8004 Indiana AveLubbock, TX 79423

Property Details for 8004 Indiana Ave

Year built

1984

Lot size

6.60 AC

Property size (Sq ft)

86,190 SF

Zone code

38

Property type

Strip malls

Property subtype

Neighborhood centers

APN

R55703

APU

R55703

Description

Melonie Square, located at 8004 Indiana Ave, Lubbock, TX 79423, presents a fantastic opportunity for retail businesses. This single-story, 85,292 square foot strip center, built in 1984 and renovated in 2016, is zoned NC (Neighborhood Commercial) in Lubbock County. The property boasts a prime location with high visibility and excellent access. Two available spaces offer flexible sizes, ranging from 1,325 to 4,020 square feet, ideal for a variety of retail uses. The center benefits from a strong tenant mix, including neighboring businesses such as New Taco Villa and First Bank and Trust auto bank, ensuring high foot traffic and brand synergy. For qualified tenants, build-out options and lease concessions are readily available. Enhance your business presence with the opportunity to utilize a marquee sign and exterior facade signage. This property offers a compelling combination of established infrastructure, convenient location, and attractive lease terms, making it an exceptional investment for discerning businesses seeking a thriving retail environment in Lubbock, Texas. The property's single-building design and ample square footage provide a versatile space adaptable to various retail concepts. The 2016 renovation ensures modern amenities and a well-maintained property. This is an excellent opportunity to establish or expand your business in a high-traffic area with strong neighboring businesses.

• CAP approach

  CAP return

  Valuation

  6%

  $18,796,966

  6.5%

  $17,351,046

  7%

  $16,111,685

• Comparable approach

  Method

  Valuation

  Relative Method

  $19,377,658

  Geo Method

  $26,133,360

• Alternative Use

  Use

  Valuation

  Residential

  $14,636,256

  Hospitality

  $13,406,732

  Educational

  $11,154,244

  Medical

  $11,537,855

  Retail

  $17,351,046

Location Insight

City

Lubbock

County

Lubbock

State

Texas

Latitude

33.521

Longitude

-101.889

CBSA code

31180

CBSA name

LUBBOCK, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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