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    3201 Loop 289 Lubbock, TX 79423

    For Sale
    $4,500,000

    8.5 Acres, South Loop 289

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This exceptional 8.583-acre commercial land parcel is situated on South Loop 289 in Lubbock, Texas, offering unparalleled development potential. Zoned MDR, this property boasts a prime location between Indiana Avenue and University Avenue, providing excellent visibility and accessibility. Nearby established businesses include Target, Wendy's, McDonald's, Pyramid Office Plaza, Pollard Ford, and Gene Messer Volkswagen, indicating a strong commercial presence in the immediate area. The site also overlooks an attractive playa lake, adding to its aesthetic appeal. This location benefits from its proximity to Texas Tech University, Covenant Health systems, and South Plains Mall, ensuring a large and diverse customer base. The property is less than 10 minutes from these key locations and dozens of other retailers, making it an ideal site for a variety of commercial developments. The land is divisible, offering flexibility for various project sizes. The asking price is $4,500,000, translating to approximately $522,720 per acre. The lease expires December 31, 2024, with minimal remaining lease term. This is a rare opportunity to acquire prime commercial land in a rapidly growing area of Lubbock. Contact us for further details and to explore the possibilities this exceptional property presents.

    Property Features for 3201 Loop 289

    General Information

    Property type
    Land
    Lot Size
    373,875 SF

    HighLights

    • $4,500,000 asking price for 8.58 acres of commercial land.
    • Located at 3201 S Loop 289, Lubbock, TX 79423, in Lubbock County.
    • Zoned MDR.
    • Land value: $522,720/acre.
    • Prime commercial development land on South Loop 289, divisible.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    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
    -101.88241692975
    Latitude
    33.529026922792

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    FAQs

    What type of property is this?
    Land - 8.5 Acres, South Loop 289
    Where is this land located?
    The property is located at 3201 Loop 289 Lubbock, TX.
    What is the asking price?
    The asking price for this property is $4,500,000.
    What are key features of this property?
    This property features: $4,500,000 asking price for 8.58 acres of commercial land.; Located at 3201 S Loop 289, Lubbock, TX 79423, in Lubbock County.; Zoned MDR.
    (806) 777-1310
    Request Owner's contact information
    3201 Loop 289 Lubbock, TX 79423
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    Lubbock, TX 79423
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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
    3201 Loop 289 Lubbock, TX 79423
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