Your AI Navigator in Commercial Real Estate
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
    Back to Search
    Property profile & analytics

    701 50th St Lubbock, TX 79404-3758

    • Turn key restaurants
    • 6,384 SF
    • 1.32 lot acres
    OFF-MARKET
    Value Estimations
    $305,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-2852204
    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

    • Turn key restaurants

    Property Details for 701 50th St

    Year built
    1994
    Lot size
    1.32 lot acres
    Property size
    6,384 SF
    Zone code
    38
    Property type
    Turn key restaurants
    APN
    R117725
    APU
    R117725

    Description

    This exceptional opportunity presents the chance to acquire George's Restaurant, a well-established Lubbock eatery with a rich history. Located at 701 E 50th St, Lubbock, TX 79404, this 6,384 square foot restaurant sits on a 1.319-acre lot. The property has undergone recent renovations, resulting in a turnkey operation ready for immediate use. The sale includes both the real estate and the established business, offering a seamless transition for the new owner. However, the seller is open to leasing the property to a qualified tenant. This prime location boasts high visibility and convenient access to major highways, ensuring a strong customer base. The asking price for the entire package is $1,000,000. Seller financing options are available, making this an attractive investment for those looking to enter the thriving Lubbock restaurant market. This iconic restaurant presents a unique opportunity to own a piece of Lubbock history and capitalize on a well-established, profitable business. The property's size and location make it an ideal investment for both operators and investors seeking a stable and successful venture. Don't miss this chance to own or lease a beloved Lubbock landmark.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $295,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $419,000
      Market price range: $420k - $964k

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

    Location Insight

    • Map
    • Local Demand
    City
    Lubbock
    County
    Lubbock
    State
    Texas
    Longitude
    -101.829
    Latitude
    33.5492
    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
    $11,246
    $17,238
    $673,163
    $690,401
    -
    $17,238
    $673,163
    $690,401

    Comparable in this City

    • Value Estimation
      $265,000
      584 SF

      4250 Ave A A

      RESTAURANT • 584 SF
      4250 Ave A A, Lubbock, TX 79404-3428
      View Details
    • Value Estimation
      $265,000
      645 SF

      1902 Ave A A

      RESTAURANT • 645 SF
      1902 Ave A A, Lubbock, TX 79404
      View Details
    • Value Estimation
      $280,000
      720 SF

      529 34th St

      RESTAURANT • 720 SF
      529 34th St, Lubbock, TX 79404-2129
      View Details
    • Value Estimation
      $275,000
      2,060 SF

      811 50th St

      RESTAURANT • 2,060 SF
      811 50th St, Lubbock, TX 79404-3662
      View Details
    • Value Estimation
      $315,000
      3,177 SF

      5010 Interstate 27

      RESTAURANT • 3,177 SF
      5010 Interstate 27, Lubbock, TX 79404-4432
      View Details
    • Value Estimation
      $280,000
      2,220 SF

      2510 Martin L King Blvd

      RESTAURANT • 2,220 SF
      2510 Martin L King Blvd, Lubbock, TX 79404-1319
      View Details

    Similar Nearby for Sale

    • $350,000

      Lubbock Nightclub Opportunity

      Nightclub for sale in Lubbock, Texas, spanning 9,170 SF.
      2202 Buddy Holly Ave, Lubbock, TX 79404
      View Details
    • $275,000
      4,754 SF

      Two Commercial Buildings Near I-27

      Two buildings totaling 4,754 SF, excellent visibility, highway access.
      4411 Interstate 27, Lubbock, TX 79404
      View Details
    • $199,999

      Warehouse/Former Body Shop For Sale

      Warehouse/former body shop with office, kitchen, and outdoor parking.
      512 E 34Th St, Lubbock, TX 79404
      View Details
    • $450,000
      3.13 Acres

      Lubbock Industrial Warehouse Facility

      Versatile industrial warehouse in a highly visible Lubbock location.
      4401 Avenue A, Lubbock, TX 79404
      View Details
    • $1,500,000

      Prime Lubbock Industrial Land

      Excellent location, high visibility, $1.5M
      5800 Elm Ave, Lubbock, TX 79404
      View Details
    • $1,600,000
      108,771 SF

      High-Traffic Lubbock Commercial Land

      108,771 SF lot, $1.6M asking.
      7502 Interstate 27, Lubbock, TX 79404
      View Details

    Similar Nearby for Lease

    • $2,500 /Mo
      2,060 SF

      Retail Space on 50th Street

      Retail property suitable for restaurant or other business.
      811 50Th St, Lubbock, TX 79404
      View Details
    • $1,750 /Mo
      3,600 SF

      Retail Space on 34th Street

      Retail space with high visibility and ample storage.
      1400 34Th St, Lubbock, TX 79404
      View Details
    • $12 SF/Yr
      4,734 SF

      I-27 Frontage Road Office Space

      4,734 SF Office Building, Lubbock, TX
      3620 I-27 Frontage Rd, Lubbock, TX 79404
      View Details
    • $10 SF/Yr
      30,000 SF

      Lubbock County Warehouse Build-to-Suit

      Flexible Warehouse Space in Lubbock, TX
      8308 Peach Ave, Lubbock, TX 79404
      View Details
    • $7 SF/Yr
      25,187 SF

      Industrial Unit Available For Lease

      25,187 SF industrial unit available for lease.
      3801-3827 Magnolia Ave, Lubbock, TX 79404
      View Details
    • Contact for pricing
      8,642 SF

      Lubbock Warehouse with Fenced Yard

      8,642 SF warehouse on 1.62 acres with freezer option.
      8402 Avenue D, Lubbock, TX 79404
      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.
    701 50th St
    Lubbock, TX 79404-3758
    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.