Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1617 University Ave Lubbock, TX 79401-4417

    • Turn key restaurants
    • 6,000 SF
    • 0.15 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-4455029
    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

    • Clouds Hookah Sports Grill / Bar & Pub / (Bike/Boat/Book/etc) Store
    • Skooners Grill & Bar / Bar & Pub / Restaurant

    Property Details for 1617 University Ave

    Year built
    1942
    Lot size
    0.15 lot acres
    Property size
    6,000 SF
    Zone code
    38
    Property type
    Turn key restaurants
    APN
    R69229
    APU
    R69229

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Lubbock
    County
    Lubbock
    State
    Texas
    Longitude
    -101.87
    Latitude
    33.5792
    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
    $6,647
    $52,000
    $349,575
    $401,575
    -
    $52,000
    $349,575
    $401,575

    Comparable in this City

    • Value Estimation
      $680,000
      9,450 SF

      408 Ave Q Q

      RESTAURANT • 9,450 SF
      408 Ave Q Q, Lubbock, TX 79401-2610
      View Details
    • Value Estimation by Request
      684 SF

      2330 19th St

      RESTAURANT • 684 SF
      2330 19th St, Lubbock, TX 79401-4412
      View Details
    • Value Estimation by Request
      2,424 SF

      2411 Glenna Goodacre Blvd

      RESTAURANT • 2,424 SF
      2411 Glenna Goodacre Blvd, Lubbock, TX 79401-2236
      View Details
    • Value Estimation by Request
      3,027 SF

      2227 19th St

      RESTAURANT • 3,027 SF
      2227 19th St, Lubbock, TX 79401
      View Details
    • Value Estimation by Request
      2,600 SF

      1925 19th St

      RESTAURANT • 2,600 SF
      1925 19th St, Lubbock, TX 79401-4603
      View Details
    • Value Estimation by Request
      2,820 SF

      1305 University Ave

      RESTAURANT • 2,820 SF
      1305 University Ave, Lubbock, TX 79401-3609
      View Details

    Similar Nearby for Sale

    • $475,000
      19,072 SF

      Lubbock Landmark Properties For Sale

      Two historic properties in Lubbock's Downtown Arts District.
      407 Avenue J, Lubbock, TX 79401
      View Details
    • $475,000
      19,072 SF

      Unique Downtown Lubbock Commercial Space

      Unique commercial space in Lubbock's Downtown Art District.
      407-411 Avenue J, Lubbock, TX 79401
      View Details
    • Contact for pricing
      13,000 SF

      Lubbock Depot District Entertainment Hub

      Vibrant nightlife and entertainment destination in Lubbock's Depot District.
      1719 Buddy Holly Ave, Lubbock, TX 79401
      View Details
    • $2,995,000
      2,229 SF

      Lubbock NNN Investment Opportunity

      NNN property leased to Whataburger near Texas Tech University.
      1702 19Th St, Lubbock, TX 79401
      View Details
    • $750,000
      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
    • $485,000
      1,248 SF

      Lubbock Commercial Property For Sale

      Commercial property near downtown and Texas Tech, great for businesses.
      1501 19Th St, Lubbock, TX 79401
      View Details

    Similar Nearby for Lease

    • $120,000
      20,000 SF

      Spacious Commercial Suite in Lubbock

      20,000 SF commercial suite suitable for various business uses.
      224 Buddy Holly Ave, Lubbock, TX 79401
      View Details
    • Contact for pricing

      Depot District Corner Restaurant Space

      Highly visible corner space in the Depot Entertainment District.
      1701 Texas Ave, Lubbock, TX 79401
      View Details
    • $15 SF/Yr

      Retail or Flex Space Near TTU

      3,565 SF retail/flex space near Texas Tech University.
      2420 14Th St, 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
    • Contact for pricing

      Retail Spaces Available For Lease

      Retail property with two spaces for lease and parking.
      1619 University 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.
    1617 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.
    Sign Up Successful!
    You now have access to more from Realmo!