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Property profile & analytics
OFF-MARKET
Estimated value
$1,775,000
Warehouses
2102 109th St Lubbock, TX 79423-7217
Entity Owned
16-yr Hold
~
Est. High Equity
Property ID
US82-5188257
Property summary
AI-generated overview
This single-story, Class B industrial warehouse in Lubbock County, Texas offers a variety of lease options. Built in 1998, the 22,250-square-foot building features ten individual suites, with sizes ranging from a minimum of 1,250 square feet to a maximum contiguous space of 2,700 square feet. The property is ideal for light business or storage needs, with several unit configurations available. Two units offer 1,205 square feet, six units provide 2,700 square feet, and two more offer 2,025 square feet each. All units boast 14-foot ceilings and 12' x 14' overhead doors, facilitating easy loading and unloading. Durable insulated concrete floors are a standard feature throughout the building. Select units also include the added convenience of private restrooms. The property is located at 2102 109TH ST, Lubbock, TX 79423. This is a multi-tenant property, offering flexibility for businesses of various sizes. Inquire today to learn more about available spaces and lease terms.
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2009
Total area
50,700 SF
Lot
15.66 ac (681,975 SF)
Zoning code
19
APN
R87922
UPID
US82-5188257
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
-
DRB Storage Storage Facility
-
Triple G Collision Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.78M
Owner & transaction history
Drb Ventures LLC
Drb Ventures LLC
3 recorded transactions
Zoning & alternative use
19 · Lubbock, TX
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$2,455,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$2,030,000
Change: -17% · Conversion: Moderate
Blend value · Realmo final
$1.78M
Range $1.60M – $1.95M · ±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
$35 / 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
$32,481
Tax year 2023
Assessed value
$2,150,000
Assessed 2024
Previous assessed
$2,150,000
+0.0% YoY
Effective rate
1.51%
On assessed value
Assessed land
$681,975
Assessed improvement
$1,468,025
Land market value
$681,975
Improvement market value
$1,468,025
Total market value
$2,150,000
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2009
Heating
NONE
Buildings
2
Total area
50,700 SF
Lot
15.66 ac (681,975 SF)
Zoning code
19
APN
R87922
UPID
US82-5188257
Jurisdiction
LUBBOCK
Zoning & alternative use
19 · Lubbock, TX
Zoning 19 · permitted uses
19 · Lubbock, TX
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lubbock. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$2.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.0M
WAREHOUSE, STORAGE Current
NEIGHBORHOOD: SHOPPING CENTER
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
Buildings
2
Lot
15.66 ac
Current owner
From public records · entity-resolved
Drb Ventures LLC
Entity
Mailing address
2102 109TH ST, LUBBOCK, TX 79423-7217
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
—
—
Drb Ventures LLC
—
Deed Of Trust
related
$225,000 · Peoples Bank & Trust
—
—
Drb Ventures LLC
—
Deed Of Trust
related
$1,020,321 · Peoples Bank & Trust
—
—
Drb Ventures LLC
—
Deed Of Trust
related
$1,020,921 · Peoples Bank & Trust
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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