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Property profile & analytics
OFF-MARKET
Estimated value
$16,585,000
Distribution centers
1104 Lubbock Business Park Blvd Lubbock, TX 79403-1836
Entity Owned
5-yr Hold
Free & Clear
Property ID
US82-0000882
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
2019
Total area
160,000 SF
Lot
10.9 ac (474,844 SF)
APN
R333466
UPID
US82-0000882
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Lubbock Logistics Center Warehouse & Storage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$15.15M
Blend (final)
Blend
$16.59M
Owner & transaction history
1104 Real Estate Holdings LLC · 5 yrs held
1104 Real Estate Holdings LLC
since 2020
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$19.3M
+116.9%
Restaurant
$17.2M
+93.2%
Auto repair, garage
$14.1M
+58.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Lubbock submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lubbock submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$19,315,000
Change: +117% · Conversion: Difficult
RESTAURANT
$17,205,000
Change: +93% · Conversion: Difficult
AUTO REPAIR, GARAGE
$14,080,000
Change: +58% · Conversion: Easy
OFFICE BUILDING
$10,515,000
Change: +18% · Conversion: Difficult
RETAIL STORES
$10,180,000
Change: +14% · Conversion: Moderate
Blend value · Realmo final
$16.59M
Range $14.93M – $18.24M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$104 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$223,060
Tax year 2023
Assessed value
$12,100,000
Assessed 2024
Previous assessed
$12,100,000
+0.0% YoY
Effective rate
1.84%
On assessed value
Assessed land
$474,844
Assessed improvement
$11,625,156
Land market value
$474,844
Improvement market value
$11,625,156
Total market value
$12,100,000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
2019
Heating
NONE
Total area
160,000 SF
Lot
10.9 ac (474,844 SF)
APN
R333466
UPID
US82-0000882
Jurisdiction
LUBBOCK
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$19.3M
RESTAURANT
Est. value
$17.2M
AUTO REPAIR, GARAGE
Est. value
$14.1M
OFFICE BUILDING
Est. value
$10.5M
RETAIL STORES
Est. value
$10.2M
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
OFFICE BUILDING
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2019
Heating
NONE
Lot
10.9 ac
Current owner
From public records · entity-resolved
1104 Real Estate Holdings LLC
Entity
Free & Clear · 5 yrs held
Mailing address
1104 LUBBOCK BUSINESS PARK BLVD, LUBBOCK, TX 79403-1836
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 17, 2020
—
1104 Real Estate Holdings LLC
Bvlbp1 LP
Grant Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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