4845 50Th StLubbock, TX 79414

Property Details for 4845 50Th St

Year built

1972

Lot size

0.53 AC

Property size (Sq ft)

8,086 SF

Zone code

38

Property type

Turn key restaurants

APN

R31506

APU

R31506

Description

This exceptional retail property, located at 4845 50th Street, offers 8,006 square feet of space in a single, one-story building situated on a 22,950 square foot lot. Built in 1972 and extensively renovated in 2024, the property boasts a prime location in the Local Retail District, offering excellent visibility and accessibility. Currently, 4,156 square feet of space is available for lease, representing a significant opportunity for retail businesses seeking a modern, well-maintained space. The renovations include a new roof, exterior paint, landscaping enhancements, and parking lot striping. The interior has been completely gutted to shell space, providing a blank canvas for tenant build-outs. The property features 135 feet of frontage on 50th Street, providing ample street visibility. Abundant surface parking is available for customers and employees. The strategic location near Slide Road places the property in close proximity to a thriving culinary scene, including well-known restaurants such as the Cheesecake Factory, Uncle Julio's, and Bubba's 33. The available space is adaptable and can be subdivided to accommodate smaller tenants. This is an ideal opportunity for businesses seeking a high-visibility location with modern amenities in a rapidly developing area. The property's APN is R31506.

• CAP approach

  CAP return

  Valuation

  6%

  $1,763,456

  6.5%

  $1,627,806

  7%

  $1,511,534

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,817,934

  Geo Method

  $2,451,727

• Alternative Use

  Use

  Valuation

  Residential

  $1,373,115

  Hospitality

  $1,257,766

  Educational

  $1,046,446

  Medical

  $1,082,435

  Retail

  $1,627,806

Location Insight

City

Lubbock

County

Lubbock

State

Texas

Latitude

33.5484

Longitude

-101.918

CBSA code

31180

CBSA name

LUBBOCK, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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