Property profile

701 50th St Lubbock, TX 79404

OFF-MARKET
Turn key restaurants
Property ID
US83-2852204
6,384 SF 1.32 ac lot Built 1994
Individually Owned 13-yr Hold Absentee Owner Free & Clear
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Property summary

AI-generated overview

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.

Property profile

Verified
Property type Turn key restaurants
Use group RESTAURANT
Year built 1994
Total area 6,384 SF
Lot 1.32 ac (57,456 SF)
Zoning code 38
APN R117725
UPID US83-2852204

Cap rate & NOI

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

Location

701 50th St Lubbock, TX 79404-3758
Lubbock metro Census 2500 LUBBOCK, TX METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$295k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$355k

Owner & transaction history

since 2013
3 recorded transactions
2013
Price N/A
2008
Price N/A
2006
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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