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

    302 1st St Idalou, TX 79329

    • Commercial real estate
    • 8,125 SF
    • 1.00 lot acres
    OFF-MARKET
    Value Estimations
    $1,700,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-2397701
    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

    • Commercial real estate

    Property Details for 302 1st St

    Year built
    2004
    Lot size
    1.00 lot acres
    Property size
    8,125 SF
    Zone code
    32
    Property type
    Commercial real estate
    APN
    R43186
    APU
    R43186

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,780,000
      6.5%
      $1,645,000
      7%
      $1,530,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,758,000
      Market price range: $448k - $2.05M

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

    Location Insight

    • Map
    • Local Demand
    City
    Idalou
    County
    Lubbock
    State
    Texas
    Longitude
    -101.684
    Latitude
    33.6671
    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
    $10,936
    $26,136
    $497,645
    $523,781
    -
    $26,136
    $497,645
    $523,781

    Comparable in this City

    • Value Estimation by Request

      208 1st St

      COMMERCIAL (GENERAL)
      208 1st St, Idalou, TX 79329
      View Details
    • Value Estimation by Request
      1,152 SF

      109 Chestnut St

      COMMERCIAL (GENERAL) • 1,152 SF
      109 Chestnut St, Idalou, TX 79329-4015
      View Details
    • Value Estimation by Request
      2,400 SF

      806 Frontage Rd

      COMMERCIAL (GENERAL) • 2,400 SF
      806 Frontage Rd, Idalou, TX 79329-9100
      View Details
    • Value Estimation by Request
      480 SF

      206 Main St

      COMMERCIAL (GENERAL) • 480 SF
      206 Main St, Idalou, TX 79329
      View Details
    • Value Estimation by Request
      1,500 SF

      108 Main St

      COMMERCIAL (GENERAL) • 1,500 SF
      108 Main St, Idalou, TX 79329-9112
      View Details
    • Value Estimation by Request
      784 SF

      104 Walnut St

      COMMERCIAL (GENERAL) • 784 SF
      104 Walnut St, Idalou, TX 79329-4002
      View Details

    Similar Nearby for Sale

    • $3,462,000
      577.00 Acres

      577 Acre Farm in Idalou, TX

      Prime location for farming or future development near Lubbock.
      County Road 5700, Idalou, TX 79329
      View Details
    • $95,000
      0.33 Acres

      Residential Land in Brana Estates

      Residential land for sale in Idalou's new Brana Estates.
      9 Pl, Idalou, TX 79329
      View Details
    • $375,000
      11,070 SF

      Idalou Industrial Property: 11,070 SF

      Spacious Idalou industrial building, ample expansion potential.
      103 1St St, Idalou, TX 79329
      View Details
    • $90,000
      Pending

      Idalou, TX Land For Sale

      10 acres of land in Idalou School District.
      11204 E Us Hwy, Idalou, TX 79329
      View Details
    • $105,115
      10.01 Acres

      Land Near Idalou, Texas

      10+ acre lots for building a dream home near Idalou.
      County Road 5500, Idalou, TX 79329
      View Details
    • $375,000
      11,070 SF

      Idalou Industrial Property For Sale

      Industrial property in Idalou, Texas, featuring a stack yard.
      103 E 1St St, Idalou, TX 79329
      View Details

    Similar Nearby for Lease

    • $3,000 /Mo
      11,070 SF

      Idalou, TX Industrial Space

      Industrial space available for lease in Idalou, Texas.
      103 E 1St St, Idalou, TX 79329
      View Details
    • $18 SF/Yr
      1,447 SF

      Retail Property in Idalou, Texas

      New retail space with drive-thru potential in Idalou, Texas.
      110 E 1St St, Idalou, TX 79329
      View Details
    • $18 SF/Yr

      New Build Restaurant Space

      New restaurant space in Idalou with drive-thru potential.
      110 E 1St St, Idalou, TX 79329
      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.
    302 1st St
    Idalou, TX 79329
    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.