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Property profile & analytics
OFF-MARKET
Estimated value
$2,650,000
Warehouses
2323 Ave K K Lubbock, TX 79411-2334
Entity Owned
14-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US82-3959287
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1970
Total area
30,500 SF
Lot
2.01 ac (87,376 SF)
Zoning code
38
APN
R51566
UPID
US82-3959287
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.47M
Blend (final)
Blend
$2.65M
Owner & transaction history
Big Dawg Reeks LLC · 14 yrs held
Big Dawg Reeks LLC
since 2012
3 recorded transactions
Zoning & alternative use
38 · Lubbock, TX
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$4.0M
+82.4%
Office building
$3.4M
+56.3%
Restaurant
$3.3M
+49.8%
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
$2,190,000
Current use
COMMERCIAL (GENERAL)
$3,995,000
Change: +82% · Conversion: Difficult
OFFICE BUILDING
$3,425,000
Change: +56% · Conversion: Difficult
RESTAURANT
$3,280,000
Change: +50% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$3,235,000
Change: +48% · Conversion: Moderate
AUTO REPAIR, GARAGE
$2,685,000
Change: +23% · Conversion: Easy
RETAIL STORES
$1,865,000
Change: -15% · Conversion: Moderate
Blend value · Realmo final
$2.65M
Range $2.39M – $2.92M · ±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
$87 / 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
$6,506
Tax year 2023
Assessed value
$604,180
Assessed 2024
Previous assessed
$604,180
+0.0% YoY
Effective rate
1.08%
On assessed value
Assessed land
$87,376
Assessed improvement
$516,804
Land market value
$87,376
Improvement market value
$516,804
Total market value
$604,180
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
1970
Heating
NONE
Total area
30,500 SF
Lot
2.01 ac (87,376 SF)
Zoning code
38
APN
R51566
UPID
US82-3959287
Jurisdiction
LUBBOCK
Zoning & alternative use
38 · Lubbock, TX
Zoning 38 · permitted uses
38 · 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
$2.2M
COMMERCIAL (GENERAL)
Est. value
$4.0M
OFFICE BUILDING
Est. value
$3.4M
RESTAURANT
Est. value
$3.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.2M
AUTO REPAIR, GARAGE
Est. value
$2.7M
RETAIL STORES
Est. value
$1.9M
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
RETAIL STORES
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
1970
Heating
NONE
Lot
2.01 ac
Current owner
From public records · entity-resolved
Big Dawg Reeks LLC
Entity
Mailing address
2425 TEXAS AVE, LUBBOCK, TX 79411-2324
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2012
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
Aug 18, 2017
—
Big Dawg Reeks LLC
—
Deed
related
$165,000 · Commercial St Bk
Mar 5, 2012
—
Big Dawg Reeks LLC
Penney H J & B H Trust
Grant Deed
$250,000 · Commercial State Bank
—
—
Big Dawg Reeks LLC
—
Loan Modification
related
$165,000 · Commercial St 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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