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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3201 34th St Lubbock, TX 79410

    • Strip malls
    • 2,550 SF
    • 0.34 lot acres
    OFF-MARKET
    Last Sale
    Jul 14, 2020
    Value Estimations
    $315,000
    Show details
    Cap Rate Potential
    9.9%
    Strip malls
    Location Intelligence
    Property ID
    US82-2553877
    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

    • Strip malls

    Property Details for 3201 34th St

    Year built
    1956
    Lot size
    0.34 lot acres
    Property size
    2,550 SF
    Zone code
    38
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    R46786
    APU
    R46786

    Description

    This exceptional 2,550 square foot vacant shopping center is ideally situated on 34th Street in Lubbock, Texas, directly across from the vibrant Tech Terrace neighborhood. Boasting a prime location and high traffic volume, this property presents a multifaceted investment opportunity. The single-story building sits on a spacious 15,000 square foot lot and is ready for immediate occupancy. Previously planned for conversion into a unique restaurant concept, complete remediation has been undertaken, and the seller is open to sharing their detailed plans and renderings with potential buyers. This versatile property offers various investment strategies, including utilizing the front parking lot and building as one investment and the rear lot as a separate multi-family development. The asking price is $795,000, translating to $311.76 per square foot. The property's address is 3201 34th St, Lubbock, TX 79410. This is a rare chance to acquire a well-located commercial property with significant potential in a thriving Lubbock neighborhood. The property is currently vacant and offers a blank canvas for a wide range of commercial ventures.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $290,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $480,000
      6.5%
      $445,000
      7%
      $410,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $223,000
      Market price range: $76.7k - $223k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $275,000
      COMMERCIAL (GENERAL)
      $255,000
      AUTO REPAIR, GARAGE
      $225,000
      RETAIL STORES
      $200,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Lubbock
    County
    Lubbock
    State
    Texas
    Longitude
    -101.884
    Latitude
    33.563
    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
    $2,807
    $37,500
    $115,500
    $153,000
    -
    $37,500
    $115,500
    $153,000

    Comparable in this City

    • Value Estimation
      $310,000
      4,050 SF

      2853 34th St

      SHOPPING CENTER, STRIP CENTER • 4,050 SF
      2853 34th St, Lubbock, TX 79410-3523
      View Details
    • Value Estimation
      $335,000
      2,025 SF

      2849 34th St

      SHOPPING CENTER, STRIP CENTER • 2,025 SF
      2849 34th St, Lubbock, TX 79410-3523
      View Details
    • Value Estimation
      $695,000
      42,152 SF

      4426 34th St

      SHOPPING CENTER, STRIP CENTER • 42,152 SF
      4426 34th St, Lubbock, TX 79410-2417
      View Details
    • Value Estimation
      $680,000
      23,325 SF

      3403 34th St

      SHOPPING CENTER, STRIP CENTER • 23,325 SF
      3403 34th St, Lubbock, TX 79410-2829
      View Details
    • Value Estimation
      $605,000
      26,752 SF

      5002 34th St

      SHOPPING CENTER, STRIP CENTER • 26,752 SF
      5002 34th St, Lubbock, TX 79410-2301
      View Details
    • Value Estimation
      $330,000
      12,642 SF

      4021 34th St

      SHOPPING CENTER, STRIP CENTER • 12,642 SF
      4021 34th St, Lubbock, TX 79410-2637
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      9,288 SF

      Charming Lubbock Shopping Center

      Unique retail and office destination with a creative vibe.
      2610 Salem Ave, Lubbock, TX 79410
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    • $499,900
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      34th Street Retail Building - Lubbock, TX

      High-traffic auto shop, great location.
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    • $395,000
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      Established Restaurant and Building ForSale

      Well-established restaurant and building for sale, includes a second leased location.
      3605 34Th St, Lubbock, TX 79410
      View Details
    • $3,985,000

      Lubbock Retail Property For Sale

      Retail property available for purchase in Lubbock, Texas.
      3103-3135 34Th St, Lubbock, TX 79410
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    • $95,000
      1,567 SF

      34th Street Retail/Office Opportunity

      Redevelopment opportunity in high-visibility, high-traffic location.
      4620 34Th St, Lubbock, TX 79410
      View Details
    • Contact for pricing
      2,544 SF

      Freestanding Restaurant and Bar Space

      2,544 SF restaurant/bar near Texas Tech and Cactus Alley.
      2608 Salem Ave, Lubbock, TX 79410
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr
      1,127 SF

      Retail Space in Renovated Center

      Retail space available in a recently renovated strip center.
      3420 34Th St, Lubbock, TX 79410
      View Details
    • $396,000
      4,000 SF

      Retail Center on 34th Street

      Retail center with two spaces available for sale or lease.
      2621 34Th St, Lubbock, TX 79410
      View Details
    • $15 SF/Yr
      11,392 SF

      Remodeled Retail Center Near Freeway

      Modernized retail suites available in high-visibility Lubbock location.
      5002 34Th St, Lubbock, TX 79410
      View Details
    • $17 SF/Yr
      20,075 SF

      Oak Tree Village: Lubbock Office Space

      Prime Lubbock Office, Medical, Retail
      3701 19Th St, Lubbock, TX 79410
      View Details
    • $3,000 /Mo
      1,700 SF

      Retail Space in Lubbock, TX

      Retail space available for lease in Lubbock, Texas.
      2601 Boston Ave, Lubbock, TX 79410
      View Details
    • $295,000
      1,560 SF

      Retail/Office Space on 34th Street

      Adaptable retail/office space with high visibility and ample parking.
      4622 34Th St, Lubbock, TX 79410
      View Details
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    Lubbock, TX 79410
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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
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