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Property profile & analytics
FOR SALE
Office buildings

1516 53Rd St Lubbock, TX 79412

13,789 SF 1.86 ac lot Built 1971
Entity Owned 17-yr Hold Free & Clear
Property ID
US83-2830764
Property summary
AI-generated overview

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.

Property profile
Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1971
Total area 13,789 SF
Lot 1.86 ac (81,191 SF)
Zoning code 38
APN R32657
UPID US83-2830764
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
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.32M
Blend (final) Blend
$1.55M
Owner & transaction history
Cosmos Foundation INC · 17 yrs held
Cosmos Foundation INC
since 2008
2 recorded transactions
2008
Price N/A
1969
Price N/A
Zoning & alternative use
38 · Lubbock, TX
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant $1.5M +50.0%
Commercial (general) $1.4M +39.9%
Auto repair, garage $1.2M +22.8%
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More about this property
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