3201 34Th StLubbock, TX 79410

Property Details for 3201 34Th St

Year built

1956

Lot size

0.34 AC

Property size (Sq ft)

2,550 SF

Zone code

38

Property type

Strip malls

Property subtype

Neighborhood centers

APN

R46786

APU

R46786

Description

This exceptional 2,550 square foot vacant shopping center is ideally situated on 34th Street in Lubbock, Texas, directly across from the vibrant Tech Terrace neighborhood. Boasting a prime location and high traffic volume, this property presents a multifaceted investment opportunity. The single-story building sits on a spacious 15,000 square foot lot and is ready for immediate occupancy. Previously planned for conversion into a unique restaurant concept, complete remediation has been undertaken, and the seller is open to sharing their detailed plans and renderings with potential buyers. This versatile property offers various investment strategies, including utilizing the front parking lot and building as one investment and the rear lot as a separate multi-family development. The asking price is $795,000, translating to $311.76 per square foot. The property's address is 3201 34th St, Lubbock, TX 79410. This is a rare chance to acquire a well-located commercial property with significant potential in a thriving Lubbock neighborhood. The property is currently vacant and offers a blank canvas for a wide range of commercial ventures.

• CAP approach

  CAP return

  Valuation

  6%

  $423,024

  6.5%

  $390,484

  7%

  $362,592

• Comparable approach

  Method

  Valuation

  Relative Method

  $236,601

  Geo Method

  $319,089

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $750,545

  Mixed-Use / Specialty

  $393,511

  Hospitality / Lodging

  $294,460

  Office

  $395,776

  Institutional / Educational

  $410,672

  Residential Income

  $480,486

  Multifamily

  $551,770

  Automotive / Energy

  $352,005

  Parking / Income-Based Land

  $117,106

  Restaurant / Food Service

  $214,099

  Healthcare / Senior Housing

  $399,006

Location Insight

City

Lubbock

County

Lubbock

State

Texas

Latitude

33.563

Longitude

-101.884

CBSA code

31180

CBSA name

LUBBOCK, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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