2862 34Th StLubbock, TX 79410

Property Details for 2862 34Th St

Year built

1946

Lot size

0.36 AC

Property size (Sq ft)

14,166 SF

Zone code

38

Property type

Retail properties

Property subtype

Strip malls

APN

R54117

APU

R54117

Description

This exceptional investment opportunity presents a 14,166 square foot retail shopping center in Lubbock, Texas, boasting 100% occupancy. The property features two tenants, including a Dollar General that serves as a regional training center, ensuring strong, long-term revenue generation. Built in 1956, this single-story, 1-building center sits on a 15,600 square foot lot and is zoned F1 - Real Commercial. The current Net Operating Income (NOI) stands at $38,050, reflecting a stabilized investment with significant upside potential. Leases are modified gross, with tenants responsible for utilities. Below-market rents offer immediate value-add opportunities for the savvy investor. This property presents a rare chance to acquire a cash-flowing, multi-tenant retail center anchored by a national brand in a prime Lubbock location. The property consists of two units, offering flexibility and diversification. This is a turnkey investment ready for immediate income generation.

• CAP approach

  CAP return

  Valuation

  6%

  $3,089,428

  6.5%

  $2,851,780

  7%

  $2,648,082

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,184,870

  Geo Method

  $4,295,222

• Alternative Use

  Use

  Valuation

  Residential

  $2,405,583

  Hospitality

  $2,203,501

  Educational

  $1,833,287

  Medical

  $1,896,337

  Retail

  $2,851,780

Location Insight

City

Lubbock

County

Lubbock

State

Texas

Latitude

33.5636

Longitude

-101.879

CBSA code

31180

CBSA name

LUBBOCK, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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