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    5302 Avenue Q Lubbock, TX 79412

    Sponsored
    For Lease
    Contact for pricing

    Prime Lubbock County Commercial Land

    Lot size:
    58,806 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    404
    This exceptional opportunity presents three one-acre pad sites within the established Briercroft Center in Lubbock County. Located in a thriving neighborhood shopping center, these sites boast excellent visibility and high traffic counts, benefiting from strong co-tenancy with prominent businesses such as Family Dollar and the proximity to Premier High School. The property's strategic location ensures significant exposure to a substantial customer base. Each pad site offers approximately one acre of land, ideal for a variety of commercial uses. The potential for build-to-suit options provides flexibility for developers seeking to tailor the space to their specific needs. This is a particularly attractive proposition for quick-service restaurants (QSRs) and drive-thru beverage establishments, given the high visibility and convenient access. The sites are zoned for commercial use and are ready for immediate development. This presents a rare chance to secure a prime location in a well-established and successful shopping center, offering significant potential for long-term growth and return on investment. The property is situated in Lubbock County, Texas, providing access to a robust local economy and a large consumer market. Interested parties are encouraged to inquire for detailed site plans and development specifications. This is a unique opportunity to establish a presence in a high-traffic, high-visibility location within a successful retail center.

    Property Features for 5302 Avenue Q

    General Information

    Property type
    Land
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    58,806 SF

    Unit(s) available at that property

    Space
    Size
    58,806 SF

    We can help!

    Listing Contact
    Shannon Powell
    Shannon Powell

    Learn more

    Property Insight Report

    HighLights

    • Briercroft Center is a well‑established neighborhood shopping center with high traffic and visibility.
    • Three pad sites are available, ranging from 1 acre each, with potential build‑to‑suit options.
    • Ideal for quick‑service restaurants (QSR) and drive‑thru beverage businesses.
    • Strong co‑tenancy includes Family Dollar and proximity to Premier High School.
    Property Profile Location Intelligence

    Current Use by Public Records

    Family Dollar Dollar Store Briercroft Center Business Center Briercroft Laundry Laundromat Concrete Rose Event ... Event Venue Tower Loan Loan Agency

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Lubbock
    County
    Lubbock
    State
    Texas
    Longitude
    -101.85420330192
    Latitude
    33.546703555897

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    FAQs

    What type of property is this?
    Land - Prime Lubbock County Commercial Land
    Where is this land located?
    The property is located at 5302 Avenue Q Lubbock, TX.
    What are key features of this property?
    This property features: Briercroft Center is a well-established neighborhood shopping center with high traffic and visibility.; Three pad sites are available, ranging from 1 acre each, with potential build-to-suit options.; Ideal for quick-service restaurants (QSR) and drive-thru beverage businesses.
    Request Owner's contact information
    5302 Avenue Q Lubbock, TX 79412
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    Lubbock, TX 79412
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    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
    5302 Avenue Q Lubbock, TX 79412
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    We can help!
    Listing Contact
    Shannon Powell
    Shannon Powell
    Real Estate License ID: 767517
    Learn more
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