1506 34th St Lubbock, TX 79411
- Retail space
- 18,650 SF
- 0.67 lot acres
Current Use by Public Records
- Retail space
Property Details for 1506 34th St
- Year built
- 1961
- Lot size
- 0.67 lot acres
- Property size
- 18,650 SF
- Zone code
- 38
- Property type
- Retail space
- APN
- R88330
- APU
- R88330
Description
This exceptional retail storefront investment opportunity presents a 22,300 square foot building situated on a 0.77-acre lot at 1506 34th St, Lubbock, TX 79411. Currently 100% occupied by a single tenant under a 20-year Double Net (NN) lease with 4 years remaining, this property boasts a strong 7.55% cap rate and a substantial NOI of $66,040. The tenant is responsible for 100% of property taxes, minimizing landlord responsibilities. Strategically located in a high-traffic area, this property benefits from its proximity to Interstate 27 (54,600 vehicles daily) and US-84 (17,400 vehicles daily), placing it just 2 miles from downtown Lubbock and Texas Tech University (42,000+ students and staff). The surrounding area features a dense concentration of residential, retail, and educational establishments, further enhancing its appeal. Lubbock's robust demographics, with over 177,700 residents within a 5-mile radius and a projected 10% population increase by 2027, solidify this investment's long-term potential. The asking price is $875,000. This is a rare opportunity to acquire a high-performing, low-maintenance retail property in a thriving Texas market.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $400,000
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Lubbock
- County
- Lubbock
- State
- Texas
- Longitude
- -101.852
- Latitude
- 33.5636
- CBSA code
- 31180
- CBSA name
- LUBBOCK, TX METROPOLITAN STATISTICAL AREA
