Unit 1409 34th Street

    $5 /Mo

    Size
    3,600 SF
    Contact us
    Unit 1415 34th Street

    $5 /Mo

    Size
    1,800 SF
    Contact us

    We can help!

    Listing Contact
    Crystal H. Edwards
    Crystal H. Edwards

    Listing Agency: WestMark Commercial Listing Agent: Crystal H. Edwards

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional retail opportunity presents 21,120 square feet of prime commercial space in a thriving Lubbock, Texas location at 1415 34th Street, zip code 79411. Built in 1974 and zoned C-4, this multi-tenant strip center boasts excellent street visibility due to its 34th Street frontage, situated conveniently between I-27 and Avenue Q. Currently, there are 1,800 square feet of vacant space available, with the potential for spaces ranging from 1,800 to 3,600 square feet. The property benefits from strong co-tenancy with established businesses including World Finance, A-MAX Insurance, and Black Door Tattoo Studio, ensuring a steady flow of foot traffic. Ample parking is available, including an adjacent vacant lot to the east, providing convenient access for customers and employees. This well-located retail center offers a unique chance to establish or expand your business in a bustling Lubbock neighborhood. The property's strong visibility and established tenant base make it an attractive investment opportunity. Don't miss this chance to secure a prime retail space in a high-traffic area.
    Property Profile Location Intelligence

    Current Use by Public Records

    Mercy Health and consulting Medical Clinic Celeritous Technical Services ... Electronics & Wireless Store

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lubbock
    County
    Lubbock
    State
    Texas
    Longitude
    -101.85048088519
    Latitude
    33.563297609248

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    FAQs

    What type of property is this?
    Neighborhood center - High-visibility strip center with vacancies.
    Where is this neighborhood center located?
    The property is located at 1415 34Th St Lubbock, TX.
    What is the lease rate?
    The lease rate is $5-$5 SF/Yr.
    What are key features of this property?
    This property features: 21,120 SF multi-tenant retail center in Lubbock, TX (79411).; 1,800 SF - 3,600 SF of available space in a C-4 zoned property with excellent street visibility on 34th Street, between I-27 and Avenue Q.; 1409 34th Street: 3,600 SF available; features approx. 1,800 SF of open retail space, large warehouse, 2 restrooms, 2 double commercial doors, and suspended heating units.
    (806) 786-7374 Call to check price and availability
    Request Owner's contact information
    1415 34Th St Lubbock, TX 79411
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    Lubbock, TX 79411
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1415 34Th St Lubbock, TX 79411
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    Contact for Pricing
    Please call us for current price
    and status of this listing Crystal H. Edwards
    Crystal H. Edwards
    Real Estate License ID: #0595583-SA
    (806) 786-7374 (806) 794-3300
    Learn more
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