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    503 University Ave Lubbock, TX 79415

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    7.27 Acres, Interstate Highway Commercial Zoning

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 7.27-acre commercial property is situated at the southeast corner of Kent Avenue and University Avenue in Lubbock, Texas, zip code 79415. The land boasts Interstate Highway Commercial zoning, offering unparalleled flexibility for a variety of development opportunities. A comprehensive master plan has already been designed, envisioning a mixed-use development including retail centers, gas station parcels, office warehouse spaces, motel tracts, and garden office buildings. The property's strategic location just north of the soon-to-be-constructed Expo Arena (projected completion within 36 months) presents a significant advantage, capitalizing on the anticipated increased foot traffic and economic activity generated by major events such as rodeos, stock shows, concerts, and other dirt-related sports. While a majority of the surrounding area is residential, the property's zoning allows for diverse development options, including the potential for barndominiums and an RV park, in addition to the warehouse and commercial spaces outlined in the master plan. This prime location and versatile zoning make this a truly unique investment opportunity in a rapidly growing area of Lubbock. The property's coordinates are 33.6048117 latitude and -101.8713095 longitude. This is a rare chance to acquire a large tract of land with significant development potential in a high-demand location.

    Property Features for 503 University Ave

    General Information

    Property type
    Multifamily properties

    HighLights

    • 7.27‑acre commercial lot at the southeast corner of Kent Ave & University Ave, Lubbock, TX 79415.
    • I‑H Commercial zoning allows for diverse development.
    • Master plan includes retail, gas station, office/warehouse, motel, and garden office space.
    • Prime location near the future Expo Arena (completion within 3 years) offers high growth potential.
    • Zoning permits various uses, including barndominiums and an RV park.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Lubbock
    County
    Lubbock
    State
    Texas
    Longitude
    -101.8713095
    Latitude
    33.6048117

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    FAQs

    What type of property is this?
    Multifamily property - 7.27 Acres, Interstate Highway Commercial Zoning
    Where is this multifamily property located?
    The property is located at 503 University Ave Lubbock, TX.
    What are key features of this property?
    This property features: 7.27-acre commercial lot at the southeast corner of Kent Ave & University Ave, Lubbock, TX 79415.; I-H Commercial zoning allows for diverse development.; Master plan includes retail, gas station, office/warehouse, motel, and garden office space.
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    Realmo Value Estimation

    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.

    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.

    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
    503 University Ave Lubbock, TX 79415
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