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    62-82 Frontage Wolfforth, TX 79382
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    62-82 Frontage Wolfforth, TX 79382

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    Value Estimations
    Cap Rate Potential
    Location Intelligence

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    • Land

    Property Details for 62-82 Frontage

    Property type
    Land

    Description

    This 1.45-acre commercial lot is strategically located on Hwy 62-82 frontage in Wolfforth, Texas (zip code 79382), Lubbock County. Priced at $568,458 ($392,040/acre), this property boasts excellent visibility, capturing southwest traffic flow from the Permian Basin, West Texas, and Eastern New Mexico. Its Transitional zoning permits a variety of uses, making it suitable for warehouse, showroom, or industrial development. The site benefits from existing utilities and enjoys a prime location near major businesses. Nearby national companies include American Tire Distributors, PoolCorp, Holiday Inn, Sonic, Stripes, and the under-construction Covenant Hospital. Patel Drive provides convenient access to Alcove Ave and 87th Street in Lubbock, enhancing connectivity and accessibility. This exceptional location offers significant potential for businesses seeking high visibility and convenient access to major transportation routes. The property is ready for development, presenting a unique opportunity for investors and businesses alike.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Wolfforth
    County
    Lubbock
    State
    Texas
    Longitude
    -102.023
    Latitude
    33.4998

    Comparable in this City

    • Value Estimation by Request
      1.89 Acres

      7100 Alcove Ave

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      24.00 Acres

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      Land • 24.00 Acres
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      9.79 Acres

      9410 Fm 1585

      Land • 9.79 Acres
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      24.98 Acres

      6602 Fm 179

      Land • 24.98 Acres
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    • Value Estimation by Request
      3.45 Acres

      1500 Dowden Rd

      Land • 3.45 Acres
      1500 Dowden Rd, Wolfforth, TX 79382
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    • Value Estimation by Request
      6.00 Acres

      13105 Fm 179

      Land • 6.00 Acres
      13105 Fm 179, Wolfforth, TX 79382
      View Details

    Similar Nearby for Sale

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      Land Available in Wolfforth, TX

      Land for sale at 12034 S. CR 1300 and FM 1585.
      12034 And Fm 1585, Wolfforth, TX 79382
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      Land For Sale Wolforth, TX

      Land available for purchase in Wolforth, Texas.
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      49 Acres Multifamily Development Tract

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      Wolfforth Land For Sale

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      12034 And Fm 1585, Wolfforth, TX 79382
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      140+ Acres Development Opportunity

      Development prospect in growing Lubbock County, near Frenship ISD.
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    Similar Nearby for Lease

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      Wolfforth Land For Sale

      Land available one block north of Loop 88.
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      Retail Space for Lease

      Retail space available for lease in Wolfforth, Texas.
      508 5Th St, Wolfforth, TX 79382
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    • $12 SF/Yr

      Office/Warehouse Space on Fenced Lot

      5,000 SF office/warehouse on one-acre fenced lot for lease.
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      Fenced Warehouse with Enclosed Yard

      Warehouse with office, shop, enclosed yard, and secure access.
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      Office/Warehouse with Fenced Yard

      5,000 SF office/warehouse with fenced yard for lease.
      9316 Fm 1585, Wolfforth, TX 79382
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    • $4,500 /Mo
      4,718 SF

      Wolfforth Warehouse Space Available

      4,718 SF warehouse space for lease in Wolfforth, Texas.
      8312 98Th St, Wolfforth, TX 79382
      View Details
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    Wolfforth, TX 79382
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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
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    62-82 Frontage, Wolfforth, TX, 79382
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