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8004 Indiana Ave Lubbock, TX 79423

Strip malls Google Maps
86,190 SF 6.6 ac lot Built 1984
Entity Owned 7-yr Hold Absentee Owner ~ Est. High Equity
Estimated value (blended)
$2.41M
Range $2.16M – $2.65M (±10%)
Property ID US82-3854481

Property summary

AI-generated overview

Melonie Square, located at 8004 Indiana Ave, Lubbock, TX 79423, presents a fantastic opportunity for retail businesses. This single-story, 85,292 square foot strip center, built in 1984 and renovated in 2016, is zoned NC (Neighborhood Commercial) in Lubbock County. The property boasts a prime location with high visibility and excellent access. Two available spaces offer flexible sizes, ranging from 1,325 to 4,020 square feet, ideal for a variety of retail uses. The center benefits from a strong tenant mix, including neighboring businesses such as New Taco Villa and First Bank and Trust auto bank, ensuring high foot traffic and brand synergy. For qualified tenants, build-out options and lease concessions are readily available. Enhance your business presence with the opportunity to utilize a marquee sign and exterior facade signage. This property offers a compelling combination of established infrastructure, convenient location, and attractive lease terms, making it an exceptional investment for discerning businesses seeking a thriving retail environment in Lubbock, Texas. The property's single-building design and ample square footage provide a versatile space adaptable to various retail concepts. The 2016 renovation ensures modern amenities and a well-maintained property. This is an excellent opportunity to establish or expand your business in a high-traffic area with strong neighboring businesses.

Property profile

Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 1984
Total area 86,190 SF
Lot 6.6 ac (287,285 SF)
Zoning code 38
APN R55703
UPID US82-3854481

Cap rate & NOI

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

Current use

Occupant on record · Public records
  • (Bike/Boat/Book/etc) Store
  • Bank Credit Union
  • Home Health Care Service
  • Discount Store
  • Nail Salon

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$2.41M

Owner & transaction history

since 2019
5 recorded transactions
2019
Price N/A
2019
Price N/A
2008
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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More about this property
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