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    The Largest CRE Database in the US with Over 1 Million Listings

    5202 82Nd St Lubbock, TX 79424

    Sponsored
    For Sale
    $2,158,000

    High-yield NNN medical investment.

    Property size:
    6,630 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    411
    This exceptional Class A, 6,630 square foot medical office building presents a compelling NNN investment opportunity in the rapidly growing southwest sector of Lubbock, Texas. Located at 5202 82nd St, Lubbock, TX 79424, this single-tenant property boasts 100% occupancy with a new seven-year lease in place with Covenant Medical Center, a subsidiary of Providence Healthcare, the 7th largest health system in the US by net patient revenue. The building, constructed in 2015, sits on a 22,500 square foot lot and features a comprehensive layout designed for medical use, including four emergency suites, four exam suites, a nurse's station, secure medication storage, laboratory and X-ray/CT suites, and ample storage. Additional amenities include a Kohler natural gas emergency generator and a convenient location with high visibility on a major thoroughfare experiencing approximately 33,000 vehicles per day, surrounded by complementary retail and commercial establishments. The property benefits from a 30-year remaining land lease and offers a strong 8.00% cap rate with a net operating income (NOI) of $1,742,994 and an asking price of $2,158,000 ($325.49/sq ft). The versatile design allows for various medical uses, such as urgent care, outpatient surgery, physical therapy, or chemotherapy treatment. This investment offers a secure, high-return opportunity in a thriving market. The permitted zoning is AC.

    Property Features for 5202 82Nd St

    General Information

    Property type
    Medical offices
    Square Feet
    6,630 SF
    Class
    A

    Building Details

    Year Built
    2015
    Buildings
    1
    Stories
    1

    We can help!

    Listing Contact
    David Powell
    David Powell

    Learn more

    Property Insight Report

    HighLights

    • High‑traffic corner location at major intersection.
    • New 7‑year lease in place.
    • Located in Lubbock's rapidly developing southwest submarket.
    • Creditworthy national tenant.
    Property Profile Location Intelligence

    Current Use by Public Records

    Western Union Money Transfer Service Celeste Xochitl Twelves ... Pediatrician Jake Westerberg Pediatrician Covenant Children's Urgent ... Urgent Care Center Celeste Caballero, MD Pediatrician

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Lubbock
    County
    Lubbock
    State
    Texas
    Longitude
    -101.92268748225
    Latitude
    33.520186970104

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    FAQs

    What type of property is this?
    Medical office - High-yield NNN medical investment.
    Where is this medical office located?
    The property is located at 5202 82Nd St Lubbock, TX.
    What is the asking price?
    The asking price for this property is $2,158,000.
    What are key features of this property?
    This property features: High-traffic corner location at major intersection.; New 7-year lease in place.; Located in Lubbock's rapidly developing southwest submarket.
    Request Owner's contact information
    5202 82Nd St Lubbock, TX 79424
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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
    5202 82Nd St Lubbock, TX 79424
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    We can help!
    Listing Contact
    David Powell
    David Powell
    Real Estate License ID: TX 257988
    Learn more
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