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

    3218 34th St Lubbock, TX 79410-3230

    • Turn key restaurants
    • 1,800 SF
    • 0.36 lot acres
    OFF-MARKET
    Value Estimations
    $270,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-2845064
    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

    • Miss Ann's Classic Diner / Hamburger Restaurant / Fast Food Restaurant
    • ALL US Mold Removal & Remediation Lubbock TX / Home Help / Water Damage Restoration Service
    • B'M Attic Insulation Services / Insulation Materials Store / Roofing Contractor

    Property Details for 3218 34th St

    Year built
    1968
    Lot size
    0.36 lot acres
    Property size
    1,800 SF
    Zone code
    38
    Property type
    Turn key restaurants
    APN
    R58022
    APU
    R58022

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $265,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $342,000
      Market price range: $192k - $412k

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

    Location Insight

    • Map
    • Local Demand
    City
    Lubbock
    County
    Lubbock
    State
    Texas
    Longitude
    -101.885
    Latitude
    33.5636
    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
    $2,748
    $39,000
    $137,506
    $176,506
    -
    $39,000
    $137,506
    $176,506

    Comparable in this City

    • Value Estimation
      $285,000
      5,012 SF

      3040 34th St

      RESTAURANT • 5,012 SF
      3040 34th St, Lubbock, TX 79410-3226
      View Details
    • Value Estimation
      $280,000
      2,130 SF

      3612 34th St

      RESTAURANT • 2,130 SF
      3612 34th St, Lubbock, TX 79410-2834
      View Details
    • Value Estimation
      $275,000
      1,229 SF

      4401 34th St

      RESTAURANT • 1,229 SF
      4401 34th St, Lubbock, TX 79410-2416
      View Details
    • Value Estimation
      $275,000
      675 SF

      3006 34th St

      RESTAURANT • 675 SF
      3006 34th St, Lubbock, TX 79410-3226
      View Details
    • Value Estimation
      $270,000
      1,269 SF

      3816 34th St

      RESTAURANT • 1,269 SF
      3816 34th St, Lubbock, TX 79410-2636
      View Details
    • Value Estimation
      $275,000
      1,196 SF

      3017 34th St

      RESTAURANT • 1,196 SF
      3017 34th St, Lubbock, TX 79410-3225
      View Details

    Similar Nearby for Sale

    • $395,000
      2,898 SF

      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
    • 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
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    • $250,000
      1,196 SF

      Restaurant/Cafe Investment Opportunity

      1,195 SF restaurant/cafe investment opportunity on 34th Street.
      3017 34Th St, Lubbock, TX 79410
      View Details
    • $499,900
      5,230 SF

      34th Street Retail Building - Lubbock, TX

      High-traffic auto shop, great location.
      3807 34Th St, Lubbock, TX 79410
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    • $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

    Similar Nearby for Lease

    • Contact for pricing
      990 SF

      34th Street Retail Center Investment

      Prime Lubbock Retail Space, Newly Renovated
      4426 34Th St, Lubbock, TX 79410
      View Details
    • $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
    • $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
    • $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
    • $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
    • $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
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    3218 34th St
    Lubbock, TX 79410-3230
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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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