1516 53Rd St Lubbock, TX 79412
This exceptional 45,789-square-foot building, originally a warehouse, underwent a complete transformation in 2008 into a fully functional educational facility. The conversion included the addition of a gymnasium, a spacious lunchroom, an elevator, and numerous oversized classrooms and restrooms. Significant land acquisitions expanded the property to include a gardening and greenhouse area to the northwest, and a playground and sports court to the northeast. The original dock high doors remain, repurposed as a covered outdoor learning space with tables. The entire main building is securely fenced with gated access for parking and drop-off, creating a safe and contained campus. Priced at $1,500,000 ($32.76 per square foot), this two-story building presents a unique opportunity. Its adaptable design makes it ideal for continued use as a school or church, or offers potential for creative repurposing into multi-family housing or a residential facility for mental health, foster care, or substance abuse treatment. Located at 1516 53rd St, Lubbock, TX 79412.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
38 · Lubbock, TXLubbock. Always verify with local authorities before improvements.
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.