Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    120 Insurance St Lubbock, TX 79403-6600
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    120 Insurance St Lubbock, TX 79403-6600

    View on Map
    • Office buildings
    • 19,500 SF
    • 3.06 lot acres
    Off-Market
    Property ID
    US82-3228230
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $2,285,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 120 Insurance St

    Year built
    2019
    Lot size
    3.06 lot acres
    Property size
    19,500 SF
    Property type
    Office buildings
    APN
    R334853
    APU
    R334853

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,098,000
      Market price range: $575k - $2.10M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $2,355,000
      RESTAURANT
      $2,095,000
      AUTO REPAIR, GARAGE
      $1,715,000

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lubbock
    County
    Lubbock
    State
    Texas
    Longitude
    -101.836
    Latitude
    33.6975
    CBSA code
    31180
    CBSA name
    LUBBOCK, TX METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $34,185
    $53,230
    $1,986,081
    $2,039,311
    -
    $53,230
    $1,986,081
    $2,039,311

    Comparable in this City

    • Value Estimation by Request
      1,420 SF

      221 Redbud Ave

      OFFICE BUILDING • 1,420 SF
      221 Redbud Ave, Lubbock, TX 79403-4407
      View Details
    • Value Estimation
      $11,590,000
      105,097 SF

      408 Hunter St

      OFFICE BUILDING • 105,097 SF
      408 Hunter St, Lubbock, TX 79403-1831
      View Details
    • Value Estimation
      $1,670,000
      14,000 SF

      1720 Regis St

      OFFICE BUILDING • 14,000 SF
      1720 Regis St, Lubbock, TX 79403-1211
      View Details
    • Value Estimation
      $1,905,000
      16,500 SF

      1103 Martin Luther King Blvd

      OFFICE BUILDING • 16,500 SF
      1103 Martin Luther King Blvd, Lubbock, TX 79403-5212
      View Details
    • Value Estimation
      $805,000
      23,478 SF

      6006 Cedar Ave

      OFFICE BUILDING • 23,478 SF
      6006 Cedar Ave, Lubbock, TX 79403-6800
      View Details
    • Value Estimation by Request
      1,800 SF

      4002 Guava Ave

      OFFICE BUILDING • 1,800 SF
      4002 Guava Ave, Lubbock, TX 79403-7333
      View Details

    Similar Nearby for Sale

    • $195,000
      25,886 SF

      Unique Commercial Property in Lubbock

      Versatile commercial property with multiple wings and flexible spaces.
      1601 Vanda Ave, Lubbock, TX 79403
      View Details
    • Contact for pricing
      36,655 SF

      Distribution Warehouse with Office Space

      Distribution warehouse featuring office area, dock, and fenced lot.
      1331 East 19Th St, Lubbock, TX 79403
      View Details
    • $549,000
      4,400 SF

      Office with Warehouse and Yard

      Office, warehouse, and stack yard with secured gated access.
      201 Loop 289 NE, Lubbock, TX 79403
      View Details
    • $1,200,000
      12,250 SF

      Lubbock Commercial Property on Highway

      High-visibility commercial property on E Highway 62-82 in Lubbock.
      5802 Hwy E, Lubbock, TX 79403
      View Details
    • Contact for pricing
      36,655 SF

      Distribution Warehouse with Office Space

      Warehouse with office, dock, grade doors, and parking.
      1331 E 19Th St, Lubbock, TX 79403
      View Details
    • Contact for pricing
      6,864 SF

      Mixed-Use Building with Rental Income

      Three units plus rental fun-house with easy access.
      407 M.l. King Jr. Blvd, Lubbock, TX 79403
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Parkway Drive Retail or Medical

      Retail or medical suite available in high-visibility Lubbock center.
      1824 Parkway Dr, Lubbock, TX 79403
      View Details
    • Contact for pricing
      4,750 SF

      Warehouse with Office and Apartment

      Lease opportunity: warehouse, office, apartment near Laprino Cheese Factory.
      6510 E County Road 6700, Lubbock, TX 79403
      View Details
    • $23 SF/Yr
      2,022 SF

      Historic Pioneer Hotel Office Suite

      Remodeled office suite in downtown Lubbock's Historic Pioneer Hotel.
      1204 Broadway, Lubbock, TX 79403
      View Details
    • Contact for pricing

      Parkway Drive Commercial Space Available

      Commercial space for rent with high visibility and strong tenants.
      1824 Parkway Dr, Lubbock, TX 79403
      View Details
    • $20 SF/Yr
      1,387 SF

      Renovated Office Space with Atrium

      Two-level office suite with atrium, under renovation, available for rent.
      3223 Loop 289 S, Lubbock, TX 79403
      View Details
    • Contact for pricing

      Warehouse Space in Lubbock Business Park

      Class A industrial facility with customizable warehouse space for lease.
      501 E Hunter St, Lubbock, TX 79403
      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.
    120 Insurance St
    Lubbock, TX 79403-6600
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!