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Property profile & analytics
OFF-MARKET
Estimated value
$745,000
Strip malls
1826 Pkwy Dr, Lubbock, TX 79403-4406
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US82-4730488
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2009
Total area
19,416 SF
Lot
3.81 ac (165,815 SF)
APN
R316848
UPID
US82-4730488
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
Current use
Occupant on record · Public records
-
CHCL Community Dental Clinic Dental Office
-
Cricket Wireless Authorized Retailer Mobile Phone Store Electronics & Wireless Store
-
Twice the Ice Big Box & Wholesale Store Distribution Center
-
U.S. Renal Care Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$540k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$947k
Blend (final)
Blend
$745k
Owner & transaction history
Parkway Place Lubbock LLC · 7 yrs held
Parkway Place Lubbock LLC
since 2019
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.2M
+58.8%
Warehouse, storage
$1.1M
+38.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Lubbock submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lubbock submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$540,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$780,000
Current use
RETAIL STORES
$1,235,000
Change: +59% · Conversion: Easy
WAREHOUSE, STORAGE
$1,080,000
Change: +39% · Conversion: Difficult
Blend value · Realmo final
$745k
Range $671k – $820k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$38 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$30,455
Tax year 2023
Assessed value
$1,638,417
Assessed 2024
Previous assessed
$1,638,417
+0.0% YoY
Effective rate
1.86%
On assessed value
Assessed land
$24,872
Assessed improvement
$1,613,545
Land market value
$24,872
Improvement market value
$1,613,545
Total market value
$1,638,417
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2009
Heating
NONE
Total area
19,416 SF
Lot
3.81 ac (165,815 SF)
APN
R316848
UPID
US82-4730488
Jurisdiction
LUBBOCK
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$780,000
RETAIL STORES
Est. value
$1.2M
WAREHOUSE, STORAGE
Est. value
$1.1M
NEIGHBORHOOD: SHOPPING CENTER Current
RETAIL STORES
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2009
Heating
NONE
Lot
3.81 ac
Current owner
From public records · entity-resolved
Parkway Place Lubbock LLC
Entity
Mailing address
PO BOX 3893, LUBBOCK, TX 79452-3893
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 5, 2019
—
Parkway Place Lubbock LLC
—
Deed
related
$125,000 · City Bk
May 17, 2017
—
Parkway Place Lubbock LLC
—
Deed
related
$192,385 · City Bk
—
—
Parkway Place Lubbock LLC
—
Deed Of Trust
related
$125,000 · City Bk
—
—
Parkway Place Lubbock LLC
—
Loan Modification
related
$192,385 · City Bk
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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