Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Property profile & analytics

    7624 Us Highway 84 Slaton, TX 79364

    • Retail space
    • 3,000 SF
    • 6.33 lot acres
    For Lease
    View listing
    $12 SF/Yr
    Last Sale
    Aug 22, 2024
    Value Estimations
    $385,000
    Cap Rate Potential
    9.6%
    Retail space
    Location Intelligence
    Property ID
    US82-5329180
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Retail space

    Property Details for 7624 Us Highway 84

    Year built
    1996
    Lot size
    6.33 lot acres
    Property size
    3,000 SF
    Zone code
    23
    Property type
    Retail space
    APN
    R148504
    APU
    R148504

    Description

    This exceptional 5,000-square-foot warehouse, constructed in 2015, sits on a spacious 7-acre lot outside city limits. The property boasts a versatile layout, including a showroom/service/office area complete with central heating and air conditioning, and a restroom. Adjacent to this area is a warehouse featuring a 14-foot grade-level overhead door, a dedicated parts room, and an additional restroom. This warehouse space is separated from another warehouse section by a 12-foot grade-level overhead door. The second warehouse section offers three 14-foot-tall by 12-foot-wide grade-level insulated overhead doors. Both warehouse sections benefit from insulation for optimal climate control. Currently, two acres of the lot are fenced, providing a secure stack yard, with an additional five acres available to the west. The owner is open to discussions regarding fencing this additional area to expand the stack yard. To enhance safety and accessibility, TxDOT has approved the addition of three new entrances. Two will be located on the Slaton Highway (north) side, and one on the FM 1585/130th Street side. These improvements will significantly improve ingress and egress to the property. The property is zoned for outside city limits and is a single-tenant occupancy.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $305,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $485,000
      6.5%
      $445,000
      7%
      $415,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $397,000
      Market price range: $176k - $398k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $320,000
      Current use
      COMMERCIAL (GENERAL)
      $455,000
      Change: +43% Conversion: Easy
      OFFICE BUILDING
      $430,000
      Change: +35% Conversion: Easy
      WAREHOUSE, STORAGE
      $300,000
      Change: -6% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $260,000
      Change: -18% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Slaton
    County
    Lubbock
    State
    Texas
    Longitude
    -101.703
    Latitude
    33.4775
    CBSA code
    31180
    CBSA name
    LUBBOCK, TX METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $3,941
    $56,970
    $236,793
    $293,763
    -
    $56,970
    $236,793
    $293,763

    Comparable in this City

    • Value Estimation
      $260,000
      1,608 SF

      1355 9th St

      RETAIL STORES (PERSONAL SERVICES) • 1,608 SF
      1355 9th St, Slaton, TX 79364-6117
      View Details
    • Value Estimation
      $290,000
      6,116 SF

      159 9th St

      RETAIL STORES (PERSONAL SERVICES) • 6,116 SF
      159 9th St, Slaton, TX 79364-4121
      View Details
    • Value Estimation
      $385,000
      3,050 SF

      166 8th St

      RETAIL STORES (PERSONAL SERVICES) • 3,050 SF
      166 8th St, Slaton, TX 79364-4146
      View Details
    • Value Estimation
      $250,000
      1,477 SF

      1790 9th St

      RETAIL STORES (PERSONAL SERVICES) • 1,477 SF
      1790 9th St, Slaton, TX 79364
      View Details
    • Value Estimation
      $290,000
      2,250 SF

      121 9th St

      RETAIL STORES (PERSONAL SERVICES) • 2,250 SF
      121 9th St, Slaton, TX 79364-4121
      View Details
    • Value Estimation
      $360,000
      2,836 SF

      165 Lubbock St

      RETAIL STORES (PERSONAL SERVICES) • 2,836 SF
      165 Lubbock St, Slaton, TX 79364
      View Details

    Similar Nearby for Sale

    • $575,000
      4,600 SF

      22-Acre Commercial Property in Slaton

      22-acre commercial property with store and RV spots near Buffalo Springs Lake.
      6202 Highway 84 E, Slaton, TX 79364
      View Details
    • $179,900
      1,500 SF

      Slaton Commercial Property For Sale

      Commercial property in excellent condition, ready for new owner.
      200 W Crosby St, Slaton, TX 79364
      View Details
    • $160,000
      5,300 SF

      Slaton Commercial Property For Sale

      Versatile commercial property with large yard and secure access.
      400 Industrial Dr, Slaton, TX 79364
      View Details
    • $219,000
      3 SF

      Slaton, TX Versatile Investment Property

      Prime property zoned for commercial retail and single-family development.
      1401 West Woodrow Rd, Slaton, TX 79364
      View Details
    • New
      Contact for pricing
      0.16 Acres

      Residential Lot in Slaton, TX

      Residential lot perfect for building a dream home in Slaton.
      430 S 2Nd St, Slaton, TX 79364
      View Details
    • New
      $79,900
      Pending

      Residential Land in Roosevelt ISD

      10.01 acres in Slaton, TX, Roosevelt ISD.
      14 Roosevelt Farms Cr 6710, Slaton, TX 79364
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,500 SF

      Ransom Canyon Warehouse For Lease

      1,500 SF Warehouse on 2 Acres
      5111 Ransom Rd, Ransom Canyon, TX 79364
      View Details
    • $0.36 SF/Yr
      108,900 SF

      Slaton Land: US 84 & Borden St.

      Prime Industrial/Commercial Land
      1900 9Th St, Slaton, TX 79364
      View Details
    • $12 SF/Yr
      5,000 SF

      Prime 5,000 SF Warehouse on 7 Acres

      Modern warehouse with showroom & ample yard space.
      7624 Us Highway 84, Slaton, TX 79364
      View Details
    • $4,000 /Mo
      12,084 SF

      Slaton Commercial Land For Lease

      Commercial land available for lease in Slaton, Texas.
      7310 Highway 84 E, Slaton, TX 79364
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    7624 Us Highway 84
    Slaton, TX 79364
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.