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Property profile & analytics
OFF-MARKET
Turn key restaurants

4950 Loop 289 Lubbock, TX 79414-4725

7,042 SF 0.68 ac lot Built 1980
Entity Owned 10-yr Hold Absentee Owner Free & Clear
Property ID
US82-2613208
Property summary
AI-generated overview

This 7,042 square foot restaurant is located at 4950 South Loop 289 in Lubbock, Texas, offering high visibility frontage on a major road and situated as an outparcel of a retail center. The property boasts 67 parking spaces and sits adjacent to South Plains Mall, home to nationally recognized tenants such as Chick-fil-A, Barnes & Noble, JCPenny, Dillards (recently expanded to a 220,000 square foot flagship store), and Foot Locker. Lubbock is a rapidly growing market, projected to experience an 8% annual population increase over the next five years, fueled by its status as a college town (5 miles from Texas Tech University with over 41,000 students) and a medical center hub (home to Texas Tech University Health Sciences Center, University Medical Center, and Covenant Medical Center). The property is zoned Auto Urban Commercial and sits on a 0.68-acre lot, providing ample space and excellent access via Slide Road and South Loop 289 Access Road. This location benefits from strong surrounding retail and the consistent traffic generated by the nearby mall and institutions. The property's single-tenant occupancy presents a unique investment opportunity in a thriving Texas market. Lubbock County location, zip code 79414.

Property profile
Verified
Property type Turn key restaurants
Use group RESTAURANT
Year built 1980
Total area 7,042 SF
Lot 0.68 ac (29,805 SF)
Zoning code 38
APN R119147
UPID US82-2613208
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Hooters Bar & Pub
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
by Request
Owner & transaction history
Possum Group Ltd · 10 yrs held
Possum Group Ltd
since 2016
5 recorded transactions
2023
Price N/A
2016
Price N/A
2016
Price N/A
2016
Price N/A
2014
Price N/A
Zoning & alternative use
38 · Lubbock, TX
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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