201 1St StIdalou, TX 79329

Property Details for 201 1St St

Year built

1962

Lot size

0.98 AC

Property size (Sq ft)

3,772 SF

Zone code

32

Property type

Retail space

APN

R130212

APU

R130212

Description

This exceptional commercial investment opportunity encompasses a total of 1,985 square feet of retail and/or office space, strategically located at 201 North 1st Street in Idalou, Texas, 79329. The property, priced at $350,000, includes three adjacent properties (201, 203, and 205 West 1st Street), totaling 0.98 acres of land. The building's versatile layout is suitable for various retail or office uses, offering significant flexibility for potential tenants. Its hard-corner location on the Idalou Highway ensures high visibility and accessibility, attracting substantial foot traffic. A large parking lot provides ample space for customers and employees. The property is currently vacant, presenting a unique chance to customize the space to meet specific business needs. This is a rare opportunity to acquire a substantial commercial property in a thriving Texas town, offering excellent potential for return on investment. The modified lease type allows for flexibility in tenant agreements. The property is classified as a convenience store and storefront.

• CAP approach

  CAP return

  Valuation

  6%

  $822,626

  6.5%

  $759,347

  7%

  $705,108

• Comparable approach

  Method

  Valuation

  Relative Method

  $848,040

  Geo Method

  $1,143,694

• Alternative Use

  Use

  Valuation

  Residential

  $640,538

  Hospitality

  $586,729

  Educational

  $488,152

  Medical

  $504,940

  Retail

  $759,347

Location Insight

City

Idalou

County

Lubbock

State

Texas

Latitude

33.667

Longitude

-101.682

CBSA code

31180

CBSA name

LUBBOCK, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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