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Published on: Thursday, July 17, 2025
Updated on: Thursday, July 17, 2025
About the Lister
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Name: Brandon Robinson
Company: Calvary Realty
Office Phone: (909)380-0073
Cell Phone: (760)534-8135
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  Smart Drop Self Storage

2002 Avenue S Lubbock Texas , 79411
2002 Avenue S Lubbock Texas , 79411  Calvary Realty
Listing ID: CL-Texas-25920 Warehouse/Industrial

Purchase Option

Acquisition Option: Traditional Purchase
Cap Rate (%): 12.05
Net Operating Income: $18,078.00
Quick Glance
Listing ID: CL-Texas-25920
Status: Accepting Offers
Financing: Third Party Financing
Occupancy: 11%
Year Build: 1976
Building Size: 7,480.00 SqFt
Lot Size: N/A
No of Stories: 1
No of Parking: N/A
Offer to Millionaire Club: No
Business Available for Sale: No
Is Net Lease Investment: Yes
Property On Ground Lease: No
Building Status: Existing
Listing Summary
Calvary Realty is pleased to present Smart Drop Self Storage, a strategic investment property located at 2002 Avenue S in the rapidly growing city of Lubbock, Texas.
Complete Details
Year Build: 1976
Building Size: 7,480 SqFt.
No of Stories: 1
Total Lot Area: N/A SqFt.
No of Parking: N/A
No of Total Units: N/A
Property Current Status: Normal Sale
Building Status: Existing
Heating and Cooling: Not Specified
Building Class: C
Property on Ground Lease?: No
Net Lease Investment?: Yes
Business Price Included?: No
Roofing: Not Specified
Occupancy: 11%
Full Description

John 14:6: Jesus declared, "I am the path, the reality, and the vitality. No one reaches the Father except through me."

Investment Alert: Smart Drop Self Storage in Lubbock, TX

Calvary Realty proudly presents Smart Drop Self Storage, an exceptional investment opportunity at 2002 Avenue S in Lubbock, Texas. This strategically located facility, just one mile from Texas Tech University within a metro area of over 360,000, is primed for high demand.

Priced at just $150,000 as a foreclosure sale, this 7,480-square-foot facility offers 44 units and an enticing proforma cap rate of 12%. Built in 1976 and expanded in 1985 on 0.31 acres, it boasts gated access, lighting, and Easy Storage management software. Despite its current 11% occupancy, this property represents significant value-add potential. Stabilizing occupancy could easily drive cap rates into double digits, capitalizing on Lubbock's rapid growth, affordability, and a five-mile population of 180,000 residents. Don't miss this chance to acquire a high-yield asset in a thriving market.

Additional Properties
Property Highlights
  • Distressed Asset With Significant Value Add
  • Recent "As Is" Appraisal of $248K
  • Priced 40% Below Appraised Value
  • 1 Mile East of Texas Tech University
  • 5 Mile Population of 180K+ Residents
  • Strong Population Growth and Density
  • High Stabilized Cap Rate
  • Priced to Sell at Only $20 Per Square Foot
Features
  • Price/Unit: $3,409.09
  • Year Renovated: 1985
  • Zoning: Mini Warehouse
  • Pro-Forma Cap Rate: 27.10%
  • Pro-Forma NOI: $40,650
  • Class D

Lending Opportunities

Interested in making an offer on this property or adding it to your portfolio? Our network of experienced lenders is ready to provide you with competitive loan options tailored to your needs. Whether you're an investor or a first-time buyer, securing financing is the key to turning this opportunity into reality. Don’t wait, reach out now to get pre-approved, explore your loan options, and take the next step with confidence!
Company Name Lender Type Contact Name Contact Number Actions
Easy Home Loans, LLC Mortgage Broker Ana M Gonzalez (786) 525-7126 Request Quote
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Listing Location
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