Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    601 Avenue E Lubbock, TX 79403

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $243,750

    Prime commercial land for development in downtown Lubbock.

    Lot size:
    0.75 Acres

    Property Features for 601 Avenue E

    General Information

    Lot size
    0.75 Acres

    We can help!

    Listing Contact
    Dan Williams
    Dan Williams
    Source: Moodyscre

    Listing Agent: Dan Williams

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Downtown Lubbock Development Opportunity

    This property presents a development opportunity with just over 32,000 square feet of land in Downtown Lubbock. Zoned for heavy commercial use, the district accommodates a variety of commercial developments, offering flexibility for investment or business location. The property is situated at the intersection of Interstate Hwy 27 and Marsha Sharp Freeway, providing visibility and accessibility. As part of the TIF district, the property is eligible for grant funding.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Building Supply Big Box & Wholesale Store Auto Repair Shop Gym & Fitness Center Hotel & Motel Auto Parts Store Department Store Kitchen & Bath Showroom HVAC Service

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lubbock
    County
    Lubbock
    State
    Texas
    Longitude
    -101.851029
    Latitude
    33.612131

    Nearby Similar for Sale

    • $650,000

      Multifamily Investment Near Texas Tech

      Four properties near Texas Tech, ideal for investors or homeowners.
      Package Property, Lubbock, TX 79411
      View Details
    • $700,000
      7,768 SF

      Multifamily Property Near Texas Tech

      Multifamily property near Texas Tech, suitable for students and short-term rentals.
      2123 15Th St, Lubbock, TX 79401
      View Details
    • $333,000
      2,832 SF

      Historic Multifamily Property Near Texas Tech

      Six-bedroom property near Texas Tech, featuring unique historic details.
      2323 20Th St, Lubbock, TX 79411
      View Details
    • $415,000

      Lubbock Income-Generating Multi-Family Property

      Fully leased multi-family property with strong rental history in Lubbock, TX.
      Package Property, Lubbock, TX 79410
      View Details
    • $385,000
      4,868 SF

      Spacious Duplex with Atriums

      Two units, each with private atrium and two-car garage.
      3313 74Th St, Lubbock, TX 79423
      View Details
    • $1,250,000
      7,224 SF

      Updated Commercial Space with Offices

      Move-in ready commercial space featuring private offices and modern amenities.
      10210 Frankford Ave, Lubbock, TX 79424
      View Details
    • $995,000
      6,688 SF

      Well-Maintained 5-Plex Built in 2022

      Built in 2022, five-unit multifamily property near East Elementary.
      2620-2628 136Th St, Lubbock, TX 79423
      View Details
    • $625,000
      4,653 SF

      Multifamily Package Deal in Lubbock

      Three fully leased townhomes with stable cash flow in Lubbock.
      5861 Virginia Ave, Lubbock, TX 79407
      View Details
    • $599,000
      9,300 SF

      Lubbock Church with Redevelopment Potential

      Well-maintained church facility on a large lot in central Lubbock.
      1809 34Th St, Lubbock, TX 79411
      View Details
    • $324,900
      5,364 SF

      Lubbock Quadplex Investment Opportunity

      Four-unit quadplex near Texas Tech, offering stable income potential.
      7405 Avenue X, Lubbock, TX 79423
      View Details
    • $265,500
      2,726 SF

      Updated Duplex Near Texas Tech

      Updated duplex near Texas Tech, ideal for investors or owner-occupants.
      4320 52Nd St, Lubbock, TX 79413
      View Details
    • $850,000
      10,840 SF

      Lubbock Church with Annex Building

      Well-maintained church with annex, apartment, and versatile spaces.
      1601 44Th St, Lubbock, TX 79412
      View Details

    FAQs

    What type of property is this?
    Land - Prime commercial land for development in downtown Lubbock.
    Where is this land located?
    The property is located at 601 Avenue E Lubbock, TX.
    What is the asking price?
    The asking price for this property is $243,750.
    What are key features of this property?
    This property features: - Prime Downtown Lubbock location with over 32,000 sq ft of land.; - Zoned for heavy commercial use, allowing for diverse development options.; - Located at the intersection of Interstate Hwy 27 and Marsha Sharp Freeway, offering exceptional visibility and accessibility.
    (806) 777-1310
    Request Owner's contact information
    601 Avenue E Lubbock, TX 79403
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    601 Avenue E
    Lubbock, TX 79403
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    601 Avenue E Lubbock, TX 79403
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Dan Williams
    Dan Williams
    Real Estate License ID: TX-550528
    (806) 777-1310
    Learn more
    Google sign-in failed. Please try again or use another login method.