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3201 34th St Lubbock, TX 79410

OFF-MARKET Strip malls Google Maps
2,550 SF 0.34 ac lot Built 1956
Trust Owned 6-yr Hold Free & Clear
Estimated value (blended)
$290k
Range $261k – $319k (±10%)
Property ID US82-2553877

Property summary

AI-generated overview

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.

Property profile

Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 1956
Total area 2,550 SF
Lot 0.34 ac (15,000 SF)
Zoning code 38
APN R46786
UPID US82-2553877

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$290k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$290k

Owner & transaction history

since 2020
6 recorded transactions
2020
Price N/A
2015
Price N/A
2015
$197,600
1969
Price N/A
1969
Price N/A
1969
Price N/A

Zoning & alternative use

38 · Lubbock, TX

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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