Property profile

811 50th St Lubbock, TX 79404

OFF-MARKET
Turn key restaurants
Property ID
US82-3274946
2,060 SF 0.34 ac lot Built 1961
Individually Owned 21-yr Hold Absentee Owner Free & Clear
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Property summary

AI-generated overview

This exceptional restaurant property, located at 811 50th Street in Lubbock, Texas, offers 2,060 square feet of space in a single-tenant building on a 14,692 square foot lot. Built in 1961 and renovated in 2005, the property boasts a highly desirable location at the corner of 50th Street and Interstate 27, ensuring high visibility and accessibility. The building features a modern kitchen with stainless steel finishes, a state-of-the-art vent hood equipped with an ANSL fire suppression system, and a substantial 1000-gallon grease trap. Additional amenities include a convenient office, a spacious walk-in freezer, and a double-sided drive-through for optimal customer service. Ample parking is provided with 25 spaces. The property is zoned F1-Real commercial (APN: R305645) and offers a unique opportunity for a thriving restaurant business. The lease terms include a five-year agreement with a discounted monthly rate of $2500 for the first year (requiring a six-month advance payment), increasing to $3300 monthly for years two through five. Existing kitchen equipment is available for separate purchase.

Property profile

Verified
Property type Turn key restaurants
Use group RESTAURANT
Year built 1961
Total area 2,060 SF
Lot 0.34 ac (14,692 SF)
APN R305645
UPID US82-3274946

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 Alternative Medicine Practice

Location

811 50th St Lubbock, TX 79404-3662
Lubbock metro Census 2402 LUBBOCK, TX METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$275k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$275k

Owner & transaction history

since 2004
1 recorded transaction
2004
Price N/A

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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