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    407 M.l. King Jr. Blvd Lubbock, TX 79403

    Sponsored
    For Sale
    $200,000

    Three-unit office building, excellent location.

    Property size:
    6,864 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a three-unit executive office building located at 407 M.L.K. Jr. Boulevard in Lubbock, Texas, 79403. The property, situated on a 19,561 square foot lot (APN R83112), boasts a total building size of 6,864 square feet and features three units, each offering 2,288 square feet of net rentable space. An additional 1,620 square feet is designated as a rentable "fun-house," adding versatility to the property's income potential. Built in 1964, the building is zoned C4 and benefits from convenient access to MLK Boulevard, Parkway, and 5th Street. One unit is currently leased as a garage, another was previously a barbershop, and a third unit offers nicely finished-out office space. This property presents a unique blend of existing income and potential for further development or lease customization, making it an attractive investment in a thriving Lubbock location. The asking price is $200,000.

    Property Features for 407 M.l. King Jr. Blvd

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    6,864 SF

    Building Details

    Year Built
    1964
    Units
    3

    HighLights

    • Three 2,288 SF units plus a 1,620 SF rentable space.
    • Excellent access to MLK Blvd, Parkway, and 5th Street.
    • One unit currently leased as a garage.
    • One unit previously a barbershop.
    • One unit features nicely finished office space.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Lubbock
    County
    Lubbock
    State
    Texas
    Longitude
    -101.8178599
    Latitude
    33.5914547

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    FAQs

    What type of property is this?
    Office Property / Space - Three-unit office building, excellent location.
    Where is this office property / space located?
    The property is located at 407 M.l. King Jr. Blvd Lubbock, TX.
    What is the asking price?
    The asking price for this property is $200,000.
    What are key features of this property?
    This property features: Three 2,288 SF units plus a 1,620 SF rentable space.; Excellent access to MLK Blvd, Parkway, and 5th Street.; One unit currently leased as a garage.
    Request Owner's contact information
    407 M.l. King Jr. Blvd Lubbock, TX 79403
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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
    407 M.l. King Jr. Blvd Lubbock, TX 79403
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