Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1611 University Ave Lubbock, TX 79401-4417

    • Retail space
    • 2,139 SF
    • 0.15 lot acres
    OFF-MARKET
    Value Estimations
    $275,000
    Show details
    Cap Rate Potential
    7.2%
    Retail space
    Location Intelligence
    Property ID
    US82-3961923
    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.

    Current Use by Public Records

    • California T's Custom Screen Printing & Embroidery / Screen Printer / T-Shirt Company
    • Solitaire Homes of Lubbock / Mobile Home Dealer

    Property Details for 1611 University Ave

    Year built
    1967
    Lot size
    0.15 lot acres
    Property size
    2,139 SF
    Zone code
    38
    Property type
    Retail space
    APN
    R140460
    APU
    R140460

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $285,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $345,000
      6.5%
      $320,000
      7%
      $295,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $212,000
      Market price range: $84.6k - $212k

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $190,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Lubbock
    County
    Lubbock
    State
    Texas
    Longitude
    -101.87
    Latitude
    33.5796
    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
    $3,414
    $52,000
    $131,671
    $183,671
    -
    $52,000
    $131,671
    $183,671

    Comparable in this City

    • Value Estimation
      $290,000
      504 SF

      302 19th St

      RETAIL STORES (PERSONAL SERVICES) • 504 SF
      302 19th St, Lubbock, TX 79401-5327
      View Details
    • Value Estimation
      $265,000
      4,000 SF

      1621 19th St

      RETAIL STORES (PERSONAL SERVICES) • 4,000 SF
      1621 19th St, Lubbock, TX 79401-4831
      View Details
    • Value Estimation
      $445,000
      19,790 SF

      1415 19th St

      RETAIL STORES (PERSONAL SERVICES) • 19,790 SF
      1415 19th St, Lubbock, TX 79401-4938
      View Details
    • Value Estimation
      $295,000
      7,500 SF

      2309 19th St

      RETAIL STORES (PERSONAL SERVICES) • 7,500 SF
      2309 19th St, Lubbock, TX 79401-4411
      View Details
    • Value Estimation
      $315,000
      8,082 SF

      321 19th St

      RETAIL STORES (PERSONAL SERVICES) • 8,082 SF
      321 19th St, Lubbock, TX 79401-5326
      View Details
    • Value Estimation
      $365,000
      2,875 SF

      1106 Main St

      RETAIL STORES (PERSONAL SERVICES) • 2,875 SF
      1106 Main St, Lubbock, TX 79401-3316
      View Details

    Similar Nearby for Sale

    • $890,000
      5,702 SF

      Downtown Lubbock Commercial Property

      Character-rich commercial property with live/work potential in Downtown Lubbock.
      1110 Main St, Lubbock, TX 79401
      View Details
    • $2,400,000
      9,984 SF

      Retail Building in High-Traffic Area

      9,984 SF retail building on 0.92-acre lot for sale.
      1102 Avenue Q, Lubbock, TX 79401
      View Details
    • Contact for pricing
      1,700 SF

      Retail Space Near Texas Tech

      Single-tenant retail space near Texas Tech University entrance.
      2402 Broadway St, Lubbock, TX 79401
      View Details
    • $2,500,000
      77,350 SF

      Historic Hemphill-Wells Building For Sale

      Unique office/retail space in revitalizing downtown Lubbock.
      1212-1212 Avenue J, Lubbock, TX 79401
      View Details
    • Contact for pricing
      2,500 SF

      Retail Space Near Texas Tech

      Recently renovated retail space with high visibility near Texas Tech.
      1113 University Ave, Lubbock, TX 79401
      View Details
    • $850,000
      31,334 SF

      Downtown Lubbock Storefront

      Iconic 5-story retail building, prime location.
      1102 Broadway St, Lubbock, TX 79401
      View Details

    Similar Nearby for Lease

    • $3,521 /Mo
      3,250 SF

      Downtown Retail Space for Lease

      Charming retail space in historic downtown Lubbock with high visibility.
      1702 Buddy Holly Ave, Lubbock, TX 79401
      View Details
    • $2,150 /Mo
      2,720 SF

      Downtown Lubbock Open Concept Space

      2,720 SF flexible space in the heart of downtown.
      1416 Texas Ave, Lubbock, TX 79401
      View Details
    • $5 SF/Yr
      9,375 SF

      Downtown Lubbock Retail/Warehouse Space

      Versatile space near Depot District, ideal for retail or warehouse.
      1609 Crickets Ave, Lubbock, TX 79401
      View Details
    • Contact for pricing
      4,160 SF

      Lubbock Retail Center Space Available

      Retail space available in Lubbock Tech Shopping Center.
      1803 7Th St, Lubbock, TX 79401
      View Details
    • $900 /Mo
      2,592 SF

      Former Office/Daycare Facility For Lease

      Former office/daycare facility with fenced play area available for lease.
      1626 17Th St, Lubbock, TX 79401
      View Details
    • $1,600 /Mo
      2,941 SF

      Downtown Lubbock Shell Space Available

      Shell space in Downtown Lubbock, ready for improvements to fit needs.
      1412 Texas Ave, Lubbock, TX 79401
      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.
    1611 University Ave
    Lubbock, TX 79401-4417
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.