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Property profile & analytics
OFF-MARKET
Turn key restaurants
2506 3rd St, Lubbock, TX 79415
Entity Owned
21-yr Hold
~
Est. High Equity
Property ID
US82-2318952
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
2006
Total area
2,132 SF
Lot
0.47 ac (20,299 SF)
Zoning code
38
APN
R112377
UPID
US82-2318952
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
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Lewis Jessie Group INC · 21 yrs held
Lewis Jessie Group INC
since 2005
5 recorded transactions
Zoning & alternative use
38 · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$9,656
Tax year 2023
Assessed value
$619,008
Assessed 2024
Previous assessed
$519,454
+19.2% YoY
Effective rate
1.56%
On assessed value
Assessed land
$81,168
Assessed improvement
$537,840
Land market value
$81,168
Improvement market value
$537,840
Total market value
$619,008
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
2006
Heating
NONE
Total area
2,132 SF
Lot
0.47 ac (20,299 SF)
Zoning code
38
APN
R112377
UPID
US82-2318952
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.
Building & site characteristics
From public records
Year built
2006
Heating
NONE
Lot
0.47 ac
Current owner
From public records · entity-resolved
Lewis Jessie Group INC
Entity
Mailing address
PO BOX 222, ANTON, TX 79313-0222
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 3, 2017
—
Jessie Lewis Group INC
—
Deed
related
$294,497 · Plainscapital Bk
Jun 10, 2005
—
Lewis Jessie Group INC
Stern,thomas L
Warranty Deed
related
—
—
—
Jessie Lewis Group INC
—
Deed Of Trust
related
$336,000 · Caprock Business Fin Corp
—
—
Jessie Lewis Group INC
—
Deed Of Trust
related
$464,000 · Plains Capital Bank
—
—
Jessie Lewis Group INC
—
Loan Modification
related
$294,497 · Plainscapital 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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