7100 Alcove Ave Wolfforth, TX 79382
This 1.89-acre lot in Wolfforth, Texas, presents a unique opportunity for developers. Situated southwest of Lubbock, this rectangular parcel boasts two street frontages and enjoys a highly desirable location between a recently constructed 117-unit apartment complex (The Reserves at Preston Trails, built 2017) and newer duplexes (built 2020 and later). The strong rental market in this area makes this property particularly attractive for income-generating projects. The land is exceptionally level, free of trees and flood concerns, and has no known unusual easements. It's zoned PD, permitting multi-family development (MF), making it ideal for a small infill apartment complex or a similar neighborhood-serving development, such as a church. All city utilities are readily available, simplifying the development process. The property's size and location, combined with its favorable zoning and lack of encumbrances, offer significant potential for a variety of profitable ventures. This is a rare opportunity to acquire a well-situated, ready-to-develop parcel in a thriving Texas community. The asking price is $250,000.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.