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Shops at 2429 2429 34th St 3,360 SF 100% Leased Retail Building Lubbock, TX 79411 $399,000 ($118.75/SF) 10.06% Cap Rate
Investment Highlights
- Heavy daytime traffic with a large commercial environment surrounded by residential properties
- Recently fully remodeled in 2025
- Located right off the busy signalized corner on 34th and University - around 1 mile from Texas Tech
Executive Summary
Two-unit Shopping Center featuring 100% occupancy
PRICED: $399,000
Building Size: 3,360 SF
Land Size: 6,048 SF
Current NOI: $40,132.16 (currently stabilized at 100% occupied)
CAP Rate: 10.06% (2025 actuals); 10.12% (2026 estimated)
We are thrilled to present a new investment property, featuring 100% occupancy. Located on Lubbock’s popular 34th street, this two-unit center is located close to Lubbock ISD schools, residential communities, multi-family apartments, and numerous commercial enterprises.
Vehicles-per-day: 22,356 (TXDOT 2022)
PRICED: $399,000
Building Size: 3,360 SF
Land Size: 6,048 SF
Current NOI: $40,132.16 (currently stabilized at 100% occupied)
CAP Rate: 10.06% (2025 actuals); 10.12% (2026 estimated)
We are thrilled to present a new investment property, featuring 100% occupancy. Located on Lubbock’s popular 34th street, this two-unit center is located close to Lubbock ISD schools, residential communities, multi-family apartments, and numerous commercial enterprises.
Vehicles-per-day: 22,356 (TXDOT 2022)
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$42,999
|
$12.80
|
| Other Income |
$4,961
|
$1.48
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$47,960
|
$14.27
|
| Taxes |
$1,335
|
$0.40
|
| Operating Expenses |
$6,493
|
$1.93
|
| Total Expenses |
$7,828
|
$2.33
|
| Net Operating Income |
$40,132
|
$11.94
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $42,999 |
| Annual Per SF | $12.80 |
| Other Income | |
|---|---|
| Annual | $4,961 |
| Annual Per SF | $1.48 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $47,960 |
| Annual Per SF | $14.27 |
| Taxes | |
|---|---|
| Annual | $1,335 |
| Annual Per SF | $0.40 |
| Operating Expenses | |
|---|---|
| Annual | $6,493 |
| Annual Per SF | $1.93 |
| Total Expenses | |
|---|---|
| Annual | $7,828 |
| Annual Per SF | $2.33 |
| Net Operating Income | |
|---|---|
| Annual | $40,132 |
| Annual Per SF | $11.94 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
3,360 SF
Building Class
C
Year Built/Renovated
1951/2025
Price
$399,000
Price Per SF
$118.75
Cap Rate
10.06%
NOI
$40,132
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.56
Lot Size
0.14 AC
Parking
10 Spaces (2.98 Spaces per 1,000 SF Leased)
Frontage
119’ on 34th St
Amenities
- Signage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Gold Exchange, The
- Mining, Quarrying, and Oil and Gas Extraction
- -
- -
- -
-
- Information
- -
- -
- -
TracFone Wireless began in 1996 as Topp Telecom and later grew into a prepaid mobile provider serving value-conscious customers. The company now operates under Verizon ownership and offers no-contract wireless service, smartphones, and plan support for talk, text, data, and device activation. TracFone also supports Lifeline service and other prepaid offerings across multiple brand families, with much of the service delivered on Verizon's network. The business has remained focused on affordable mobile access while keeping the TracFone brand in the market.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Gold Exchange, The | Mining, Quarrying, and Oil and Gas Extraction | - | - | - | ||
|
|
Information | - | - | - |
Moderately walkable
60/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | R67348 | Total Assessment | $75,451 |
| Land Assessment | $15,120 | Annual Taxes | $1,335 ($0.40/SF) |
| Improvements Assessment | $60,331 | Tax Year | 2025 |
Property Taxes
Parcel Number
R67348
Land Assessment
$15,120
Improvements Assessment
$60,331
Total Assessment
$75,451
Annual Taxes
$1,335 ($0.40/SF)
Tax Year
2025
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Shops at 2429 | 2429 34th St