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Property profile & analytics
OFF-MARKET
Estimated value
$3,165,000
Grocery and convenience stores
2630 Pkwy Dr Lubbock, TX 79403-4100
Entity Owned
11-yr Hold
Absentee Owner
Free & Clear
Property ID
US82-3869603
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1996
Total area
38,654 SF
Lot
4.26 ac (185,483 SF)
Zoning code
38
APN
R137622
UPID
US82-3869603
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
-
Lubbock National Bank Bank Loan Service
-
Redbox Cinema (Bike/Boat/Book/etc) Store
-
United Supermarkets Grocery & Convenience Store Food Market
-
United Supermarkets Pharmacy Pharmacy
-
Wells Fargo ATM Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.96M
Blend (final)
Blend
$3.17M
Owner & transaction history
Spirit Master Funding Vi LLC · 11 yrs held
Spirit Master Funding Vi LLC
since 2015
4 recorded transactions
Zoning & alternative use
38 · Lubbock, TX
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$4.7M
+89.7%
Restaurant
$4.2M
+69.0%
Auto repair, garage
$3.4M
+38.3%
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
RETAIL STORES
$2,460,000
Current use
COMMERCIAL (GENERAL)
$4,665,000
Change: +90% · Conversion: Easy
RESTAURANT
$4,155,000
Change: +69% · Conversion: Easy
AUTO REPAIR, GARAGE
$3,400,000
Change: +38% · Conversion: Difficult
OFFICE BUILDING
$2,540,000
Change: +3% · Conversion: Easy
WAREHOUSE, STORAGE
$2,150,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$3.17M
Range $2.85M – $3.48M · ±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
$82 / 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
$60,412
Tax year 2023
Assessed value
$3,250,000
Assessed 2024
Previous assessed
$3,250,000
+0.0% YoY
Effective rate
1.86%
On assessed value
Assessed land
$46,371
Assessed improvement
$3,203,629
Land market value
$46,371
Improvement market value
$3,203,629
Total market value
$3,250,000
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1996
Heating
NONE
Total area
38,654 SF
Lot
4.26 ac (185,483 SF)
Zoning code
38
APN
R137622
UPID
US82-3869603
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
RETAIL STORES Current
Est. value
$2.5M
COMMERCIAL (GENERAL)
Est. value
$4.7M
RESTAURANT
Est. value
$4.2M
AUTO REPAIR, GARAGE
Est. value
$3.4M
OFFICE BUILDING
Est. value
$2.5M
WAREHOUSE, STORAGE
Est. value
$2.2M
RETAIL STORES Current
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
1996
Heating
NONE
Lot
4.26 ac
Current owner
From public records · entity-resolved
Spirit Master Funding Vi LLC
Entity
Free & Clear · 11 yrs held
Mailing address
255 WASHINGTON ST, NEWTON, MA 02458-1637
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2015
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
Jan 26, 2015
—
Spirit Master Funding Vi LLC
Spirit Spe Us Lubbock LP
Quit Claim Deed
related
—
May 31, 2005
—
Spirit Spe Us Lubbock LP
Bli United Lubbock Ltd
Warranty Deed
related
—
Dec 1, 2004
—
Owner Name Unavailable
Bli United No 2 Ltd
Warranty Deed
related
—
—
—
Spirit Spe Us Lubbock LP
—
Deed Of Trust
related
$2,912,000 · Citigroup Commerc'l 2005-c3(ce
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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