Add Listing
    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

    15102 University Ave Lubbock, TX 79423

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    8 Acres, University Ave Frontage

    Property Features for 15102 University Ave

    General Information

    Property type
    Land
    Lot Size
    348,480 SF

    We can help!

    Listing Contact
    Scott Womack
    Scott Womack

    Listing Agency: Coldwell Banker Commercial Capital Advisors Listing Agent: Scott Womack

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

    Learn more

    Overview

    This exceptional 8-acre commercial land parcel in Lubbock, Texas, offers a prime development opportunity. Situated on University Avenue at the entrance to The Reserve at Dunn Mill, this property is zoned Transitional and presents itself as two four-acre tracts, easily subdivided into one-acre lots. Each acre is priced at $6.50 per square foot. The site boasts convenient utility access, although septic systems will be required for any development. This location benefits from its placement within the highly sought-after Lubbock Cooper Independent School District (LCISD), which is slated to open its sixth elementary school in 2028, just east of University Avenue. The surrounding area is experiencing rapid growth, with established residential communities like Allen Farms, Bell Farms, Timber Ridge, Cooper Ranch, Indiana South, Kelsey Park, and Viridian nearby. This strategic location and the potential for retail, office, or commercial development make this an exceptional investment opportunity in a thriving South Lubbock market. The property's address is 15102 University Ave, Lubbock, TX 79423, and is located in Lubbock County. The asking price for the entire 8-acre parcel is $1,742,400.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Hair Salon Auto Repair Shop Hotel & Motel Auto Parts Store 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
    -101.8709306
    Latitude
    33.4568833

    Nearby Similar for Sale

    • $599,000
      6,211 SF

      Versatile Commercial Space in Lubbock

      Combined 6,211 SF commercial space ideal for diverse business uses.
      2301 122Nd St, Lubbock, TX 79423
      View Details
    • $999,500
      8,194 SF

      Lubbock Office Duplex For Sale

      Office duplex ideal for owner-user or investment with income potential.
      3402 110Th St, Lubbock, TX 79423
      View Details
    • $550,000
      6,395 SF

      Versatile Commercial Property in Lubbock

      Two commercial properties with flexible use and strong visibility.
      4905 Memphis Ave, Lubbock, TX 79413
      View Details
    • $549,000
      4,400 SF

      Office with Warehouse and Yard

      Office, warehouse, and stack yard with secured gated access.
      201 Loop 289 NE, Lubbock, TX 79403
      View Details
    • $795,000
      10,980 SF

      Lubbock Warehouse-Office with Crane

      High-quality warehouse-office space with overhead crane in central Lubbock.
      4212 Martin L King Blvd, Lubbock, TX 79404
      View Details
    • $792,000
      7,200 SF

      Versatile New Construction Industrial Property

      Industrial property with office space and secure outdoor storage.
      10710 County Road 2500, Lubbock, TX 79404
      View Details
    • New
      $999,950
      9,300 SF

      9,300 SF Commercial Building

      9,300 SF metal building on 0.88 acres for sale.
      11607 Highway 87, Lubbock, TX 79423
      View Details
    • $1,103,000
      3,869 SF

      New Smart Garden Office Building

      New construction office building suitable for various professional uses.
      3204 140Th St, Lubbock, TX 79423
      View Details
    • $480,000
      2,135 SF

      Lubbock Medical Office Opportunity

      Well-maintained medical office in Central Lubbock, ideal for healthcare.
      3508 22Nd Pl, Lubbock, TX 79410
      View Details
    • $600,000
      7,518 SF

      Mixed-Use Property in Lubbock, TX

      Well-maintained mixed-use property with office and industrial space.
      5102-5106 Avenue T, Lubbock, TX 79412
      View Details
    • $450,000
      3.13 Acres

      Lubbock Industrial Warehouse Facility

      Versatile industrial warehouse in a highly visible Lubbock location.
      4401 Avenue A, Lubbock, TX 79404
      View Details
    • $2,499,999
      14,043 SF

      Lubbock Commercial Opportunity on Upland

      Prime commercial property in a rapidly growing Lubbock corridor.
      8312 Upland Ave, Lubbock, TX 79424
      View Details

    FAQs

    What type of property is this?
    Land - 8 Acres, University Ave Frontage
    Where is this land located?
    The property is located at 15102 University Ave Lubbock, TX.
    What is the asking price?
    The asking price for this property is $1,742,400.
    What are key features of this property?
    This property features: 8-acre commercial land parcel in Lubbock, TX, zoned Transitional, easily subdivided into one-acre lots.; Each acre priced at $6.50 per square foot, totaling $1,742,400 for the entire parcel.; Utilities readily accessible; septic systems required for development.
    (806) 784-3265 Call to check price and availability
    Request Owner's contact information
    15102 University Ave Lubbock, TX 79423
    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.
    15102 University Ave
    Lubbock, TX 79423
    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
    15102 University Ave Lubbock, TX 79423
    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!
    Contact for Pricing
    Please call us for current price
    and status of this listing Scott Womack
    Scott Womack
    Real Estate License ID: 437816
    (806) 784-3265 (806) 535-0888 (806) 793-0888
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!