Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    15104 University Ave Lubbock, TX 79423

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    15104 University Ave Lubbock, TX 79423

    View on Map
    • Land
    • 10.30 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 15104 University Ave

    Lot size
    10.30 lot acres
    Property type
    Land

    Description

    This exceptional investment opportunity presents 28 ready-to-build residential lots in Lubbock, Texas, within the highly sought-after Lubbock Cooper Independent School District (LCISD). Priced at $4,245,500, this package offers significant potential for immediate development. The property includes two additional tracts of land, one measuring 10.3 acres and another spanning 43.3 acres, both zoned SF-2 Low Density Single Family Residential. Pre-platting and engineering work is already complete for these larger tracts, streamlining the development process. Utilities are conveniently located nearby, although septic systems will be required. The development benefits from its proximity to existing successful residential subdivisions such as Allen Farms, Bell Farms, Timber Ridge, Cooper Ranch, Indiana South, Kelsey Park, and Viridian. Furthermore, the planned opening of LCISD's sixth elementary school in 2028, situated just east of University Avenue on 152nd Street, will further enhance the desirability and value of this location. This is a rare chance to acquire a substantial land holding in a rapidly growing area, poised for significant returns. The address is 15104 University Ave, Lubbock, TX 79423. Each residential lot is approximately half an acre.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Lubbock
    County
    Lubbock
    State
    Texas
    Longitude
    -101.871
    Latitude
    33.4569

    Comparable in this City

    • Value Estimation by Request
      1.55 Acres

      1620-1672 82Nd St

      Land • 1.55 Acres
      1620-1672 82Nd St, Lubbock, TX 79423
      View Details
    • Value Estimation by Request

      2002 98Th St

      Land
      2002 98Th St, Lubbock, TX 79423
      View Details
    • Value Estimation by Request
      10.75 Acres

      130 130Th St

      Land • 10.75 Acres
      130 130Th St, Lubbock, TX 79423
      View Details
    • Value Estimation by Request
      3.82 Acres

      1953 82Nd St

      Multifamily properties • 3.82 Acres
      1953 82Nd St, Lubbock, TX 79423
      View Details
    • Value Estimation by Request
      3.16 Acres

      1617 82Nd St

      Land • 3.16 Acres
      1617 82Nd St, Lubbock, TX 79423
      View Details
    • Value Estimation by Request
      3.60 Acres

      14202 Indiana Ave

      Land • 3.60 Acres
      14202 Indiana Ave, Lubbock, TX 79423
      View Details

    Similar Nearby for Sale

    • $975,000
      5.00 Acres

      Lubbock Land with RV Spots

      5 acres with house, metal building, and RV spots.
      406 Fm 1585, Lubbock, TX 79423
      View Details
    • $65,000
      1.00 Acre

      Lubbock, TX Acreage Available

      One-acre lots in Sterling Ranch, Cooper ISD, no city taxes.
      2016 County Road 7820, Lubbock, TX 79423
      View Details
    • Contact for pricing

      Woodrow Road Development Land

      3.929 acres on Woodrow Road, near Loop 88.
      3510 Woodrow Rd, Lubbock, TX 79423
      View Details
    • $300,000
      7.91 Acres

      Unrestricted Land Near Highway

      7.91 acres of unrestricted land near Highway 84.
      122Nd St, Lubbock, TX 79423
      View Details
    • Contact for pricing

      Lubbock Land For Sale

      Land available for sale in Lubbock, Texas.
      3220 114Th St, Lubbock, TX 79423
      View Details
    • Contact for pricing

      Lubbock Land for Sale

      2.5 acres of land available in Lubbock, Texas.
      9809 University Ave, Lubbock, TX 79423
      View Details

    Similar Nearby for Lease

    • $1.00 SF/Yr
      1 SF

      Loop 88 Commercial Land Opportunity

      Prime 1-acre lot, ideal commercial development.
      0 Lubbock Tx, Lubbock, TX 79423
      View Details
    • Contact for pricing

      Commercial Land in Growing Area

      Land available for ground lease, build-to-suit, or purchase.
      122 122Nd St, Lubbock, TX 79423
      View Details
    • Contact for pricing

      Commercial Site on High-Traffic Corner

      1.457-acre commercial site for ground lease or build-to-suit.
      9700 Indiana Ave, Lubbock, TX 79423
      View Details
    • Contact for pricing

      Prime Commercial Lots for Lease

      Corner commercial lots suitable for retail, restaurant, and QSR.
      114th St & Indiana Ave, Lubbock, TX 79423
      View Details
    • Contact for pricing

      Corner Land Parcel For Lease

      Land parcel at prominent intersection in a growing area.
      130Th St, Lubbock, TX 79423
      View Details
    • Contact for pricing

      Prime Pad Site Redevelopment Opportunity

      High-traffic location at 82nd & University intersection.
      2514 82Nd St, Lubbock, TX 79423
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    15104 University Ave
    Lubbock, TX 79423
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry

    15104 University Ave, Lubbock, TX, 79423

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!