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    Property profile & analytics

    1962 Buddy Holly Ave Lubbock, TX 79404

    • Retail space
    • 3,040 SF
    • 0.12 lot acres
    For Sale
    View listing
    $125,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-2108098
    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

    • Retail space

    Property Details for 1962 Buddy Holly Ave

    Year built
    1953
    Lot size
    0.12 lot acres
    Property size
    3,040 SF
    Zone code
    38
    Property type
    Retail space
    APN
    R133930
    APU
    R133930

    Description

    This 3,040-square-foot vacant commercial building, located at 1962 Buddy Holly Avenue in Lubbock, Texas, presents a unique investment opportunity. Priced at $150,000 ($49.34/sq ft), this Class C property offers flexible use potential for various commercial ventures. Situated on Buddy Holly Avenue, it benefits from high visibility and convenient access to significant traffic. The building's shell condition allows for complete customization to suit diverse business needs, from retail and office spaces to storage solutions. Its generous size provides ample room for creative layout and adaptability. The property is ready for immediate occupancy, providing a blank canvas for entrepreneurs and businesses seeking a well-located, adaptable space in a high-traffic area of Lubbock, Texas, within Lubbock County, zip code 79404. This versatile building is ideal for those looking to establish a new venture or expand existing operations. The property is categorized as industrial, mixed-use, and retail, and is classified as a flex/warehouse space. This is a prime opportunity to create a space perfectly tailored to your business vision.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $285,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $490,000
      6.5%
      $450,000
      7%
      $420,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $368,000
      Market price range: $81.7k - $427k

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

    Location Insight

    • Map
    • Local Demand
    City
    Lubbock
    County
    Lubbock
    State
    Texas
    Longitude
    -101.845
    Latitude
    33.5756
    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
    $2,471
    $6,629
    $134,364
    $140,993
    -
    $6,629
    $134,364
    $140,993

    Comparable in this City

    • Value Estimation
      $285,000
      1,760 SF

      511 82nd St

      RETAIL STORES (PERSONAL SERVICES) • 1,760 SF
      511 82nd St, Lubbock, TX 79404-6337
      View Details
    • Value Estimation
      $290,000
      1,891 SF

      501 82nd St

      RETAIL STORES (PERSONAL SERVICES) • 1,891 SF
      501 82nd St, Lubbock, TX 79404-6337
      View Details
    • Value Estimation
      $290,000
      1,395 SF

      513 82nd St

      RETAIL STORES (PERSONAL SERVICES) • 1,395 SF
      513 82nd St, Lubbock, TX 79404-6337
      View Details
    • Value Estimation
      $305,000
      6,000 SF

      4824 Hwy 84

      RETAIL STORES (PERSONAL SERVICES) • 6,000 SF
      4824 Hwy 84, Lubbock, TX 79404
      View Details
    • Value Estimation
      $400,000
      14,760 SF

      3001 Interstate 27

      RETAIL STORES (PERSONAL SERVICES) • 14,760 SF
      3001 Interstate 27, Lubbock, TX 79404-2137
      View Details
    • Value Estimation
      $280,000
      2,000 SF

      305 County Rd 7300

      RETAIL STORES (PERSONAL SERVICES) • 2,000 SF
      305 County Rd 7300, Lubbock, TX 79404-8046
      View Details

    Similar Nearby for Sale

    • $275,000
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      Two Commercial Buildings Near I-27

      Two buildings totaling 4,754 SF, excellent visibility, highway access.
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      Warehouse/Former Body Shop For Sale

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    • $350,000

      Lubbock Nightclub Opportunity

      Nightclub for sale in Lubbock, Texas, spanning 9,170 SF.
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      View Details
    • $450,000
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      Lubbock Industrial Warehouse Facility

      Versatile industrial warehouse in a highly visible Lubbock location.
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    • $225,000
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      Prime Lubbock Industrial Property

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      Lubbock RV Park Investment Opportunity

      Profitable RV Park with Expansion Potential
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      View Details

    Similar Nearby for Lease

    • $2,500 /Mo
      2,060 SF

      Retail Space on 50th Street

      Retail property suitable for restaurant or other business.
      811 50Th St, Lubbock, TX 79404
      View Details
    • $1,750 /Mo
      3,600 SF

      Retail Space on 34th Street

      Retail space with high visibility and ample storage.
      1400 34Th St, Lubbock, TX 79404
      View Details
    • $12 SF/Yr
      4,734 SF

      I-27 Frontage Road Office Space

      4,734 SF Office Building, Lubbock, TX
      3620 I-27 Frontage Rd, Lubbock, TX 79404
      View Details
    • $3 SF/Yr
      3,800 SF

      Lubbock Industrial Park Warehouse Space

      Affordable industrial spaces near Downtown Lubbock with flexible layouts.
      2002-2520 Avenue A, Lubbock, TX 79404
      View Details
    • $575,000
      13,370 SF

      Renovated Office Space in Lubbock

      Modern 800 SF office space with recent renovations.
      604 30Th St, Lubbock, TX 79404
      View Details
    • $4,250 /Mo
      8,500 SF

      Lubbock Warehouse with Dock Door

      8,500 SF warehouse featuring dock and grade-level doors.
      7010 Cedar Ave, Lubbock, TX 79404
      View Details
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    Lubbock, TX 79404
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    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
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