7006 University AveLubbock, TX 79413

Property Details for 7006 University Ave

Year built

1983

Lot size

0.38 AC

Property size (Sq ft)

2,859 SF

Zone code

38

Property type

Retail properties

Property subtype

Turn key restaurants

APN

R122830

APU

R122830

Description

Poko Lambro Plaza offers 40,404 square feet of prime retail space in a highly visible location at the Northwest corner of University Avenue and Loop 289 South in Lubbock County. This Class B, single-story shopping center provides multiple tenancy options, with suites ranging from a minimum of 1,500 square feet to a maximum contiguous space of 6,297 square feet. The property is zoned commercial and boasts excellent ingress and egress, featuring on and off ramps in each direction on the Loop 289 freeway. Recent upgrades include a brand new, highly visible pylon sign and upgraded LED parking lot lighting. Octapharma, a major tenant, recently completed a significant remodel, establishing this location as their flagship store. The center benefits from strong demographics and a heavily traveled, signalized intersection, ensuring high visibility and foot traffic. This is an exceptional opportunity for businesses seeking a well-maintained, conveniently located retail space in a thriving Lubbock neighborhood. The property is situated within a commercially zoned area of Lubbock County.

• CAP approach

  CAP return

  Valuation

  6%

  $623,512

  6.5%

  $575,550

  7%

  $534,439

• Comparable approach

  Method

  Valuation

  Relative Method

  $642,774

  Geo Method

  $866,867

• Alternative Use

  Use

  Valuation

  Residential

  $485,498

  Hospitality

  $444,713

  Educational

  $369,996

  Medical

  $382,721

  Retail

  $575,550

Location Insight

City

Lubbock

County

Lubbock

State

Texas

Latitude

33.5305

Longitude

-101.872

CBSA code

31180

CBSA name

LUBBOCK, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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