4950 Loop 289Lubbock, TX 79414

Property Details for 4950 Loop 289

Year built

1980

Lot size

0.68 AC

Property size (Sq ft)

7,042 SF

Zone code

38

Property type

Turn key restaurants

APN

R119147

APU

R119147

Description

This 7,042 square foot restaurant is located at 4950 South Loop 289 in Lubbock, Texas, offering high visibility frontage on a major road and situated as an outparcel of a retail center. The property boasts 67 parking spaces and sits adjacent to South Plains Mall, home to nationally recognized tenants such as Chick-fil-A, Barnes & Noble, JCPenny, Dillards (recently expanded to a 220,000 square foot flagship store), and Foot Locker. Lubbock is a rapidly growing market, projected to experience an 8% annual population increase over the next five years, fueled by its status as a college town (5 miles from Texas Tech University with over 41,000 students) and a medical center hub (home to Texas Tech University Health Sciences Center, University Medical Center, and Covenant Medical Center). The property is zoned Auto Urban Commercial and sits on a 0.68-acre lot, providing ample space and excellent access via Slide Road and South Loop 289 Access Road. This location benefits from strong surrounding retail and the consistent traffic generated by the nearby mall and institutions. The property's single-tenant occupancy presents a unique investment opportunity in a thriving Texas market. Lubbock County location, zip code 79414.

• CAP approach

  CAP return

  Valuation

  6%

  $1,168,210

  6.5%

  $1,078,350

  7%

  $1,001,320

• Comparable approach

  Method

  Valuation

  Relative Method

  $653,391

  Geo Method

  $881,185

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $2,072,680

  Mixed-Use / Specialty

  $1,086,710

  Hospitality / Lodging

  $813,171

  Office

  $1,092,960

  Institutional / Educational

  $1,134,100

  Residential Income

  $1,326,900

  Multifamily

  $1,523,750

  Automotive / Energy

  $972,085

  Parking / Income-Based Land

  $323,398

  Restaurant / Food Service

  $591,250

  Healthcare / Senior Housing

  $1,101,880

Location Insight

City

Lubbock

County

Lubbock

State

Texas

Latitude

33.5352

Longitude

-101.92

CBSA code

31180

CBSA name

LUBBOCK, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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