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    2402 52Nd St Lubbock, TX 79412

    For Sale
    $725,000

    Executive Suites, Central Lubbock Location

    Property size:
    15,600 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    Community Plaza, located at 2402 52nd St, Lubbock, TX 79412, presents a unique investment opportunity. This single-story, 15,600 square foot Class C office building, built in 1980 and renovated in 1998, sits on a 71,542 square foot lot. The property boasts 15 self-contained office spaces, each featuring private entrances, restrooms, and HVAC systems. The building offers 56 surface parking spaces, including two handicap-accessible spots. The property benefits from a central Lubbock location, just one block east of the university, ensuring convenient access and high visibility. The building features an 8-foot ceiling height, stucco exterior over cement block construction, and a gable roof. Utilities include municipal water and sewer services, and high-speed fiber optic internet access is available. The property is zoned AM (Apartment Medical) and includes a cell tower land lease on the northwest corner, adding a significant revenue stream. The asking price is $725,000, representing a price per unit of $43.27. The average occupancy rate is 80%. The lot dimensions are approximately 224 feet of frontage and 332 feet in depth. This property is ideal for an investor seeking a stable, income-producing asset in a desirable Lubbock location.

    Property Features for 2402 52Nd St

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    15,600 SF
    Class
    C

    Building Details

    Year Built/Renovated
    1980/1998
    Buildings
    1
    Stories
    1

    HighLights

    • 8‑foot ceilings.
    • 80% average occupancy rate.
    • Gable roof.
    • Stucco exterior over cement block construction.
    • 56 surface parking spaces, including 2 handicap‑accessible spaces.
    • Central heating, electricity.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Joiner Greg w ... Psychologist Community Options Inc. Disability Services And Support Organization Keel Shaun H ... Psychologist Washington Inventory Services Corporate Office D.A Clift & Associates Business Center

    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
    -101.86879775968
    Latitude
    33.546935153785

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    FAQs

    What type of property is this?
    Office Property / Space - Executive Suites, Central Lubbock Location
    Where is this office property / space located?
    The property is located at 2402 52Nd St Lubbock, TX.
    What is the asking price?
    The asking price for this property is $725,000.
    What are key features of this property?
    This property features: 8-foot ceilings.; 80% average occupancy rate.; Gable roof.
    Request Owner's contact information
    2402 52Nd St Lubbock, TX 79412
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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
    2402 52Nd St Lubbock, TX 79412
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