Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2902 Frankford Ave Lubbock, TX 79416-9612

    • Warehouses
    • 1,965 SF
    • 6.00 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-4038686
    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

    • Fuzz Busters Pet Grooming / Pet Store

    Property Details for 2902 Frankford Ave

    Year built
    2000
    Lot size
    6.00 lot acres
    Property size
    1,965 SF
    Zone code
    37
    Property type
    Warehouses
    APN
    R77544
    APU
    R77544

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Lubbock
    County
    Lubbock
    State
    Texas
    Longitude
    -101.938
    Latitude
    33.6274
    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
    $3,267
    $65,340
    $126,552
    $191,892
    -
    $65,340
    $126,552
    $191,892

    Comparable in this City

    • Value Estimation by Request
      5,700 SF

      5830 County Rd 6255

      WAREHOUSE, STORAGE • 5,700 SF
      5830 County Rd 6255, Lubbock, TX 79416-9632
      View Details
    • Value Estimation by Request
      6,600 SF

      Nn Fm 179

      WAREHOUSE, STORAGE • 6,600 SF
      Nn Fm 179, Lubbock, TX 79416
      View Details
    • Value Estimation by Request
      3,350 SF

      4537 Hwy 84

      WAREHOUSE, STORAGE • 3,350 SF
      4537 Hwy 84, Lubbock, TX 79416-9609
      View Details
    • Value Estimation by Request
      7,500 SF

      4403 Hwy 84

      WAREHOUSE, STORAGE • 7,500 SF
      4403 Hwy 84, Lubbock, TX 79416-9669
      View Details
    • Value Estimation
      $630,000
      28,226 SF

      2213 Quaker Ave

      MINI-WAREHOUSE, STORAGE • 28,226 SF
      2213 Quaker Ave, Lubbock, TX 79416-2203
      View Details
    • Value Estimation by Request
      14,409 SF

      4401 Fm 2528

      WAREHOUSE, STORAGE • 14,409 SF
      4401 Fm 2528, Lubbock, TX 79416-2455
      View Details

    Similar Nearby for Sale

    • $999,999
      19,300 SF

      Three Warehouse Buildings on 10-Acres

      Three warehouses totaling 19,300 sqft on over 10 acres.
      2769 N Frankford Ave, Lubbock, TX 79416
      View Details
    • $550,000
      11,400 SF

      Versatile Lubbock Property with Warehouse

      4.625-acre property with office, warehouse, and ag barn.
      510 Valencia Ave, Lubbock, TX 79416
      View Details
    • $550,000
      4,800 SF

      Lubbock Shop on Acreage

      4800 SF shop on 8.89 acres in Lubbock.
      2806 N C R 1640, Lubbock, TX 79416
      View Details
    • $1,842,540
      17,548 SF

      Prime Lubbock Industrial Property

      17,548 SF Flex Space - $105/SF
      0 County Road 1350, Lubbock, TX 79416
      View Details
    • Contact for pricing
      3,700 SF

      Versatile Property with Warehouse Space

      Spacious property with warehouse, flexible usage, near Reese Center.
      910 N County Road 1300, Lubbock, TX 79416
      View Details
    • $350,000
      8,450 SF

      Versatile Buildings on Large Lot

      Four buildings on 1.48 acres near Clovis Road.
      2309 N Frankford Ave, Lubbock, TX 79416
      View Details

    Similar Nearby for Lease

    • $6,500 /Mo
      7,232 SF

      Class A Warehouse with Offices

      Warehouse with offices, reception, conference room, and secured stack yard.
      6621 Xenia Ave, Lubbock, TX 79416
      View Details
    • $4,000 /Mo
      3,600 SF

      Office/Warehouse on Acre Lot

      Office and warehouse space for lease on approximately one acre.
      5914 County Road 6300, Lubbock, TX 79416
      View Details
    • $4,500 /Mo
      11,400 SF

      Lubbock Commercial Property with Warehouse

      4.625-acre property featuring renovated office, warehouse, and ag barn.
      510 Valencia Ave, Lubbock, TX 79416
      View Details
    • $10 SF/Yr
      19,553 SF

      Prime Lubbock Medical Office Space

      19,000 SF Single-Tenant Medical Office
      5402 4Th St, Lubbock, TX 79416
      View Details
    • $1,334,370
      2,397 SF

      New Garden Office For Lease

      Brand-new 2,397 sqft garden office space available for lease.
      1418-1424 N Slide Rd, Lubbock, TX 79416
      View Details
    • $949,905
      3,333 SF

      Garden Office on 4th Street

      Single-tenant office space in a high-traffic Lubbock corridor.
      6024 4Th St, Lubbock, TX 79416
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2902 Frankford Ave
    Lubbock, TX 79416-9612
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.